Business: Crude Assaults

More ferment in fuel

When Jimmy Carter said a trillion, did he really mean to say a hundred billion or so? And did he threaten the oil companies earlier with "punitive" legislation when he actually only had an "unfriendly" law or two in mind? These were some of the weighty issues that preoccupied the policymakers on the energy front last week, as attention continued to be focused on Big Oil's current gusher of profits.

Although the national need now is for effective leadership that can begin cutting the U.S.'s dependence on foreign oil without further delay, the President and Congress spent much of...

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