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| General Delegate for Energy in the Ministry of Industry who coordinated government policies and those of the state owned energy companies |
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| “we must pursue a policy of diversification of energy and try to decrease the need for oil” |
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| led the board of senior executives that questioned the 7 major oil companies about the so called ‘oil crisis’ |
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| He noted that the oil companies were still reporting huge increases in profits while the Arab oil embargo was still in effect |
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| He speculated that the whole thing was just a cover to eliminate the major source of price competition: the independents |
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| proclaimed that the companies were making ‘obscene profits’ |
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| Aug. 1971, he imposed price controls to ‘stamp out’ inflation on most aspects of the economy. Most expired by 1974 except the ones on oil |
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| 1975, he expanded Nixon’s Project Independence by committing to build nuclear power plants, synthetic fuel plants, coal mines and coal-fired power plants, oil refiners, and synthetic fuel plants |
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| championed a $100 billion program to subsidize synthetic fuels and other high-cost energy projects that commercial markets didn’t support—never went through |
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| 1977 Jimmy Carter became president |
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| devoted to creating a national energy policy within 90 days of his inauguration |
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| Ph.D. economist, instructed by Carter to make energy policy |
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| part of Rand Corporation for the Bureau of the Budget, then Chairman of the Atomic Energy Commission, then director of the CIA, then Secretary of Defense! |
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| Close friend to Carter’s rival Senator Jackson |
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| Believed hydrocarbons would be under growing pressure, which posed a major economic and political danger for the U.S. |
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| Believed prices would inevitably rise and balance the market |
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| While still chairman of the Atomic Energy Commission, he suggested U.S. promote conservation on grounds of national security and environmental improvement |
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| Now in 1977,he believed conservation should be central to any energy policy |
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| President Jose Lopez Portillo |
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| (1976) allowed for expansion of the oil industry |
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| President Jose Lopez Portillo |
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| needed a plan to jump start the dying economy again |
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| President Jose Lopez Portillo |
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| Appointed an old friend, Jorge Diaz Serrano as the head of Pemex |
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| knew the oil industry and realized it would provide Mexico with desperately needed foreign revenue, boost economic growth, provide collateral for international borrowing, and put Mexico at center of the new oil-based international economy—renewed growth!!! |
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| FIRST N. SEA oil= British Secretary of State for Energy, He turned a valve near the River Thames and oil from the Argyll field flowed through |
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| Prime Minister of Britain, realized they would become technologically advanced in oil production—also, he hope to be the Chairman of OPEC by 1980 |
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| leading proponent of a Long-Term Strategy for OPEC, now changed his tune |
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| Began to argue for regular, small increases in price that would encourage conservation and development of alternative sources |
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| Guaranteed that there would be a shortage in the future so basically prepare now |
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| His rival was Senator Jackson |
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His 3 goals:
• Development of nuclear power
• Return to coal
• Conserve energy |
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