Yes. But I think it's accurate to point out that the major impediment-one of the major impediments to increased drilling on the Atlantic seaboard has… - Jimmy Carter

The other comment I'd like to make is concerning the Middle East. In the last few days we have seen, I believe, an historic breakthrough in the search for a permanent, lasting peace in the Middle East because of the true leadership qualities that have been exhibited by the courage of President Sadat and the gracious reception of him in Israel by Prime Minister Begin. This has been, already, a tremendous accomplishment. I think the importance of it is that there has been an initiation of direct, person-to-person negotiations between Israel and the major power in the Mideast among the Arab nations who are Israel's neighbors. Lebanon, Syria, Jordan have a total population of about 12 million; Egypt has a population of 36 million and has by far the greatest military force. And the fact that this strongest Arab country and the nation of Israel are now conducting direct negotiations is a major accomplishment in itself. Two of Israel's most cherished desires have already been met. One is this face-to-face negotiation possibility, and the other one is a recognition by a major Arab leader that Israel has a right to exist. In fact, President Sadat said, "We welcome you in our midst." The United States has been very pleased to see this reduction in distrust and a reduction in fear and a reduction in suspicion between the Arabs and the Israelis. We have played a close consultative role with both of these leaders. We have, on several instances recently, acted as intermediaries at their request. Both Prime Minister Begin and President Sadat have publicly expressed their reconfirmation that these exploratory talks are designed to lead toward a comprehensive settlement including Israel and all her neighbors.Sunday, President Sadat called for a conference in Cairo. This is likely to be held around the 13th of December, about the middle of December. We will participate in that conference at a high level--Assistant Secretary Atherton will represent our Nation. We look on this as a very constructive step. The road toward peace has already led through Jerusalem, will now go to Cairo and ultimately, we believe, to a comprehensive consultation at Geneva. It's not an easy thing to bring about a comprehensive peace settlement. Immediate expectations have sometimes been exaggerated. The definition of real peace--I think we've made good progress on that already. The resolution of the Palestinian question still has not been decided. And the solution to the problem concerning borders and national security has also not been decided. We have played, I think, a proper role. I have tried to convince, in the past, Prime Minister Begin of the good intentions of President Sadat and vice versa. When there has been no progress being made, the United States has taken the initiative. Now that progress is being made, a proper role for the United States is to support that progress and to give the credit to the strong leadership that's already been exhibited by Prime Minister Begin and President Sadat and to let our Nation be used, as called upon, to expedite the peace process. I believe that this is a move that the whole world looks upon with great appreciation. And again, I want to express my congratulations and my appreciation to these two strong leaders for the tremendous progress already made and for their commitment to future progress.

I'd like to outline very briefly for you, in the time I have available, some of the achievements already. But I want to emphasize again, I'm not bragging about it because we recognize, as does Vernon Jordan, my friend, that we have a long way to go. We've set as a goal for this year the reduction of the unemployment rate from 8.1 percent, which it was last December, to 7 percent by the end of this year. We've already reached that goal, and we expect it to go on down, perhaps as low as 6.5 percent before the end of the year, with a trend downward that will be maintained. We have also created just a few of the jobs that I have described to you. Of the $4 billion public works bill--the benefits that have not mirrored in the reduction in unemployment that we've already seen; that's still to come because it takes a long time to get these programs going once the Congress approves the measure--of the $4 billion, we last week signed the first contracts for less than one percent of the money that's available. But beginning with this week, we will be approving 1,000 public works contracts per week, and we'll have all $4 billion allocated by September 30 and, for the first time, for the first time, 10 percent of every contract must go to a minority subcontractor or supplier. This can mean $400 million in additional, new income for minority business men and women.

With massive arsenals still on hair-trigger alert, a global holocaust is just as possible now, through mistakes or misjudgments, as it was during the depths of the Cold War.