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दस्तावेज़
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OCR Page 1 of 27THE PRESIDENT HAS seen
K
REVIEW OF MON. AM PAPERS -- TV/DIGEST OF
"by
RECENT COMMENT
JAN. 21, 1974
ENERGY
Percy, Weicker, Bentsen and Jackson on Today all supported
some kind of legis on windfall profits, w/ Percy repeatedly noting
7 oil execs to testify on Hill to give their side of story. While
agreeing there should be incentives for exploration, Jackson
disagreed w/ Bentsen re: dereg of natural gas and noted cos.
haven't used benefits from depletion allowance to explore in US.
Weicker criticized over-consumption of energy by US and urged
money be spent on mass transit and R&D of alternative energy
sources. Jackson agreed and added 'heart of the problem" is
there's too much exploration overseas. US is importing too
much and US effort must be toward self-sufficiency, he added.
Albert on Today noted e-crisis was brought up more than
anything else during recess but constituents are mixed on
whether it's real or contrived. He doesn't foresee Hill passing
any energy bill w/out windfall profits tax in it. Rhodes agreed
on need for tax and said more production has to be encouraged.
O'Hara (D-Mich) goes along w/ that, but thinks real problem
is not that Arabs have raised actual prices but rather raised
the extraction tax, which companies deduct from their US tax
base. Thus, as companies raise prices, consumers are being
charged twice. Asked if Hill might pass price rollback, Albert
doubted wisdom of resolving an economic problem w/ such a
political situation. He doubts Hill would do it.
Anderson (R-11)
said Hill would be foolish to try to pretend this was 6 months ago.
US is in a new era of energy demand-and-supply and should
concentrate on long-term R&D solution rather than any quick
remedy.
Noting Bentsen's proposal to "quadruple fedl take from
offshore leases and limit depletion allowance, 11 NY News calls it
a "constructive proposal, unlike some of the punitive oil control
measures being bandied about on Hill. 11
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