FINAL WARNING: Ready to Spring the Trap
accused the Nixon Administration of “creating a managed oil shortage
to force support of its energy programs.” A 1973 study by Philadelphia
Inquirer reporters Donald Bartlett and James B. Steele, revealed, that
while American oil companies were telling the U.S. to curtail oil
consumption, through a massive advertising campaign, the five largest
oil companies (Exxon, Mobil, Texaco, Gulf, and Standard Oil of
California) were selling close to two barrels overseas, for every barrel
(42 gallons) of oil sold here. They accused the oil companies and the
Federal government of creating the crisis. In 1974, Lloyd’s of London,
the leading maritime insurance company in the world, said that during
the three months before the Embargo, 474 tankers left the Middle East,
with oil for the world. During the three months at the height of the
crisis, 492 tankers left those same ports. During the Embargo, Atlantic
Richfield (ARCO, whose President, Thornton Bradshaw was a member
of the CFR) drivers were hauling excess fuel to storage facilities in the
Mojave desert. All of this evidence points to the conclusion that there
was no oil shortage in 1973.Antony C. Sutton wrote in Energy: The Created Crisis: “Our mythical
energy shortage can be dismissed with a few statistics. The U.S.
consumes about 71 quads (a ‘quad’ is one quadrillion BTU’s, or 10 to
the 15th power British Thermal Units) of energy per year. There is
available now in the U.S., excluding solar sources and without oil and
gas imports, about 151,000 quads. Consequently, we have sufficient
energy resources to keep us functioning at our present rate of
consumption for about 2,000 to 3,000 years– without discovering new
reserves. Even at higher consumption rates there will be no problem in
the next millennium”In 1977, independent petroleum companies discovered 88% of the new
oil fields, drilling on 81% of those. They have been hampered by the
large corporations, referred to earlier as the Seven Sisters, who
wanted to avoid adding to our national supply so they can profit from
the higher prices. Carter’s Department of Energy was established to
perpetuate the propaganda of the existence of an energy crisis.In 1975, an anonymous ARCO official told Hugh M. Chance, a former
State Senator from Colorado, that the Government had allowed only
one pool of oil in a 100 square mile area on Alaska’s North Slope, to be
developed, even though the entire area north of Brooks Range has so