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OCR Page 1 of 13THE PRESIDENT HAS SEEN daf
DIGEST OF RECENT COMMENT
December 21, 1973
ENERGY
Simon on CBS AM interview said rationing decision has not been
made and he refused to guess if it'd be needed. He hopes conserva-
tion will succeed so rationing can be forestalled. He denied rationing
cards had been printed but did admit there had been some work on
designs. Simon was tremendously encouraged by the Gallup poll
showing voluntary compliance and he believes the public is ready to
make sacrifices. Asked if there would be an excess profit tax,
Simon said the industry cannot be allowed to reap the total benefit
but it was a Hill decision as far as the tax was concerned. He pointed
out there won't be a reasonable price for energy til supply and
demand are back in balance. Asked if RN would veto Energy Bill,
Simon said WH-Hill are trying to work out differences and he is hopeful
they will succeed.
WS Journal believes RN would "be better off w/out any (energy) bill at
all than to put signature to package Hill has designed. Measure contains
a few provisions Admin would like to have, but none they can't do w/out."
Further "heart and soul" of legislation "is its grant of authority to RN
to ration. From past experience w/such Hill generosity
RN must
realize that once he accepts that authority he 11 be bulldozed into
exercising it. 11 Journal adds "once it delivers authority, Hill will
show not slightest interest in any alternatives to rationing
What's
worse, bill gives RN unlimited authority only when it comes to rationing. 11
Monitor says 10 gallon request "should prompt fullest possible
compliance" by all.
Bus Week says to deal w/energy crisis, US economy needs
effective fed'l program of conservation/allocation and complete,
accurate info on what fuels will be available and what cutbacks in fuel
use will be necessary. "Admin has made a fair start" toward 1st
requirement, but so far has not only failed to meet 2nd but has contributed
to fear and uncertainty by series of wavering, contradictory announce-
ments. "5-fold error (re: gas production cutback) does not invite
confidence, 11 says mag. And gov't errors have been magnified by
panicky reaction of some businessmen who should know better. Facts
do not sustain gloomy predictions of blackouts and voltage cuts, airline
forecasts of disastrous service cuts, or metals/plastics makers seeing
8% unemployment by Spring. "Sooner fed'l energy administrators give
businessmen and consumers an accurate description of their program and
its economic consequences, sooner they can expect a rational response, 11
concludes Bus Week.
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