Word: oils
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Dates: during 1970-1979
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This was the post-Camp David Jimmy Carter, a President eager to assert his leadership and to lash out at critics, of whom, a coast-to-coast survey by TIME bureau chiefs showed, there were a formidable number. The subject of his opening cannonade was the oil industry's effort to get Congress to reduce the windfall profits tax, which Carter hopes to use to finance a multibillion-dollar energy program. Said Carter: "There will be a massive struggle to gut the windfall profits tax. I want to serve notice tonight that I will do everything in my power...
...thought Jimmy Carter was just not a big enough man for the job of President. Oh, farmers never had such good prices. The oil companies were making plenty, said Ted. Look at everybody around the table-doing well. Why the complaining? That's what Carter was talking about, somebody noted with sympathy...
...settling in; more apocalyptic imaginations foretold worldwide depression. In the U.S., motorists formed predawn gas lines, like clients at methadone clinics, to await the fuel that had so abruptly become precious. Americans could idle there and wonder if their houses would freeze in the winter, when the last heating oil guttered out of their tanks. Raised on a gospel of infinite resources, they bitterly blamed conspiracies: Arabs, oil companies, middlemen. They also gave Jimmy Carter the second lowest rating of presidential approval in the history of American polltaking...
...says Josiah Bunting, "there are proportionately as many Hamiltons, Jeffersons and Franklins as in 1776. But there is nothing which calls their kinds of talents and energies automatically into the public sector. They have available chairs of classics at Brown University and directorships at Gulf Oil, what have you." A Southern Governor agrees: "It was probably much easier for David Rockefeller to be chairman of the Chase Manhattan Bank, a powerful position in which he exercised leadership and control, than to weather the strains of public office, as did his brother Nelson...
...powerful Subcommittee on Environment, Energy and Natural Resources. A second-generation American with Lebanese grandparents, Moffett, who studied government at Syracuse University and Boston College, is a longtime defender of consumer rights. He has spoken out against high energy costs and opposes President Carter's decontrol of domestic oil prices, despite arguments from those who feel that Americans will waste gasoline until prices go up. "Government programs are still wanted," he says. "My job is to cut out the waste and the junk, and to be a leader of the programs that work well...