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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Jan 14, 1975
Page
7
Gerald Ford faced a tough economic bilan, proposing higher energy costs with import duties and taxes while promising rebates and tax credits to offset inflation. The plan aims to curb consumption, spur productivity, and force shared sacrifice across all Americans amid recession and high oil prices.
President Ford abandoned voluntary oil usage limits and unveiled a broad energy program. It would cut oil demand by about one million barrels per day this year and two million daily by 1977, mainly via higher gasoline prices and a $1 to $3 import tax per barrel, with imports limited if needed. The plan includes energy research funding and a 1985 goal for energy independence, signaling stronger federal action beyond self discipline.
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