Lee R. Raymond

Lee R. Raymond is the chairman and CEO of Exxon Corporation. In the following viewpoint, a speech given at the Economic Club of Detroit on May 6, 1996, Raymond asserts that petroleum offers many benefits as an energy source and as an ingredient in products. Raymond contends that the abundance, affordability, and improved environmental impact of oil make it an attractive resource that will be needed to spur economic growth and provide energy into the future. He maintains that the petroleum industry is continuously discovering crude oil reserves and developing cleaner-burning fuels.

As you read, consider the following questions:

1. What did Americans associate oil with in the 1970s, according to Raymond?
2. What was the finding of the Princeton University study cited by Raymond?
3. On what basis does the author criticize government policy toward alternative fuels"

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