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OCR Page 1 of 43THE PRESIDENT HAS SEEN
DIGEST OF RECENT COMMENT
(Tues AM)
JANUARY 15, 1974
ENERGY
US News notes 1 official who has been working w/EEC on
pooling oil supplies wishes "RN luck. He'll need all he can
get. Oil crisis in Europe is such a dog-eat-dog situation
I'm be ginning to wonder whether there'll be an EEC a yr from
11
now.
LA Times says RN-HAK call for energy conf. is
really a call "for world economic planning of unprecedented
scope. 11 It would restrict each country's freedom of action
and since many fear US would end up dominating such an
arrangement, their enthusiasm is less than RN-HAK might
hope. "Yet if panic and self-seeking nat'lism win out over
collective rationality, the result could be economic catastrophe
that'd spare no one. 11 And that's the spirit of "reluctant
realism" that may pervade Feb. 11 conference. LA Times
notes 1 problem facing consumer nations will ,as be '74 BOP
deficits - Arabs can't spend money as fast it'll be coming in.
Combined w/ continuing inflation, economists fear, deficit
could result in competitive devaluations, protectionist trade
wars, severe economic slowdowns - in short, the whole
economic order unraveling. And tho outlook for DC conf
isn't too hopeful given French move and Arab suspicions of
US, the meeting itself is "an encouraging 1st step toward
rationality."
Plain Dealer's Havel finds much in Admin energy actions
to make big oil fat and happy. Profits proposal would tax
crude heavily when prices go above specified levels but critics
see it as an excise tax that'd was be passed on to consumer. Havel
notes a genuine profits tax/beaten w/ WH -big oil help and
Jackson said he can't tell WH position from that of big oil.
Time and again Admin spokesmen cite US as an energy wastrel
of too-cheap fuel, a position w/ which industry won't quarrel
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