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 Tue, Mar 3 1992 Date: Tue, 3 Mar 92 06:00:08 EST Message-ID: 03-03 0000 DECISIONLINE: Energy USA TODAY Update March 3, 1992 Source: USA TODAY:Gannett National Information Network OIL PRICES DROP IN SLOW TRADING: Oil futures prices fell Monday in lethargic trading. Light sweet crude oil for delivery in April settled at $18.34 per barrel, down 34 cents, at the New York Mercantile Exchange. Lower-grade sour crude for delivery in May settled at $15.75 per barrel, down 30 cents. REFINED PRODUCTS FALL: Prices for refined products futures also declined at the New York Merc Monday. Home heating oil for delivery in April settled at 50.20 cents a gallon, down 1.38 cents. Unleaded gasoline for delivery in April settled at 58.75 cents a gallon, down 1.08 cents. Natural gas prices were mostly lower, with contracts for delivery in April settling at $1.167 per 1,000 cubic feet, down 0.4 cent. TEXACO REPORTS 1991 RESERVES: Texaco Inc. reported Monday that at year-end 1991 it had 2.711 billion barrels of worldwide net proved liquid reserves and 6.277 trillion cubic feet of worldwide net proved natural gas reserves. Excluding purchases and sales, 61% of the worldwide reserve additions in 1991 were in the categories of new fields, new sands, extensions and enhanced recovery operations. DOE GETS LAST PERMIT: Nevada Monday issued the last of three major permits the Department of Energy needs to begin studies at the proposed Yucca Mountain nuclear waste dump, but state officials said they still oppose construction. The issuance of a water permit to DOE follows its receipt of two permits from the state Division of Environmental Protection last summer for the Yucca Mountain project. NUKE POWER HEAD QUITS TVA: Dan Nauman, head of the Tennessee Valley Authority's nuclear power program, resigned Monday after a year on the job. Nauman, 50, gave no reason for leaving the federal utility except to say he wants to pursue other interests. Oliver Kingsley, Nauman's boss, will run the nuclear power program until a successor is found. CONSUMER POWER STARTS PROGRAM: Consumers Power Co., Jackson, Mich., Monday began trading $50 savings bonds for old refrigerators to be recycled under new conservation program. Catalyst: Michigan ordered the utility to design a plan to forestall need for new power plants. Demand for electricity has risen by 14% since 1981. The two-year, $65 million program will cost the average customer 20 cents a month. GADHAFI ISSUES THREAT: Libyan leader Moammar Gadhafi has vowed to set Libya's oil wells ablaze and flood its coast with sea water if U.S. military forces invaded. Libya refuses to hand over two men wanted for the 1988 bombing of Pan Am Flight 103 over Lockerbie, Scotland, in which 270 died. COLUMBIA GAS SEEKS EXTENSION: Natural gas producers whose contracts were rejected by Columbia Gas Transmission Corp. would have an additional 30 days to file claims against the company if a motion now pending before the U.S. Bankruptcy Court for the District of Delaware is approved. The motion filed by CGT would extend the deadline for filing claims associated with rejected gas purchase contracts to April 17. CGT WANTS CLAIMS QUANTIFIED: March 18 remains the deadline for all other creditors to file proof of claims against Columbia Gas Transmission and its parent company, The Columbia Gas System, Inc. CGT said Monday it is seeking to allow more time for producers to quantify their claims arising from the rejection of some 4,700 gas purchase contracts last year to accommodate discussions now underway with them. JAPAN DRAFTS PLAN FOR ELECTRICS: The Japanese government recently drafted a program to increase the number of electric cars in practical use from the current level of 1,000 to 200,000 by the end of the decade. The plan calls for making vehicles available to local governments, distributors and the transport industry. Charging stations will be set up by the government. PUBLIC FORUM ON RATES SET: The New York Power Authority Monday said it will hold a public forum on April 3 in Syracuse on a proposed rate increase for hydroelectric power used by residential and farm customers. NYPA trustees proposed the gradual four-year increase in January. The hike would increase the average monthly bill of a residential customer about 60 cents in each of the four years. DURACELL GOES MERCURY-FREE: Duracell U.S.A., the alkaline battery giant, Monday announced plans to introduce mercury-free alkaline batteries with the same performance as its current low-mercury alkaline batteries. The company expects to begin shipping the new batteries to retailers by mid-1992. The mercury elimination effort is one part of Duracell's strategy to minimize the impact of its products on the environment. Energy Editor: William Snoddy. (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