Show DANGEROUS SITUATION r r rr r w s. s 4 f 4 it r l sir i r i i 1 0 i CONSTRUCTIVE ACTION NEEDED We Americans pride ourselves on our farsightedness but when it comes to our energy situation we look backward After being badly hurt by the Arab oil embargo of 74 1973 you would think we would have learned our lesson Instead we have stuck our whole head into the lions lion's mouth We are arenow arenow arenow now more dependent on foreign oil than ever before About 40 per cent of the petroleum we use in the US U.S. or 7 million barrels a day is imported imported and and 30 per cent of that comes omes from the same nations that boycotted us as compared to 18 per cent before the embargo Clearly this is a dangerous situation Even now the Organization Organization Organization Orga Orga- of Petroleum Exporting Countries on whom we depend for 82 per cent of our imported oil are talking about raising their prices by 10 per cent or more And we are helpless because Congress has continued its policies of holding domestic prices at an unrealistically low level thus discouraging discouraging discouraging aging further development of energy resources in the US U.S. Sen Paul Fannin in the special energy issue of NAM Reports Reports Reports Re Re- ports magazine of the National Association of Manufacturers stated that energy independence can come only through a positive program that reasserts the economic integrity and freedom of both industry and the American consumer consume Are you listening Congress |