I am transmitting herewith the Twelfth Annual Report to the Congress of the National Advisory Council on Economic Opportunity.

This threat to the oil supplies from Iran and Iraq is a vivid demonstration of the need for the exact energy policy that my administration has put through the Congress and now has implemented.

I congratulate the House and Senate conferees for completing work last night on a tough, energy-sound windfall profits tax.

I hope that this will be a signal to the Congress to act without delay on the three major bills.

We remain the world's most powerful force, and the American people and the Congress are now united with me in keeping the United States second to none in military strength.

I transmit to the Congress the annual report to be submitted under section 381 (c) of the Energy Policy and Conservation Act.

I also transmit for the information of the Congress a comprehensive report prepared by the Department of Health, Education and Welfare.

I urge early congressional action on the proposal.

Therefore, as I noted in my message of August 27, 1979, I asked the Secretary of the Treasury to prepare a report on this complicated subject, which, as you know, has involved the Congress and this Administration in long deliberations in recent years.

I can assure the Congress that the new framework established by the bill will be put to a good and vigorous use.

The most important thing the Congress can do is to pass an energy package to give us an identifiable American energy policy.

I respect the hard work and good intentions of the Members of Congress who have prepared this legislation.

I urge each Member of Congress to support my veto and to work with me immediately to develop a responsible bill that can be passed this year.

No challenge the Congress and the Executive Branch must face together is more painful than the exercise of budgetary discipline.

I am returning H.R. 12928, the Energy and Water Development Appropriations bill, to the Congress without my approval.

I am pleased, because its enactment is a reflection of what Congress can accomplish when skillful and dedicated leaders of both Houses work closely together in a common cause.

S. 1678 is a fine example of cooperation between the Congress and the executive branch in making regulatory programs meet their underlying purposes.

We will have legislation very shortly establishing the firmest possible restraint on major public officials in the Congress and my administration concerning ethics.