Word: oilmen
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Dates: during 1970-1979
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...trouble has been greatly aggravated by Carter's televised assault on the oilmen who oppose his energy program as profiteers out to "rob" American consumers and stage "the biggest rip-off in history" (TIME, Oct. 24). Nervous executives in many industries other than oil saw that attack as an indication that Carter may after all be an antibusiness Georgia populist rather than the fiscal conservative he has often seemed. Says Frank Borman, the former astronaut who now heads Eastern Air Lines: "He is casting suspicion on business in general, and that is unfortunate. He doesn't have...
...business disaffection with Carter did not begin with the explosion at Big Oil -and it would now persist even if the President had called the oilmen a group of public-spirited gentlemen. As Carter's energy program has been gutted in the Senate, as his much-touted tax-reform program remains unborn, as high inflation and high unemployment persist, many corporation bosses have come to see he President as someone who particularly unnerves them: an incompetent, or-at least vacillating, Chief Executive. In their view, Carter has tried to tackle too many major problems at once-energy, taxes, welfare...
Lance's exit especially troubles businessmen because they feel Carter, whatever his own sentiments, has filled the Administration's second-level posts with people who have no sympathy for them and favor more regulation. Oilmen are particularly suspicious of S. David Freeman, who helped Schlesinger draft the energy program; they regard him as a doctrinaire conservationist who does not even want to increase energy production. William P. Tavoulareas, president of Mobil Oil Corp., adds that "everybody we see in the Interior Department these days is an environmentalist...
...oilmen, insist that they need increased incentives to boost their exploration activities. The oil industry contends it already spends 30% to 35% of its after-tax profits on exploration. But because all the easy-to-reach oilfields have been discovered, the drillers must now sink deeper and more expensive wells in more inhospitable regions, like Alaska's North Slope or the U.S. outer continental shelf. Since 1973 oil companies have increased the number of wells drilled by a dramatic 63.4% in the U.S. alone, but even at that, new finds have been disappointing, and proven reserves continue to decline...
Only hours after issuing his scorching televised blast against oilmen, President Carter last week dropped in on steel executives meeting with his aides in the White House and gave them a far different message: international trade laws will be enforced. That pledge, mild as it might seem, came a few days after European and Japanese steelmakers had informally offered to restrict exports to the U.S., and it gave American steelmen some assurance that one of the nation's basic industries might get a little relief...