INTERIOR AND INSULAR AFFAIRS,

UNITED STATES SENATE

Pursuant to S. Res. 45

The National Fuels and Energy Policy Study

NINETY-FOURTH CONGRESS

FIRST SESSION,

ON

THE RATIONALE FOR AND THE ECONOMIC IMPACT OF

THE ENERGY PROPOSALS PRESENTED BY PRESIDENT

FORD TO THE 94TH CONGRESS

SENATE RESOLUTION 45

KF26

15 975 b

NATIONAL FUELS AND ENERGY POLICY STUDY

This publication is printed for the use of Senators participating in the National

Fuels and Energy Policy Study, authorized by Senate Resolution 45 of the 92d

Congress.

Senate Resolution 45, introduced by Senators Jennings Randolph and Henry

M. Jackson, was amended and agreed to by the Senate on May 3, 1971. The

resolution authorized the Senate Committee on Interior and Insular Affairs and

ex-officio members of the Committees on Commerce and Public Works and the

Joint Committee on Atomic Energy to make a comprehensive study of programs

and policies required to meet national energy needs.

Subsequently, the Senate approved the addition of ex-officio members from the

Committees on Aeronautical and Space Sciences, on Finance, on Foreign Rela-

tions, on Government Operations, and on Labor and Public Welfare.

COMMITTEE ON INTERIOR AND INSULAR AFFAIRS

HENRY M. JACKSON, Washington, Chairman

GRENVILLE GARSIDE, Special Counsel and Staff Director

DANIEL A. DREYFUS, Deputy Staff Director for Legislation

WILLIAM J. VAN NESS, Chief Counsel

D. MICHAEL HARVEY, Deputy Chief Counsel

HARRISON LOESCH, Minority Counsel

EX-OFFICIO MEMBERS FOR NATIONAL FUELS AND ENERGY POLICY STUDY

RICHARD D. GRUNDY, Executive Secretary and Professional Staf

DAVID STANG, Deputy Director for Minority

(II)

Hearings:

January 31, 1975-

February 6, 1975__.

February 12, 1975___

FRIDAY, JANUARY 31, 1975

STATEMENTS

Hansen, Hon. Clifford P., a U.S. Senator from the State of Wyoming_----

Jackson, Hon. Henry M., a U.S. Senator from the State of Washington___

Morton, Hon. Rogers C. B., Secretary of the Interior; accompanied by Hon.

Jack Carlson, Assistant Secretary of the Interior for Energy and Min-

erais; Hon. Frank G. Zarb, Administrator, Federal Energy Administra-

tion; accompanied by Hon. Eric Zausner, Assistant Administrator, Fed-

eral Energy Administration; Hon, Charles W. Robinson, Under Secretary

for Economic Affairs, Department of State; and Hon. Gerald L. Parsky,

Assistant Secretary of the Treasury, Trade, Energy, and Financial Re-

sources Policy Coordination; accompanied by Philip Mann, Tax Legisla-

tive Counsel___.

Parsky, Hon. Gerald L., Assistant Secretary of the Treasury for Trade,

Energy, and Financial Resources Policy Coordination-----

Randolph, Hon. Jennings, a U.S. Senator from the State of West Virginia.
Robinson, Hon. Charles, Under Secretary of State for Economic Affairs____
Zarb, Hon. Frank G., Administrator, Federal Energy Administration_‒‒‒

ADDITIONAL MATERIAL

"Autos and Fuels Postponing the Inevitable," from the Washington Post.

Jan. 19, 1975, by Robert J. Samuelson, a free lance writer specializing

in economic affairs----

Randolph, Hon. Jennings, a U.S. Senator from the State of West Virginia :
Letters to:

President Gerald R. Ford, January 14, 1975___
Hon. Frank G. Zarb, January 23, 1975-----

THURSDAY, FEBRUARY 6, 1975

STATEMENTS

Buckley, John G., vice president, Northeast Petroleum Industries, Inc_____

Embersits, John F., director of university operations, Yale University,

New Haven, Conn----

172

203

158

108, 141

Fuqua, Ben H., senior vice president, Florida Power & Light Co..

Ignatius, Paul R., president, Air Transport Association, Washington,

D.C----

Jackson, Hon. Henry M., a U.S. Senator from the State of Washington_-_. 107

Nichols, Guy W., president and chief executive officer, New England Elec-

tric System, and member, executive and management committees of the

New England power pool...

161

--

148, 149

168

Owens, Charles, president, Charles Owens & Associates, Inc.----

Roseman, Dr. Herman, president, National Economic Research Associates,

Inc

(III)

ADDITIONAL MATERIAL

Ignatius, Paul R., president, Air Transport Association, letter to Senator

Jackson, March 3, 1975----.

Page

144

"Simon Lowers Forecast on OPEC Cash Buildup," from the New York

Times, January 31, 1975, by Edwin L. Dale, Jr----.

184

S. Res. 59-Energy Conservation, from the Congressional Record, February
5, 1975---

125

WEDNESDAY, FEBRUARY 12, 1975

STATEMENTS

Cooper, Dr. Richard, professor, Department of Economics, Yale University,

New Haven, Conn----

Herr, Eric B., economist, Data Resources Inc., Lexington, Mass_-_

Jackson, Hon. Henry M., a U.S. Senator from the State of Washington____

Janeway, Dr. William, vice president, F. Eberstadt & Co., Inc., New York,

N.Y

Lichtblau, John A., executive director, Petroleum Industry Research

Foundation, New York, N.Y‒‒‒‒

231

221

209

216

226

Sawhill, Dr. John C., former Administrator, Federal Energy Administra-

tion

211

ADDITIONAL MATERIAL

Analysis of Gasoline Rationing, executive summary-description of ration-
ing system, prepared by the Federal Energy Administration____
"Inflation 1973: The Year of Infamy," by William Nordhaus and John
Shoven, from the Challenge magazine, May-June 1974....

Randolph, Hon. Jennings, letter to George M. White, Architect of the Cap-

itol, February 18, 1975_-_

277

253

237

1975 International Business Review-Will Araby Bankrupt the World?

from the Saturday Review, January 25, 1975–

243

APPENDIXES

APPENDIX I

Answers in response to questions submitted by Senator Stone from the

Federal Energy Administration, and the Departments of State and

Treasury

APPENDIX II

Material submitted by the Federal Energy Administration___.

APPENDIX III

Wheeler, Edwin M., president, the Fertilizer Institute, letter to Senator

Jackson, February 13, 1975__.

Coalition to Save New York, Inc., statement-.

APPENDIX IV

President Ford's State of the Union Message..

APPENDIX V

A staff analysis of President Ford's energy program..

293

337

693

694

699

803