/ rr :. a w H HI 1^1 KAS0L1;r. supply , fa . cusm;: controls W * '* '" / - \ * ( *<> A CASH STUDY OF TODAY'S COKPIXX lllTEft-REUTIOilSIlIPS by Layton !!. Cll " ell Senior Vice President, 't o r n Oi l Corporation I . T . nLur.'Ji Ad v is o r y Co u n c il Ca m b r id g e , " a s s . January 2 3 , 197^1 It ' s good to be here among f r ie n d s . Of course 1 suspect t h a t some OF m i MAY SUSPECT THAT THE ENERGY CRISIS IS THE RESULT OF SOME DARK CONSPIRACY AMONG THE BIG OIL COMPANIES. uUT AT LEAST I KNOW YOU KILL LISTEN WITH COURTESY. AND THAT IF YOU APE SKEPTICAL OF ANYTHING I SAY, IT WILL BE HONEST, SCIENTIFIC SKEPTICISM. T h is is not the a t t it u d e we encounter in IN THE PRESS, OR ON TELEVISION. Washington these days , or THE OIL INDUSTRY IS THIS YEAR'S Gr e a t Am er ic an Scapegoat . But l e t ' s go back to 19% w hich was a la ?idhark year in the creation OF OUR ENERGY PROBLEMS, AND TRY TO TRACE THE COMPLEX WEB OF INTER­ RELATED ACTIONS THAT HAVE BROUGHT US TO THE END OF AH ERA OF ABUNDANT, LOW-COST ENERGY. l i l t TOTAL SAVINGS IN OIL 1 M would nn 8 3 3 /0 0 0 barrels o r o i l PER DAY ~ ENOUGH TO FEED FIVE OR SIX LARGE FINERIES, By 1085/ THIS SAVINGS WOULD REACH 1 /7 1 3 ,0 3 0 DAILY DARRELS Th i s i s m o m th an r 2 OF OUR TOTAL CRUD£“ O IL CONSUMPTION IN 1972, • 8E ESTIMATES MAY DC CONSERVATIVE, Ife ARE PARTICULARLY HOPEFUL THAT NEW HARDWARE — SUCH AS SONIC CARBURETORS — CAN EE DEVELOPED THAT WILL IMPROVE GASOLINE MILEAGE AND, AT THE SAME TIME, REDUCE HARMFUL EMISSIONS EVEN FURTHER. I BELIEVE MANY CONGRESSMEN ARE AWARE OF THE BENEFITS OF FREEZING THE 197*1 EMISSION STANDARDS. THEM, ! ' e CERTAINLY NAVE DONE OUR BEST TO INFORM 15UT IT REMAINS TO DE SEEN HOW MANY WILL HAVE THE POLITICAL FORTITUDE TO VOTE THAT WAY. And NOW I SHOULD LIKE TO CLOSE, NOT e x a c t ly w it h a p r a y e r , b u t w it h A B IT OF VERSE I CLIPPED FROM A RECENT ISSUE OF i.'uCLFAP D.'fiINFERf?ifi I nternati onal, T N I t' s called I S MAKING THE MOST OF IT S ; and ' ir goes like 'M THE SENSATION-LOVING PUBLIC IS ALWAYS KEEN TO BUY HORRIFIC FUTURE FORECASTS THAT ALL OF US WILL DIE FROM CAR EXHAUST POLLUTION, OR EXCESSIVE CO^. OVER-POPULATION. UNDERFED, OR WHAT-HAVE YO u , • And of course ato m ic energy , w hich w it h im a g in a t io n can do a MILLION TIMES MORE HARM THAN REAL RADIATION? - l« l - Such people, with conFiRMED belief that science will impose CATACLYSMIC ARMAGEDDON/ TURN EAfiC£LT TO THOSE WHO/ FINDING liO B IlA L WORK BRINGS L IT T L E E H O f ll TO THEIR NAME/ BEGIN TO REALIZE OPPOSITION IS THE W A Y TO FAKE... A n d F O R T U N E / T O O — F R O M SPEAKING/ W R I T I N G ; ANYTlUMS. T H E Y TRY. , Qu i t e su d d en ly t h e y An d s o , f in d th e world o ix e - h o n est s c ie n t is t s / a l a r m is t t h i n k i n g a ;: d d e n y t h e is c r y in g , .q u i t o b u y . p h il o s o p h e r s r a t io n a l — et al/ t u r n to q u e s t io n in g a u t h o r it y AND BRINGING DISREPUTE TO THOSE OF TRUES CONSCIENCE WHO/ WHEN CALLED ON TO REFUTE THE R ISING CLAMOR/ S T IL L REPLYING TERMS OF MODERATION WHICH RARELY HAKE THE HEADLINES/ OP AFFECT THE S ITU ATIO N . An d SO/ Ma k e my f r ie n d s , un su ppo r ted fo r g e t t h e c a u t io n t h a t yo u s t a t e m e n t s b a s e d on m e a g r e , learned a t hearsay c o lleg e. kn o w led g e. ilAKE DECLARATIONS THAT YOU KNOW V IILL STIMULATE THE GREED OF MASOCHISTIC PEOPLE WITH AM APPETITE TO FEED. &© Jims y o u ' l l MAKE A FORTUNE, WHILE YOUR ERSTWHILE COLLEAGUES STRIVE TO CALM THE PUBLIC TERROR THAT YOU'VE HELPED TO BRING A L IV E . O