Word: feo
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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...
...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...
...doubt that the energy shortage is real and acute. Officials of Consolidated Edison put the New York City area on a round-the-clock 5% voltage cutback because the company had only a 9½-day stock of fuel left; that supply was dwindling steadily, and late last week FEO officials agreed to help Con Ed increase its reserves to a twelve-day supply. Airlines were also running short of fuel. Figuring that conventional sources of energy will remain scarce and costly, executives of RCA announced in Manhattan a major investment in solar energy. Next year the company will build...
President Nixon and Simon both reiterated last week that they hope that gasoline rationing can be avoided, and Simon's deputy, John Sawhill, reaffirmed that the odds for introducing it by summer are fifty-fifty. Just in case, the FEO put out details of what rationing would be like. Every driver over 18 would get an allotment of coupons every three months, probably at a local post office. Drivers in rural - '- areas would get 41-49 gal. a | month. Motorists in large cities that have relatively poor public transportation, including Miami, Pittsburgh and Washington, D.C., would receive roughly...