[John Tower Speech at Financial Times -- Oil Daily Forum Conference on Oil and Government, 1974?, Draft] Page: 3 of 14
This text is part of the collection entitled: Senator John G. Tower Collection and was provided to The Portal to Texas History by the Southwestern University.
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2
ON THE OTHER HAND, WE LUST RECOGNIZE THAT WE HAVE NO RJGKT TO
EXPECT FOREIGN COUNTRIES TO CONTINUE TO EXHAUST THEIR RESOURCES
FOR OUR BENEFIT, NOTWITHSTANDING THAT WE HAVE ABUNDANT SUCH
RESOURCES IN OUR OWN COUNTRY. FINALLY, TO PARAPHRASE THE
PRESIDENT OF MOBIL OIL CORPORATION, WE CANNOT PREDICATE OUR
FOREIGN POLICY ON THE ASSUMPTION WE WILL NOT HAVE TO DEPEND ON
FOREIGN OIL IN SOME DEGREE FOR SOME TIME IN THE FUTURE.
THESE CONSIDERATIONS LEAD ME TO TWO ESSENTIAL CONCLUSIONS.
THE FIRST IS THAT WE SHOULD MOVE IMMEDIATELY TO EXPAND OUR
RESERVES BASE IN THE UNITED STATES. SECONDLY, OUR DEPENDENCE
ON FOREIGN ENERGY SUPPLIES SHOULD BE BOTH REDUCED AND DIFFUSED.
LOOKING TO THE LATTER FIRST, I WOULD SUGGEST THAT FOREIGN
EXPLORATION AND PRODUCTION IN NATIONS OTHER THAN THOSE BELONGING
TO OPEC SHOULD BE ENCOURAGED, FOR ONE EFFECTIVE WAY TO DEAL WITH
A CARTEL IS TO DILUTE ITS STRENGTH. I UNDERSTAND THAT THE SOUTH
CHINA SEA AND THE WEST COAST OF AFRICA, AMONG OTHER PLACES, OFFER
SIGNIFICANT PROSEPCTS. FURTHERMORE, WE ARE NOT WITHOUT LEVERAGE
IN THE PRESENTLY PRODUCTING NATIONS. I EXPECT THEY'D HAVE A
ROUGH TIME OF IT IF WE PULLED OUT LEAVING THEM WITHOUT OUR
TECHNICAL AND MANAGERIAL EXPERTISE, AS WELL AS A SOURCE OF
PRODUCTION EQUIPMENT.
A DISCUSSION OF THE EARLIER POINT - EXPANDED DOMESTIC
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Tower, John G. (John Goodwin), 1925-1991. [John Tower Speech at Financial Times -- Oil Daily Forum Conference on Oil and Government, 1974?, Draft], text, 197X; (https://texashistory.unt.edu/ark:/67531/metapth601056/m1/3/: accessed April 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Southwestern University.