Rotary Club - April 16, 1976
Mentioning a new institution: the International Energy Agency - a "cooperative enterprise"
"We are by nature a self-critical people and never more so than in our election year. This causes us sometimes to take for granted the solid achievements of the recent past.
- Faced with an oil embargo and an energy crisis the United States took the lead in establishing -together with the other industrial democracies- a new institution: the International Energy Agency. This cooperative enterprise will enable the industrial democracies to support each other in case of another embargo. It has established common conservation policies and common policies for the development of alternative sources of energy. A great challenge has brought forth a cooperative and vital response.
- Faced with global recession the heads of Governments of the United States, Great Britain, France, Germany, Italy, and Japan met to concert their economic policies. They stimulated fresh approaches to reinforce each others' programs for recovery, trade, and energy. They agreed on monetary reform which over time may usher in a period of unparalleled economic progress. Most fundamentally they symbolized their political cohesion and shared moral values.
- Faced with the growth of Soviet power we have strengthened the defenses of our alliances with new programs of planning, consultation, modernization, and standardization.
- And faced with the need to fashion more balanced partnerships we have intensified our consultations and our collaboration."
