ENERGY: Countering the Oil Cartel

"The problem is grave, but it is soluble."

The problem: the energy crisis. The speaker: Henry Kissinger, in a major policy address at the University of Chicago last week. The Secretary of State has long recognized that the economic and political dislocations rocking the globe show all the signs of events that in many times past have led to bloody conflict. Convinced that economic sanity can be restored through concerted efforts by the industrial powers—the U.S., Western Europe, Japan and Canada—he spent months pondering policy options. He and his staff went through ten...