QuoteOriginally posted by: President Ronald Reagan, Address to the University of South Carolina, Columbia, September 20, 1983There are no such things as limits to growth, because there are no limits on the human capacity for intelligence, imagination and wonder.QuoteOriginally posted by: ManuLondonBut in the market as you say if you manage to extract Oil then it's free and you can sell it, however there is a cost for the planet ... And we are going to feel it quite soon actually ; - )QuoteOriginally posted by: Senator Edward Kennedy (D-MA), New York Times, June 26, 1980A Democratic energy policy must oppose the decontrol of gas and oil prices.QuoteOriginally posted by: Representative Nick Mavroules (D-MA), February 5, 1981Last week President Reagan issued an Executive Order lifting price controls on domestic oil and gasoline... Energy prices in Massachusetts alone will escalate by 33 percent--the average household paying as much to heat itself as it does in Government taxes.QuoteOriginally posted by: Daniel Yergin, Sierra, July/August 1979Even with decontrol of oil prices, we can see a 30 percent to 40 percent decline in domestic oil production.QuoteOriginally posted by: Ulf Lantzke, Executive Director, International Energy Agency, The New Republic, Februrary 25, 1978All available evidence points to a serious risk of a serious energy crisis in the middle or late 1980s... Putting it simply, there is the very great likelihood of a major world depression.QuoteOriginally posted by: Kenneth Arrow, Professor of Economics, Stanford University, Forbes, February 4, 1980We're heading into a world of considerably higher prices. There will be a major impact on housing by 1983, and I'd be surprised if gasoline is less than $2 per gallon plus whatever inflation adds. Kenneth ArrowQuoteOriginally posted by: Representative John Dingell (D-MI), Chairman, Subcommittee on Energy and Power, Forbes, December 10, 1979It's obvious that gasoline could reach at least $2 a gallon after decontrol.QuoteOriginally posted by: Sheik Ahmed Zaki Yamani, Saudi Arabian Oil Minister, New York Times, June 21, 1979Irreversible physical shortfalls in supplies may take place as early as 1988. [The result] is likely to push market prices to levels three or four times the current one.QuoteOriginally posted by: John Mattill, Editor, Technology Review, December/January 1980World oil prices have only one way to go in the next decade--up, and probably sharply so.QuoteOriginally posted by: Lester Brown, Worldwatch Institute, Bulletin of Atomic Scientists, March 1980It would be prudent for any American contemplating the purchase of a new car to assume that gas will cost $2 per gallon with a few years and $3 per gallon during the vehicle's lifetime.QuoteOriginally posted by: Energy Action, March 24, 1979During 1980 and 1981, for each barrel of oil newly produced as a result of decontrol, the cost to the U.S. economy could range from at least $56 per barrel under the most optimistic assumptions, to about $870 per barrel under assumptions which many experts believe are realistic...Thus even if decontrol does in fact stimulate a few extra barrels of oil, the total cost to the economy of those few barrels is so high as to make decontrol the most nonsensical, irresponsible, and expensive energy supply strategy imaginable.QuoteOriginally posted by: New York Times, November 14, 1980Ronald Reagan brushed aside energy issues during the campaign, insisting the shortages could be overcome by unleashing private enterprise. But not even his most fervent supporters in the energy business share that optimism. Virtually all private forecasts predict declining domestic oil production and liquid fuel shortages in the next decade.QuoteOriginally posted by: President Jimmy Carter, March 31, 1979There is a dwindling supply of energy sources. The prices are going to rise in the future no matter who is President, no matter which party occupies the administration in Washington, no matter what we do.QuoteOriginally posted by: Alan Madian, Foreign Policy, Summer 1979A government role is crucial if the United States is to reduce its energy vulnerability... At present rates of exploitation, the United States will exhaust its own petroleum reserves in about 10 years... The only long-term solution to the liquid fuel problem is the production of substitutes.QuoteOriginally posted by: Ed Rothschild, Director, Energy Action, January 5, 1980[Because of decontrol,] the administration has placed the American economy, competition in the oil industry, and the public at the mercy of a handful of international oil companies and OPEC.QuoteOriginally posted by: Marshall Loeb, Time, July 9, 1979Decontrol would cause a political storm because prices would immediately rise. Some experts warn that gasoline prices would soar to $2 a gallon.QuoteOriginally posted by: U.S. Department of Energy, National Energy Plan II, May 1979Any surplus production capacity that individual OPEC countries may have developed in recent years will almost certainly vanish by the mid-1980s, perhaps sooner...In 1990 prices, adjusted for future inflation, oil could be selling for $42 to $55 a barrel.QuoteOriginally posted by: Lester Brown, Worldwatch Institute, Bulletin of Atomic Scientists, March 1980The day when a tankful of gasoline costs $50 is probably not far off.QuoteOriginally posted by: Leonard Silk, New York Times, June 29, 1979The present oil shortage looks like the start of a long siege. While the demand for oil keeps growing as world population and economies expand, supply slows and it is difficult to see where large amounts of additional oil will come from in the next several years.QuoteOriginally posted by: President Jimmy Carter, May 25, 1979It is obvious to anyone that looks at it [the oil crisis] that we've got a problem that's serious now. It's going to get more serious in the future. We're going to have less oil; we're going to have to pay more for it. Those are the facts. They are unpleasant facts. And so far, the American people...have refused to accept that simple fact.QuoteOriginally posted by: Robert Strobaugh and Daniel Yergin, Foreign Affairs, vol. 58, no. 3, 1979An already serious energy problem has now become an energy emergency, an emergency that will persist throughout the entire 1980s.QuoteOriginally posted by: Senator Howard Metzenbaum (D-OH), January 29, 1981Mr. President, I believe we will see $1.50 gas this spring, and maybe before. And it is just a matter of time until the oil companies and their associates, the OPEC nations, will be driving the gasoline pump prices up to $2 a gallon.QuoteOriginally posted by: Dan Lundberg, Gasoline price specialist, New York Times, February 27, 1980Estimating $1.50 [per gallon of gas] is totally, totally optimistic.QuoteOriginally posted by: Charles W. Duncan, Secretary of Energy, U.S. News and World Report, February 25, 1980One thing is for certain: prices will continue to rise. We're dealing with a scarce, finite commodity, one that will be running out in a couple of decades. Traditional criteria of supply and demand don't apply.QuoteOriginally posted by: Clifton C. Garvin, Jr., Chairman, Exxon Corp., Business Week, December 24, 1979We're going to be on the ragged edge for years.QuoteOriginally posted by: Paul Frankel, Petroleum Economics, Ltd., Dun's Review, April 1980With oil, surprises or changes can only go one way: against us.QuoteOriginally posted by: Business Week, December 31, 1979The price of oil now seems firmly locked into a steep upward spiral for the foreseeable future.QuoteOriginally posted by: Newsweek, July 16, 1979At present rates of consumption, America's oil and gas will be gone within a decade.QuoteOriginally posted by: Senator Dale Bumpers (D-AR), U.S. News and World Report, July 9, 1979Without rationing, gasoline will soon go to $3 a gallon.QuoteOriginally posted by: International Energy Agency, Energy Conservation, 1981In moving towards 1990, the industrialized countries will be walking an `oil tightrope.'QuoteOriginally posted by: Daniel White, Professor of Finance, Georgia State University Business, May/June 1979Because of this estimated decline in future oil production, estimated oil imports in 1985 have risen from 6[million] to 11 million barrels per day.QuoteOriginally posted by: Walter J. Levy, Oil consultant, New York Times, January 4, 1979A conservative assessment would project the non-Communist world's oil consumption as likely to advance from 51 million barrels daily in 1977 to 62 million per day in 1985.QuoteOriginally posted by: Business Week, December 31, 1979Most industry observers, however, believe that this time OPEC will be successful in keeping oil prices from falling.QuoteOriginally posted by: Glyn Jones, New York Times, October 2, 1979America's oil system must be nationalized as are those of Libya, Nigeria, Mexico, and Venezuela. Since there is no free market in oil, it is idle to pretend otherwise. There is no way a nationalized industry can damage or endanger us more than the present monopolistic structure.QuoteOriginally posted by: Business Week, October 29, 1979Almost inevitably, therefore, OPEC's management of the world's oil supply will keep the world economy teetering on the brink of recession.QuoteOriginally posted by: Robert Stobaugh and Daniel Yergin, Foreign Affairs, vol. 58, no. 3, 1979Responses that might have been sufficient between 1974 and 1979 no longer suffice; today the United States and all the world's importers are caught in an accute and lasting energy emergency.QuoteOriginally posted by: Carter Henderson, Bulletin of Atomic Scientists, December 1978The tragic failure of U.S. energy planning is that it has doggedly promulgated futile market-oriented solutions to energy problems.QuoteOriginally posted by: Senator Dale Bumpers (D-AR), U.S. News and World Report, July 9, 1979Rationing is the fairest and most certain way to deal immediately with this country's oil shortage.QuoteOriginally posted by: Senator Edward Kennedy (D-MA), New York Times, January 28, 1980We must adopt a system of gasoline rationing without delay...in a way that demands a fair sacrifice from all Americans.QuoteOriginally posted by: Representative Edward Markey (D-MA), New York Times, January 9, 1981I believe that decontrol as a cure will prove to be worse than the disease of oil addiction.QuoteOriginally posted by: Richard N. Cooper,Undersecretary for Economic Affairs, Department of State Bulletin, December 1980The price mechanism must be supplemented... by governmental action and guidelines encouraging or requiring conservation of oil... It is not sufficient to rely exclusively on the price mechanism.QuoteOriginally posted by: President Jimmy Carter, New York Times, February 11, 1979I think it [OPEC] has now become such an institutionalized structure that it would be very doubtful that anyone could break it down.