We need to establish a floor on oil prices now

The world’s thirst for oil is growing so quickly humanity will consume more of it this decade than over the previous hundred years. Production can’t possibly keep up. And the consequences will be dire.

“This surge of demand will soon begin to send shock waves through the American economy and transportation system,” wrote one expert. The American interior secretary agreed. An era of “frightening energy scarcity” could be just a few years away, said Rogers C.B. Morton.


Sounds awfully familiar, doesn’t it? But readers with an impressive knowledge of American political history will be a little suspicious – because Rogers C.B. Morton was interior secretary under presidents Nixon and Ford.

This warning of a pending “energy crisis” was actually published in The Atlantic in October, 1972.

Ottawa Citizen