Lethal Trajectories - Michael Conley [27]
“Come, Mr. Vice President,” Fitzwater asked sarcastically, “you’re not blaming so-called oil shortages for everything, are you? Isn’t that a bit simplistic?”
“No, I’m not blaming it for everything, but it has a multiplier effect that can’t be ignored. Over ninety-three percent of our transportation system uses oil as its base fuel. Oil is also used in everything from plastics to paints to lubricants and, of course, agricultural production. Any increase in oil prices is multiplied as its effects ripple through the economic food chain. Oil follows the immutable laws of supply and demand, and when we have an insufficient supply—which has been a growing global problem since 2012—oil prices climb and the economy plunges.”
“Some might argue that your oil dissertation is nothing more than a canard to disguise your lack of action to change the way we do business,” offered Theodore Bruce in an effort to restore his bruised credibility.
“I’d beg to differ with you on that one, Theodore. The consolidation of many federal departments into a new Department of Energy, Transportation, and Climate-change is a major structural shift. It recognizes the close symbiotic relationship between energy, the economy, and climate-change and …”
“Mr. Vice President,” Peter Shillington harshly interrupted, “you cite your ETCC department as a victory, but many of us see it a federal bureaucracy run amok. What’s the point of consolidating mediocrity under one roof and taking more power away from the people and institutions?”
“Interesting question, Peter. It’s almost impossible to wrap our arms around the broader challenges of energy, environment, and economy without a structure and strategy in place to address them in holistic terms. For example, our wasteful consumption of oil generates unacceptable levels of greenhouse gas emissions, which change the climate and impact crop production. The massive overseas transfer of our wealth to support our oil addiction kills domestic economic growth and drains the pocketbooks of the American worker. In a consumer-based economy like ours, that’s a dangerous development. Again, the multiplier effect of oil is always at work, across the board. Further …”
“Mr. Vice President,” Shillington almost screamed, “you aren’t answering my question. Your approach is taking the marketplace out of the equation in favor of big government.”
“Well first, Peter,” McCarty said is a steely voice as he looked him straight in the eyes, “that’s the second and last time you interrupt me today. I really wouldn’t advise you to do that again.”
The camera panned in on Shillington, focusing on a bead of sweat forming above his upper lip. McCarty pushed on, confident that the other panelists were ill-prepared to take the bullying and boorish guff they routinely doled out to their guests.
“Now, to answer your question, Peter, our approach is all about the free market. We want to create a level playing field with a predictability in it that will enable a CFO to feel comfortable with recommending a capital investment project. I’d also remind you that both the president and I ran our own businesses and know what it takes to meet a payroll. I think it’s safe to say we understand and appreciate the financial markets and what capitalism can and should do.”
“Isn’t the new ETCC department really a top-down approach, Mr. Vice President?” asked Fitzwater, agitation coloring his voice.
“I don’t think so, Nelson, but it recognizes the need for the government to define the playing field and set the rules for a new economy. Heaven knows, the system isn’t working now. King Oil and the climate-change issues we face require significant paradigm shifts in the way we move forward.”
“Mr. Vice President,” asked Wellington Crane condescendingly, “I take issue with your assertions on both energy and climate-change. You claim they are driving forces behind your new ETCC department, and yet my friends, who are knowledgeable people about energy, say it’s not the problem you’ve made it out to be. They say, for instance, that oil hasn’t peaked and that we’re