Word: conservationism
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The U.S. apparently can expect little aid. Canada, the biggest foreign supplier, has slapped a 40?-per-bbl. tax on oil exported to the U.S. as a means of keeping its fuel at home. (Taking advantage of the tight supply situation, Venezuela, the nation's second largest foreign source...
Much more belt tightening will be needed, and recognition of that fact last week forged a strange political alliance between Nixon Administration officials and Washington Senator Henry Jackson, a contender for the 1976 Democratic presidential nomination. They agreed to cooperate in pushing emergency fuel legislation through Congress. Jackson has introduced...
The end of the shooting war probably will only intensify the oil cold war. The Arabs are counting on petroleum pressure as their main political weapon in negotiations to force Israel out of territory conquered in 1967. The West will have to demonstrate considerable resolve and ingenuity in crafting oil...
If the Arab nations carry out their oil cutbacks, the U.S. could wind up 2,000,000 bbl. short of the 17 million bbl. that it consumes each day. Energy experts in government, business and academe have been pumping out suggestions to help consumers conserve fuel. For example, one immediate...
Now that the program is finally in effect, additional conservation steps will be necessary. The Administration could, for example, ask Congress to impose a 10% tax on gasoline. That might reduce demand and allow refineries to shift some production from gasoline to heating oil. If the situation becomes dire, the...