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The Federal Energy Company

The Federal Energy Company image
Parent Issue
Day
8
Month
February
Year
1974
OCR Text

One proposal that could come out of this energy crunch is the development of a Federal Energy Company. A federal oil company would be a company that would explore and produce for oil and gas exclusively on federal land with the follwoing purposes: -to provide a type of TV A competitive spirit or a yardstick for the oil majors. -to provide a supply for any purchaser who is being victimized by monopolistic practices such as small business distributors. -to provide an assured supply of oil for national emergencies or contingencies, whether real or fabricated. --to provide experimentation in minimal environmental damage in the exploration of oil. -and, to use some of the revenues to launch into the infamous development of energy sources such as the solar and geothermal and others. Now that's what we need and there is a strong populist tradition behind this, the TVA being one. Whether its for national security, the preservation of competition, the preservation of the taxpayers equity in those federal lands and so forth. Senator (Adlai) Stevenson has introduced this bilĂ­; he has some senatorial support. And that should really be the number one focus of the present energy concerns of citizens. If we do not break the monopolistic grip of the oil industry on the economy and the govemment, we will not be able to accelerate alternative energy development.