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...Reconstruction Finance Corp. helped establish the synthetic rubber industry during World War II. The Administration is beginning to show some interest in such ideas, but it wants the money to come from President Carter's proposed windfall profits tax, and Congress could wind up deciding not to enact the levy at all. The truth is, when it comes to erratic policymaking, the U.S. need point the finger only at itself...
Since both the extent and the effects of industrial concentration are uncertain, most speakers favored a go-slow policy to sort out the facts before trying to enact new antitrust legislation. Said Du Pont's Shapiro: "In view of our domestic economic needs and our international competitive problems, we would do well not to go off on major, and perhaps irreversible, social experiments until there are convincing reasons...
WHAT IS MOST disappointing about Carter's recent energy proposals, however, is their short-sightedness and timidity. The public's needs require a massive reorientation of national policy. Carter needs to propose--and to put pressure on Congress to enact--laws that would shift federal spending away from superhighways into mass transit, laws that would change utility rate structures, laws that would mandate conservation and finance home insulation, solar heating and other energy alternatives. Above all, Carter needs to regain the public's respect for, and willingness to follow a President's lead; with his energy proposals, however, Carter...
...prevent handing what he sees as an unearned bonanza to the oil companies, Carter called on Congress to enact a "windfall profits tax." It would skim off about half the $13 billion or so of extra revenue that oil firms stand to get as the price of domestic crude oil, which now averages $9.45 per bbl., rises to the world level. At the moment, that figure is $14.55 for OPEC oil, but Ecuador is now charging a premium price of $20.60 per bbl., and other producers are also levying surcharges on the basic OPEC price. Under Carter's plan...
...Senate's lame measure comes before the House this week. And there it could be in trouble. A potential majority, composed of Republicans and conservative Democrats, seems determined to enact legislation that would bring the Federal Government closer to balancing its budget. Even if they fail this time, the budget balancers are certain to keep trying...