Editorial

The Energy Crisis and the Age of Oil

An Editorial

THE CURRENT national situation called the "Energy Crisis" is a striking reminder that we are in the second Age of Oil rather than in the Nuclear Age, and that there was an "Energy Crisis" during the first Age of Oil. An editorial in the Wall Street Journal last month brought this out in some detail in reference to the fact that the oil during the first Age of Oil came from the whale, and that the scarcity during the mid-19th century brought about the first energy crisis.

The Journal's columnist, W. Philip Gramm, stated: The whale oil crisis is a case study of how the free-market system solves a scarcity problem. The end product of this process of discovery and innovation is the Petroleum Age in which we live. We owe the benefits and comforts of the present era to free enterprise and the scarcity of whales.

It was during that first energy crisis of 1783 to 1825 that the revival of whaling occurred, and in which the whalemen of Nantucket led the way. The remarkable story of their migrations to Nova Scotia in Canada, to London, England, and Dunkirk, France, and the rebirth of the business in the old home port of Nantucket constitutes not only an amazing accomplishment for the Nantucketers but has created a chapter in the larger sweep of international maritime history.

This first Age of Oil has been nearly forgotten but when we observe the 200th anniversary of the Boston Tea Party, and recall this was but a small episode in the over-all story of that entire period, we should be aware of the tremendous sweep of the full story.

As we approach the bicentennial of our Nation's birthday the role that Nantucket played in the economic portion of the first years of the Republic should be revived. There is much to learn from the travail of Quaker Nantucket during the Revolution and the War of 1812. There were other crises as well as that associated with energy, and the courage and dedication of the island community provides both a timely measure and an inspiring message.