Word: nationalizes
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Dates: during 1970-1979
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...also reflected his genuine fear-and that of advisers like Energy Secretary James Schlesinger-that unless Congress acts soon to reduce U.S. dependence on imported oil, the inevitable consequences will be oil and gas shortages and a further mammoth, inflationary deficit in the U.S. balance of trade. The nation is now spending an appalling $45 billion a year to import oil, and the estimated trade deficit for this year is as high as $25 billion, compared with $5.9 billion last year...
...blast at the oilmen will help him or hurt him with two other groups: the Senate and, even more important, the public at large. Despite repeated warnings about the energy crisis, impassioned presidential statements about energy conservation being "the moral equivalent of war" and reams of statistics about the nation's gluttonous consumption of oil and gas, nothing seems to have persuaded the public that things are that bad. But casting the oil industry as the chief villain will not necessarily persuade people that the energy crisis is "real" and that they must pay higher prices in order...
...there was little doubt that energy was his deepest domestic concern. Schlesinger talked more than half a dozen times on the subject with Carter after returning from meetings in Paris with members of the International Energy Agency. One point he stressed: U.S. allies are deeply concerned about the nation's inability to cut its energy consumption. The whole subject, said Schlesinger, is Carter's "No. 1 priority." Carter readily agreed. Said he: "It's the most important domestic issue that we will face while I am in office." He thus placed energy above tax reform (which...
...automakers' 14.6% and barely better than the 9.5% earned by chemical companies. Over the past seven years, according to Data Resources Inc., a firm of economic analysts, domestic oil companies have averaged slightly less than a 9.4% return on investment, about on a par with the nation's 600 largest manufacturing firms...
...underwriting, redlining, crime-fighting, etc. Carter's "let's work with what we have" attitude, combined with his reuqirement for rebuilding the cities--that it not come at the expense of a balanced budget and strong defense--does not bode well for those issues or the future of the nation's cities in general...