The Oil Industry and the Government Controls and Regulations

We are paying a subsidy of roughly three dollars a barrel on every barrel of oil imported from opec, or from anybody else outside this country. Despite the best efforts of the united states and other countries to shore up the cartel, itle brag it's a question of time. And you can see the signs already. The newspapers have been full of stories that there's going to be a glot of oil in the next few years. But they say, oh, of course, that's temporary. Wait till 19 85. Well, wait till 19 five. Let me turn to the second main factor, which has been the cumulative effect of government controls and regulations. And here the oil