Dr.Doctor Piero Bassetti
Via GesuGesù 13
20121 Milano, Italy
Dear Dr.Doctor Bassetti:
I thought our Executive Committee meetings in Washington went particularly well. Not only did we have really good discussions at the meetings among ourselves, but there was also real substance rather than just "politesse" in the meetings with the President, Henry Kissinger, and Rogers Morton, Secretary of the Interior and U. S. energy coordinator; and also, though more briefly, in the meeting with the Senate Committee on Foreign Relations. The President and also the Secretary of State in discussion responded positively to some of the concerns of our European and Japanese colleagues about U.S. foreign policy and expeciallyespecially the question of cooperation rather than confrontation with the OPECOrganization of the Petroleum Exporting Countries countries. I also feel that our emphasis on the complementary — and not conflicting — character of the French and U.S. positions on energy was of some relevance to the outcome of the subsequent Ford-Giscard meeting in Martinique.
I feel our meetings have now answered clearly one of the principal questions we had when we started the enterprise: whether a group of men and women of very different backgrounds and experience and from three different regions of the world could, in fact, reach conclusions specific enough to be meaningful. In this connection, I am enclosing a Resolution adopted by the Trilateral Commission's Executive Committee at the end of its meetings. The Committee also approved issuance of the enclosed preliminary report on relations with the developing countries as well as of a slightly revised version of the energy report which was previously sent to you for comment and of which you will later receive a printed copy.
—2—The most interesting recommendations in the reports and resolution, in my opinion, are the following:
a new bank for fund recycling with equal control by producers and consumers. If this could be created, it would not only further the necessary process of cooperation between consumers and producers, which the Executive Committee felt to be so important; but it would also mean that producers and consumers would share any bad debts, rather than having most of them borne by the United States and West Germany;
a recommendation that the annual growth of energy consumption be held below two percent in North America, three percent in Europe, and four percent in Japan;
a new international development agency to borrow $3 billion a year from the OPECOrganization of the Petroleum Exporting Countries countries at eight percent, and to make it available to the most needy developing countries at three percent. The total cost of the necessary interest subsidy would be $900 million a year, of which the U. S. share might be about $170 million, a sum small enough so that it should be politically feasible;
a Middle East peace settlement guaranteed by the United States and the Soviet Union.
I hope these will interest you.
We have very much appreciated your support, and if you have any questions on this material or any other aspect of the Commission's work, I shall be glad to try to answer them.
Zbigniew Brzezinski