Most experts agree that the timetable for Operation Independence —President Nixon's code name for the achievement of U.S. self-sufficiency in energy by 1980—is unrealistic. Under the best of circumstances, it will take longer than that. But there is nothing unreal about Nixon's call for the commitment of $10 billion for energy research and development over the next five years. Since Congress strongly backs the idea, the funds will likely be appropriated. The money can certainly be well spent; the question is how best to divide it among worthy programs.
An answer lies in...