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massive advertising campaign, the five largest oil companies (Exxon, Mobil, Texaco, Gulf, and
Standard Oil of California) were selling close to two barrels overseas, for every barrel (42
gallons) of oil sold here. They accused the oil companies and the Federal government of creating
the crisis. In 1974, Lloyd’s of London, the leading maritime insurance company in the world,
said that during the three months before the Embargo, 474 tankers left the Middle East, with oil
for the world. During the three months at the height of the crisis, 492 tankers left those same
ports. During the Embargo, Atlantic Richfield (ARCO, whose President, Thornton Bradshaw
was a member of the CFR) drivers were hauling excess fuel to storage facilities in the Mojave
desert. All of this evidence points to the conclusion that there was no oil shortage in 1973.
Antony C. Sutton wrote in Energy: The Created Crisis: “Our mythical energy shortage can
be dismissed with a few statistics. The U.S. consumes about 71 quads (a ‘quad’ is one
quadrillion BTU’s, or 10 to the 15th power British Thermal Units) of energy per year. There is
available now in the U.S., excluding solar sources and without oil and gas imports, about
151,000 quads. Consequently, we have sufficient energy resources to keep us functioning at our
present rate of consumption for about 2,000 to 3,000 years– without discovering new reserves.
Even at higher consumption rates there will be no problem in the next millennium”
In 1977, independent petroleum companies discovered 88% of the new oil fields, drilling on
81% of those. They have been hampered by the large corporations, referred to earlier as the
Seven Sisters, who wanted to avoid adding to our national supply so they can profit from the
higher prices. Carter’s Department of Energy was established to perpetuate the propaganda of the
existence of an energy crisis.
In 1975, an anonymous ARCO official told Hugh M. Chance, a former State Senator from
Colorado, that the Government had allowed only one pool of oil in a 100 square mile area on
Alaska’s North Slope, to be developed, even though the entire area north of Brooks Range has so
much oil, that if it were drilled, “in five years the United States could be totally energy free, and
totally independent from the rest of the world as far as energy is concerned.” The Prudhoe Bay
oil field is one of the richest oil fields on earth, able to produce an oil flow for at least 20 years,
without the need of a pump; and a natural gas supply which could supply the entire country for
200 years. However, the Government wouldn’t allow it to be pumped out, and it is funneled back
into the ground. The Gull Island find had a different chemical structure, as did the Kuparuk oil
field, west of there, which meant that the three different chemical compositions indicated the
existence of separate pools of oil on the North Slope in an area of 50,000 square miles. Needless
to say, this seems to be an almost unlimited supply of domestic oil.
Another ARCO official told Lindsey Williams, a chaplain for the work camps on the Trans-
Alaska Oil pipeline, that “there will never be an energy crisis (because) we have as much oil here
as in all Saudi Arabia.” Williams had witnessed a huge oil discovery at Gull Island (5 miles north
of Prudhoe Bay in the Beaufort Sea) that could have produced so much oil, that the official said
that another pipeline could be built “and in another year’s time we can flood America with oil-
Alaskan oil ... and we won’t have to worry about the Arabs.” However, a few days after the find,
the Federal Government ordered the documents and technical reports locked up, the well capped,
and the rig withdrawn. Their excuse was that an oil spill in that part of the Arctic Ocean would
kill various micro-organisms. Williams felt that the U.S. Government was deliberately creating
an oil crisis, and delaying the flow of oil, in order to bankrupt the oil companies, which would
lead to the nationalization of oil and gas.
William Brown, Director of Technological Studies at the Hudson Institute, said: “The
President (Carter) said there is no chance of us becoming independent in our oil supplies. That is