In the United States, President Nixon has told the American people that the energy crisis is real but that oil companies will not be allowed to profiteer from it.
GV White House
CU Nixon speaking
"Well the facts that have been brought to me indicate these conclusions: The shortages are real. They may become more servers and, in the long term, they are potentially very dangerous.
But this is on the good news side. If we continue our voluntary sacrifices, I am confident we can prevent hardship this winter for the American people, and, that we can avoid gas rationing this spring.
I also want to make this point. The big oil companies will not be allowed to make unconscionable profits from this crisis and they will be required to provide the American people with the full facts regarding their supplies.
The sacrifice made by the American people in the energy crisis must be for the benefit of all the people and not just for the benefit of some big business - We will not tolerate private profiteering at public expense. Prices must be held down.
"Now you may have heard some of those scare stories that you'll son by paying a dollar for a gallon of gasoline. Well the American people cannot afford to pay such prices and I can assure you that you will not have pay them.
Americans must also know the full, and the true, facts of this matter. I assure you that I shall not allow the American people to be the victims of a snow job in a crisis which affects the jobs, the comfort, the very way of life of millions of Americans.
Initials SC/2215 JS/AH/BB/2228
The text of an extract of Mr. Nixon's speech which is included in this film is given below.
Script is copyright Reuters Limited. All rights reserved
Background: In the United States, President Nixon has told the American people that the energy crisis is real but that oil companies will not be allowed to profiteer from it.
In a nationwide radio broadcasting on Saturday (January 19), he praised Americans for their fuel saving efforts and said he would do everything in his power to ensure that the oil companies did not reap the benefits of these private sacrifices.
In his speech he said he was confident that, if voluntary savings continued, hardship could be prevented this winter and there would also be no need for gasoline rationing.
But he warned that the energy crisis would be brought home to Americans in the most devastating fashion if they slackened their fuel saving efforts.
President Nixon also discounted stories that the price of gasoline could reach a dollar a gallon -- a price which he said Americans could not afford to pay. Gasoline is already at about this price level in a number of European countries.