Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!usa-post Newsgroups: usa-today.energy From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: energy Mon, Mar 9 1992 Date: Mon, 9 Mar 92 05:46:24 EST Message-ID: 03-09 0000 DECISIONLINE: Energy USA TODAY Update March 9, 1992 Source: USA TODAY:Gannett National Information Network FIRST POLLUTION ACT RULE ISSUED: The Coast Guard Friday issued the first final rule under the Oil Pollution Act of 1990. The act is the omnibus anti-pollution legislation resulting from the Exxon Valdez oil spill in 1989. The final rule changes existing regulations to let oil spill cleanup vessels with a maximum of 50% foreign ownership operate in U.S. waters. The rule takes effect April 3. (For more, see special Act package below.) WINTER-USE GAS DUMPED: Energy futures mostly fell Friday, with plunging gasoline prices driving down the rest of the market. Unleaded gasoline for delivery in April settled at 57.73 cents a gallon, down 1.59 cents on the New York Mercantile Exchange. Home heating oil for April delivery closed at 51.03 cents a gallon, down 0.49 cent. Traders dumped gasoline for winter use as they prepare to stock up on summer gas. CRUDE PRICES LOWER: Light sweet crude oil for delivery in April settled at $18.51 per barrel, down 4 cents, at the New York Merc. For the week, sweet crude fell 17 cents a barrel on contracts for next-month delivery. Natural gas for delivery in April settled at $1.165 per 1,000 cubic feet, down 1.5 cents for the day and 0.6 cent for the week. EFFICIENCY INSTRUCTION PROPOSED: New Jersey Rep. Matthew Rinaldo wants utilities to save U.S. companies money by showing them how to reduce their energy bills. Members of the utility industry appear to like the Republican's idea but many manufacturers question whether utilities can fairly promote energy efficiency. The House Energy and Commerce Committee next week begins drafting its version of a national energy bill. NSS TO CONSOLIDATE UNITS: Nuclear Support Services Inc. Friday reported recent developments that will have an impact on second-quarter earnings and long-range results. Subsidiary company NUMANCO will be consolidated with the original NSSI manpower unit, NSS Operations, April 1, to increase operating efficiencies. NSS gives support and maintenance to the nuclear power and fossil fuel industry. OUTAGE SCHEDULES SHIFT: Nuclear Support Services Inc., explaining a merger between subsidiary NUMANCO and original unit NSS Operations, said Friday that in the nuclear market some utilities have shifted power plant outage schedules into late spring and summer. That shifts the peak demand periods for the company's manpower services into the third and fourth quarters. NSSI doesn't expect a second-quarter loss. GAS PIPELINE COMMISSIONED: The Kern River Gas Transmission Co. pipeline was formally commissioned Friday in Bakersfield, Calif. The $984 million pipeline, the largest built in the USA in a decade, ships natural gas from Wyoming to California. Much of the gas will be used in the enhanced oil recovery fields near Bakersfield. Utilities, electric generators, cogenerators, industries and others also will use it. SPILL WOULDN'T BLOCK TOURISM: A federal study has found that a major oil spill in the Florida Keys would not wipe out tourism to the area. Seventy-five percent of tourists surveyed said they would still visit in the same year as the spill. But opponents called the study inaccurate and ridiculous. SNYDER HAS DIVIDEND: Snyder Oil Corporation Friday declared a first-quarter dividend to holders of its convertible exchangeable preferred stock at $1 per share. The dividend is payable March 31 to shareholders of record March 16. Snyder, Fort Worth, Texas, is engaged in production, development, acquisition and exploration of oil and gas properties in natural gas processing and transportation. SPECIAL PACKAGE ON ACT: FOREIGN OWNERSHIP HALVED: The first final rule issued under the Oil Pollution Act of 1990 expands the limits on foreign ownership of oil spill cleanup vessels operating in U.S. waters. At 50% foreign ownership as of April 3, previously the rule was only 100% U.S.-owned vessels could take part in coastwide activities. But the change is only for activity related to oil spill cleanup. POLLUTION CENTER SET UP: The Oil Pollution Act also requires the U.S. Coast Guard to establish the National Pollution Funds Center. The center, with 85 employees, administers a $1 billion oil spill cleanup fund and recovers cleanup costs from those responsible for spills. The Coast Guard has established a staff of 80 to work on act requirements. It writes regulations, conducts studies and oversees projects. COAST GUARD'S `CAN-DO SPIRIT': Rear Adm. Arthur E. Henn says, "It is a testament to the can-do spirit of the Coast Guard and the hard work and dedication of our people that the first final rule has now been issued." The rule has been published in the Federal Register. For copies, call the Coast Guard at 202-267-6740 or fax 202-267-4624. (End of package.) Energy Editor: Beth Mann. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM