By Jay Hakes
Each American may still learn "A statement of strength Independence: How Freedom from overseas Oil Can increase nationwide defense, Our economic climate, and the surroundings" by means of Jay Hakes.
I think this booklet turns into the defining advent to the subject/issue of power independence.
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Extra resources for A Declaration of Energy Independence: How Freedom from Foreign Oil Can Improve National Security, Our Economy, and the Environment
Balance of trade. In 1974, the net energy trade deficit ran $22 billion. By contrast, the non-energy balance for the year ran a positive $18 billion. The outflow of money from the United States was matched by inflows into the Persian Gulf. Suddenly oil producers were raking in more money than could be immediately spent. From 1972 to 1974, the gross domestic product of Saudi Arabia more than tripled. Other oil-exporting nations were also experiencing extraordinary economic expansion, even with reduced oil exports during the embargo.
Motorists who had been paying $6 to fill a fifteen-gallon tank in October were by April paying over $8. They were also getting less service for their money. To control costs, dealers were reducing customer inducements like trading stamps, free maps, windshield washes, and oil checks. Federal price controllers allowed retailers to pass on their costs, but a quirk allowing refiners and dealers to raise prices only on the first of the month contributed to the shortages. The energy office announced in midFebruary that service stations would be allowed to add an additional two cents on retail prices, based on higher costs for crude oil, and raise their profit margins from 8 to 10 cents a gallon on March 1.
After the embargo, many in and out of government were looking for new solutions that might reverse negative trends in energy and bring about the kind of energy independence Nixon had talked about. 33 The former congressman from Michigan was well aware the tide of oil imports continued to rise. He quickly vowed in his first address to Congress that to avoid another energy crisis he would push Project Independence. Ford stayed personally involved in energy policy in a way unmatched by Nixon, even during the embargo.
A Declaration of Energy Independence: How Freedom from Foreign Oil Can Improve National Security, Our Economy, and the Environment by Jay Hakes