On this day, November 7 in 1973 US President Richard Nixon announced “Project Independence” to increase domestic US energy production (especially from coal), in the immediate aftermath of the first Oil Shock.
Nixon had been warned about carbon dioxide build-up, it was a known thing (see for example August 3, on this site, from 1970 “Nixon warned about climate change and icecaps melting”) But, as with Shale Gas and synfuels slightly later (under Carter), all bets are off when consumers are facing higher energy prices.
[The amount of carbon dioxide in the atmosphere was 326 ish ppm. At time of writing it was 416ppm- but for what it is now, well, see here for the latest.]
Why this matters.
The first oil shock was part of the turbulence that ended the “Glorious Thirty” – three decades of sustained economic growth in the West. See also “The Great Acceleration”, which has continued non-stop
What happened next?
Vietnam, Watergate, Second Oil Shock etc etc etc.