Ronald Reagan, 40th U.S. president, “If we can put a man on the moon, we can find ways to heat and light our homes and industries”
The Gipper was governor of California when the first major oil shock started in 1973 which prompted emergency measures to reduce reliance on foreign crude.
The world is once again facing an oil shock with just a trickle of ships transiting the Strait of Hormuz, through which around 20% of the world’s oil and liquified natural gas pass. The vital waterway was effectively closed by Iran after Israel and the United States began attacking the country on 28 February.
The ceasing of traffic through the strait has sent global fuel prices soaring and forced countries to implement rationing measures to conserve their reserves. The world has been here before, when Organization of Arab Petroleum Exporting Countries (OAPEC) decided to intentionally turn off the taps for the U.S. and other nations that supported Israel in its 1973 fight with Egypt and Syria, known as the Yom Kippur War.
How the Gipper handled the 1973 oil shock
In January 1974, then governor of California, Ronald Reagan, announced measures to reduce fuel consumption in the state during his State of the State address. Like many states that didn’t already have 55 mph maximum speed limit, California voted to lower theirs to conform with federal policy.
The Gipper explained that an executive order he signed sought to reduce state vehicle fuel consumption by 10% and called on residents to do the same. Likewise, he asked families and businesses to cut energy use by 10% and eliminate unnecessary use of fuel and power.
He also advocated expanding the use of nuclear energy as well as developing renewable sources like geothermal, solar and “every other promising means of meeting our energy needs.”
“The energy problem is a crisis now,” Reagan said. “But it can be an historic opportunity to free America forever of dependence on unstable foreign oil that can be turned on and off at will, by those who would use world commerce for economic blackmail and coercion.”
“If we can put a man on the moon, we can find ways to heat and light our homes and industries,” he added.
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