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Email L. Henry Platt, Jr.
  Henry Platt

CHANGE OF CIRCUMSTANCES

Ten years ago "Platt's Petroleum Proposal" was posted in this section where it may still be found. The recommendation at that time with petroleum prices fluctuating both down as well as up was a valid consideration. Today is different.

In the second decade of this century worldwide consumption of petroleum is exploding where the two most populous nations on our planet are quintupling their consumption of oil. Until China finds large reserves in its own country, the price of oil can be expected to continue to rise uncomfortably.

"Platt's Petroleum Proposal" is now obsolete. Using our nation's strategic oil reserve should be kept for catastrophic needs - not for political gamesmanship.

A very recent article in Investor's Business Daily reports that at today's prices we have many decades of oil supply in proven reserves within the United States.


 
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