This paper elaborates the original theoretical law of capital accumulation that generates scenarios of macroeconomic evolution. The main variables are relative labour compensation, employment ratio, and gross unit rent, produced capital-output ratio, proved non-renewable reserves-output ratio, desired proved non-renewable reserves-output ratio, and depletion of non-renewable reserves per unit of net output. Worsening profitability and declining employment ratio over the long term characterise an inertia scenario for the U.S. economy over 19912107. Excessive depletion of proved non-renewable reserves contributes to these disadvantageous tendencies. A forward-looking investment policy based on proportional and derivative control over proved non-renewable reserves brings about their extension, raises profitability and employment over the long term in the first normative scenario in comparison with the inertia scenario. The initial theoretical law is transformed into control law of capital accumulation. The operational application of this control law to the U.S. economy reveals and explains substantial lasting improvements in profitability, employment ratio, labour productivity and real labour compensation in the second normative scenario compared with the first normative scenario that are achieved together with extending proved non-renewable reserves due to excess income levy. Keywords: Capital accumulation, proved reserves, long wave, closed loop control, excess income levy, the U.S. economy