She drove down from North Carolina to see me, and reminded me of scriptural lessons that tragedies and disappointments should be a source of increase… - Jimmy Carter

Dolph Briscoe is my friend, and I don't want to get into a personal interrelationship with him except on a basis of mutual understanding and friendship. I think it's accurate to say that Congressman Krueger and several other Members of the Congress have adequately put forward the so-called Texas plan for energy development which, in my opinion, is primarily based on a complete deregulation of the price of oil and natural gas, which I think at this time would be inappropriate and a devastating load to the well-being of the consumers of this Nation. I also think it's unwarranted. The degree of deregulation which we have advocated, a substantial improvement over what it is now, would result in the natural gas field alone in a $15 billion increase in the income of the natural gas companies between now and 1985. There have been assessments made by the Library of Congress and by the GAO and other groups who advise Members of Congress, that the so-called Krueger Plan--I haven't seen the Briscoe Plan; I would guess they are similar and perhaps have a similar origin--would cost the consumers of our country maybe $70 billion more than what we advocate. But I think that this is a crucial question in the overall energy concept-whether or not we should have extremely high prices to be established by the oil and natural gas companies without constraint and accept their proposition that exploration would build by leaps and bounds, that we would have unlimited supplies of oil and natural gas as a result, and that this is the best approach, or our own proposition on the other hand. I don't think that a crash program to extract oil and natural gas in a hasty fashion from American supplies is advisable under any circumstances. I think that the emphasis on conservation and a shift toward coal, which we advocate, is the best approach. I also don't think there would be substantially increased exploration if oil was worth $20 a barrel and if natural gas was $3 or $4 a thousand cubic feet. I think the present rate of exploration would not be substantially enhanced, but it would be a great windfall to the oil and natural gas companies of our Nation. As I said in the letter that Dolph Briscoe has, as I said in my speech on the energy proposal to the Congress back on April 20, our first move toward deregulation is one that will be followed later by others. It's a first move to carry out my commitment. But I can't bring myself to accept the proposition it ought to be done peremptorily. We've advocated, by the way, a $1.75 price for natural gas to be moved in interstate and intrastate supply lines, which is a substantial increase over interstate price now, and I think is adequate.

Democracy’s great recent successes — in India, Portugal, Spain, Greece — show that our confidence in this system is not misplaced. Being confident of our own future, we are now free of that inordinate fear of communism which once led us to embrace any dictator who joined us in that fear. I’m glad that that’s being changed. For too many years, we’ve been willing to adopt the flawed and erroneous principles and tactics of our adversaries, sometimes abandoning our own values for theirs. We’ve fought fire with fire, never thinking that fire is better quenched with water. This approach failed, with Vietnam the best example of its intellectual and moral poverty. But through failure we have now found our way back to our own principles and values, and we have regained our lost confidence.

Good afternoon, everybody. Have a seat, please. I apologize for interrupting your meeting. First of all, I want to thank you for coming to the White House to interview our people and to let me see some old friends. Jody 1 began this program at the beginning of this year over some opposition of mine, because I thought it would be too time-consuming, and I was afraid we couldn't get enough benefit from it and understanding of what we are doing in the White House. This is the 16th meeting we've had so far, more than 450 editors and others from around the country. Jody tells me every State except three-we haven't had anybody yet from Hawaii or Alaska or, just because of scheduling, Vermont--but 20 percent of the newspapers in the United States have had editors here at the White House this year to talk to me personally and to ask questions in an unrestricted way. It's been a very helpful thing for us in telling the American people accurately what we are doing, what our problems are, what our achievements have been, what our plans are for the future. As has been my custom, I'd like to take about 5 minutes to outline present circumstances, what's going on right now, and then spend the other 25 minutes answering your questions.