Energy Security Corporation and Synthetic Fuels and Conservation Programs White House Statement on Senate Approval of Legislation.

The President this morning expressed his pleasure with the Senate's actions in approving a strong synthetic fuels and conservation program and the establishment of an energy security corporation.

While refinements in the bill will have to be made, the most important elements of the President's program are intact and strong. The President said, "The Senate has ensured that there will be a strong synthetic fuels program and a significant institution to carry it out. The bill's conservation program is a strong, substantial initiative. I congratulate Chairman Jackson, Senator Johnston, and Senator Domenici for their able and dedicated work.

"My administration will continue its close cooperation with congressional leaders in support of this legislation. The uncertain nature of our energy supplies cannot be overemphasized; but this action, together with the continued steady progress of the energy mobilization board and the windfall profits tax, is a step toward regaining control of our Nation's future."