Page 7: of Maritime Reporter Magazine (May 1973)

A.E. Gibson, President

Interstate Oil, Speaks

On 'Energy Crisis' of great power and prosperity which followed World War II was at the heart of the matter. "While most of the world was forced to rebuild at great cost and personal sacrifice, we were able to bound exuberantly ahead in a way that ill-prepared us for the type of prob- lem-solving which is needed to- day."

Mr. Gibson projected a trade deficit in energy of from $15 to $20 billion for the United States, and a total deficit among major industrial nations of almost $50 billion by 1980. "Unless we are able to develop a consolidated policy among the three importing areas (Western Europe, the United

States and Japan), one result will be that we will find ourselves en- gaged in a wild scramble for ex- ternal earnings to meet these de- mands."

He called for effective and vigor- ous national action to avoid greater consequences, which will occur if the energy shortages become a na- tional malaise," sapping "our in- dustrial vitality and our consequent economic and political strength."

In concluding his remarks, Mr.

Gibson, indicated that while the problems are staggering, he felt the country's leadership was well equipped to solve them.

Andrew E. Gibson

Andrew E. Gibson, president of

Interstate Oil Transport Company,

Philadelphia, Pa., recently called for strong industrial and civic lead- ership to augment the Govern- ment's efforts to meet the domestic energy problems of the United

States.

He made his remarks in a key- note speech at the Sheraton Hotel in Philadelphia during a one-day symposium, "Oil, Energy, and the

Delaware Valley." The conference was sponsored by the Franklin In- stitute, Drexel University, Dela- ware Valley Council, and the Dela- ware Valley Regional Planning

Commission.

Mr. Gibson called for a clear formulation and implementation of an effective long-range energy pol- icy. "Hopefully," he indicated?- "in the near future such a statement will be forthcoming." He stated that the country's energy prob- lems will occur essentially over the next 10 to 15 years. "Our domestic oil supply is critically short, and given the dimensions of the de- mand, we have no alternative but to import large quantities of crude oil to meet future requirements until at least the mid-80s."

Mr. Gibson stated that any do- mestic alternative requires "long developmental lead times." As an example, he noted that it required seven years for. a nuclear power plant to become operational, while the development of gas and oil from coal, while technically pos- sible, is still a good number of years away from being economical- ly viable.

Mr. Gibson is the former As- sistant Secretary of Commerce for

Domestic and International Busi- ness. He played an active role in the United States-Soviet trade ne- gotiations. He was formerly the

Assistant Secretary of Commerce for Maritime Affairs, where he guided the long-range program to rebuild the American merchant marine.

In referring to his dealings with the Soviets, Mr. Gibson observed that the Soviet Union did not ap- pear to have any energy balance problems. "Indeed, they appear to have a remarkable large energy surplus," he said.

Directing his attention to the origin of the energy problem, he indicated that the country's period carboline

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Moy 1, 1973 9