Word: feo
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Dates: during 1970-1979
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Some figures from the Federal Energy Office sketch the situation. In January, Energy Czar William E. Simon told the recent 13-nation Washington energy conference, world oil production ran at 46.2 million bbl. per day, or 1.6 million bbl. below September, the last month before the Arab production cutbacks. FEO figures also indicate that January oil imports to the U.S. fell 1.14 million bbl. per day below September. The obvious conclusion, though Simon himself did not draw it, is that the U.S. is suffering around three-fourths of the world petroleum shortfall. Supplies available to be imported by other...
Troubles aside, the new restrictions on gasoline are necessary. U.S. refineries have only enough crude to operate at 82% of capacity. Oil imports are dropping steadily, reports the FEO: from 5 million bbl. a day two weeks ago to 4.9 million bbl. last week. Compounding an already bad situation, most drivers still seem unwilling to form car pools or switch to alternative forms of transit. In a Gallup poll last week, 79% of those interviewed said that they used autos to go to work-exactly the same proportion...
...this puts special pressure on the FEO'S program to allocate gasoline supplies equitably throughout the nation...
That program, says FEO Deputy Administrator John Sawhill, still has "kinks...
...Federal Energy Office may increase gasoline allocations within the next month or two for areas that are particularly dry. Energy officials say that if service-station lines get too long, national gasoline rationing will finally be imposed. FEO Chief William Simon is still publicly opposed to rationing, but aides say that he is willing to accept it if the gasoline shortage gets much farther out of hand. The Administration will...