[John Tower Speech at Financial Times -- Oil Daily Forum Conference on Oil and Government, 1974?, Draft] Page: 1 of 14

                                
SPEECHi GIVEN AT FINANCIAL ThVMES -- OIL DAILY FORUM
CONFERENCE ON OIL AND GOVERNMENT
LADIES AND GENTLEMEN,
I AM PRIVILEGED TO HAVE THE OPPORTUNITY TO ADDRESS SUCH A
DISTINGUISHED AUDIENCE AT THIS VERY SIGNIFICANT CONFERENCE. I
SHALL SPEND NO TIME EMPHASIZING THE IMPORTANCE AND MAGNITUDE OF
THE INTERNATIONAL ASPECTS OF PRESENT ENERGY DISLOCATIONS.
FOR IF YOU WERE NOT AWARE OF THEM, YOU OBVIOUSLY WOULD NOT BE IN
ATTENDANCE HERE TODAY. I WILL TAKE THE LIBERTY, HOWEVER, OF
EMPHASIZING THAT YOUR CONCERNS WITH THE GEOPOLITICS OF OIL ARE
SHARED BY ME AND MANY OF MY COLLEAGUES IN THE FEDERAL GOVERNMENT.
I WAS ASKED TO DISCUSS WITH YOU THE TOPIC, HOW SHOULD ENERGY
POLICY BE DETERMINED. HOPEFULLY, YOU WILL FORGIVE ME IF THESE
COMMENTS ARE DIRECTED AS WELL TO, HOW ENERGY POLICY SHOULD NOT
BE DETERMINED.
AT THE OUTSET, I SHOULD LIKE TO CONCUR IN EXPRESSED POLICY
THAT THIS NATION IS OVERLY DEPENDENT ON FOREIGN SOURCES OF ENERGY,
PRIMARILY CRUDE OIL. THUS, IT FOLLOWS THAT SOME YET-TO-BE-DEFINED
POLICY OF INDEPENDENCE IN ENERGY IS DESIREABLE. ONE GOOD REASON,
AS WE LEARNED FROM THE OIL BOYCOTT EARLIER THIS YEAR, IS THAT WE
SIMPLY CANNOT PERMIT OIL TO BE AN UNCONTROLLABLE FULCRUM FOR OUR
FOREIGN POLICY. IT MIGHT NOT BE TOO UNKIND TO SAY THAT WE SHOULD
NOT REMAIN VULNERABLE TO THE BLACKMAIL OF EXPORTING NATIONS.