This Day In 1970's History: Sunday January 30, 1977
- A "permanent, very serious energy shortage" probably faces the country, President Carter said when he flew by helicopter to a plant in the Pittsburgh area that has been affected by the cold. Conservation "will be the major component" of a comprehensive national energy policy he will send to Congress no later than April 20, the President said. [New York Times]
- Utilities suddenly canceled a plan to stop natural gas service to about 5,500 industrial and commercial users and saved 71,000 jobs in New York City and Westchester County, and federal officials said the danger of interruption in gas service to homes had diminished. But the severe cold still kept more than 1.5 million workers across the country idle and may force more people from their jobs later this week. [New York Times]
- A new gas field discovered in Texas could provide enough gas to the entire country for six months. But its owner is reluctant to let it go outside Texas because consumers in the state pay more for it than those in other states. Texas buyers pay about $2 per thousand cubic feet for natural gas, while out-of-state buyers are under federal price controls that prohibit them from paying more than $1.42 per thousand cubic feet. [New York Times]
- The joblessness brought about by the natural gas emergency is putting a heavy new burden on state unemployment insurance funds already strained by earlier unemployment caused by two years of recession. Even before the new crisis, 21 states have had to call on the federal government for $3.9 billion in loans to keep their funds from going bankrupt. New York state will join them next month. [New York Times]
- With skepticism is the way businessmen and economists view the most novel element in President Carter's proposed tax relief for business, which is an optional tax credit tied to an employer's Social Security tax payments. The Carter economic stimulus program is widely regarded as insufficient, and the Social Security, or payroll, tax credit is looked upon as especially dubious. [New York Times]
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