THE ECONOMICS OF ENERGY: What Went Wrong by Roger Le Roy Miller


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Miller timidly attempts to lift the rug on the present ""oil crisis."" But before he finishes raising one corner, he darts to another, producing more confusion than clarification. While he demonstrates the enormous influence exerted by the ""oil monopoly"" on the U.S. government, he is at a loss to explain why the oil corporations gave into the Arab ""demands"" ""without so much as a fist fight."" Miller believes that this generation's energy gluttons will ruin our grandchildren, but refuses to consider alternate sources of energy like fusion power, since they could not be developed by ""free market"" mechanisms. And while he believes that high free-market pricing would create sufficient fuel supply, he meanwhile counsels ways to cope with the shortage. Debunking Nixon's ""self-sufficiency by 1980"" rhetoric, Miller suggests that ""Nixon's Biggest Coup (Maybe)"" is pulling the oil hoax to cover up Watergate. Nelson Rockefeller's control over the oil monopolies, and his brother's power over the banks through which the Arabs borrow and deposit, are by-passed. Miller's six-point economic and political program advocates an end to special monopoly ""privileges"" like tax loopholes; an end to price controls; and separation of foreign and economic policy. But why those monopolies should be left intact, and why they should set our ""free market"" prices, Miller does not explain.

Pub Date: March 15th, 1974
Publisher: Morrow