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, Apr 13 1992 Date: Mon, 13 Apr 92 05:42:38 EDT Message-ID: 04-13 0000 DECISIONLINE: Energy USA TODAY Update April 13, 1992 Source: USA TODAY:Gannett National Information Network ENERGY NOT ON CAMPAIGN AGENDAS: Before the Colorado primary, the Democrats beat up one of their own over nuclear power. In Michigan, the Republicans waged a bidding war on requirements for auto gas mileage. That's about the extent of discussion of energy issues so far in the presidential campaign. And, absent a blowup in the Middle East, it may remain the standard - quick hits aimed at specific audiences. (For more, see special Energy package below.) OIL PRICES END WEEK HIGHER: Most petroleum prices rose in the energy futures markets Friday, strengthening on a late burst of buying. On the New York Mercantile Exchange, light sweet crude for May delivery settled at $20.44 a barrel, up 13 cents for the day and up 15 cents for the week. Last week's trading was marked by a surge in prices to the highest level of the year, then a retreat and the beginnings of a surge again. REFINED PRODUCTS DOWN FOR DAY: Among refined products Friday, home-heating oil for May delivery settled at 56.14 cents a gallon, up .62 cent for the day but down .14 cent for the week. Unleaded gasoline for May delivery fell .33 cent on the day to 61.39 cents a gallon. For the week, unleaded gasoline was up 1.26 cents. Natural gas closed at $1.294 per 1,000 cubic feet, down 1.6 cents but gained 1.7 cents for the week. ETHANOL ISSUE RAISED: Midwest House members continue to fight the Environmental Protection Agency on Clean Air Act regulations that are expected to favor oil-based methanol over corn-based ethanol. The alternative fuel will be added to reformulated gasoline required for use in some highly polluted areas. Rep. Dennis Hastert, R-Ill., said increased use of ethanol can give Midwest farmers a boost. HEARING PLANNED ON ISSUE: Rep. Tom Ewing, R-Ill., said last week that the 1990 Clean Air Act promised that ethanol would compete equally with other alternative fuels. "Exclusion of ethanol from those major markets (with high pollution) could spell doom for the industry," Ewing said. The House Agriculture forest, family farms and energy subcommittee plans a hearing on the issue April 29. ADDINGTON TO TAKE $3.1M CHARGE: Addington Resources Inc. Friday announced a settlement in which Addington Resources and certain of its affiliates and Pyramid Mining Inc. have agreed to dismiss their claims against each other in a 1990 U.S. District Court suit. As a result of the settlement, Addington Resources expects to incur an after-tax charge of approximately $3.1 million against first quarter 1992 earnings. LITIGATION SETTLED: Petrominerals Corp. Friday announced that the litigation arising out of the termination of the 1987 merger agreement between Petrominerals Corp. and McFarland Energy Inc. and its subsidiaries has been settled. Without admitting or denying guilt, McFarland Energy agreed to pay the sum of $50,000, which constitutes partial reimbursement of Petrominerals' litigation costs. DOE CLARIFIES LIST: The Depart of Energy Friday clarified a report listing 45,361 sites in the USA where there's potential radioactive contamination. A single facility may contain hundreds of locations within it where radioactive material is handled, and the survey listed each one as a separate site. DOE said this leaves the impression that there are more radioactive sites in the USA than previously known. MD. PASSES GAS TAX HIKE: A $500 million tax package - called the largest single tax hike in Maryland history - has been signed into law. Included in the tax are a 5 cents per gallon hike for gasoline and higher taxes on snack foods and cigarettes. SPECIAL PACKAGE ON ENERGY: SOME SAY ISSUE IS IMPORTANT: By fall Congress is likely to have passed and President Bush signed a national energy policy bill, taking more edge off the issue's urgency. But energy watchers in Washington say it ought to be a front-burner issue. And the two Democrats still in the race, both more committed to alternative energy and conservation than finding new sources of domestic oil, may give energy some focus. IMPORTS COULD REACH 60%: Charles DiBona, president of the American Petroleum Institute, said cheap gas prices and plentiful supplies give a false sense of security. The next time the U.S. oil supply is threatened by Middle East hostilities the nation could be importing more than 60% of its oil, he said. In fact, the Energy Department estimates the USA could be importing 60% of its oil by 2010, compared with 42% now. CANDIDATES' PLANS DIFFER: President Bush and Democrats Jerry Brown and Arkansas Gov. Bill Clinton all say their energy plans will cut dependence on foreign oil. They differ in how they replace that foreign oil. The oil industry wants options for new exploration in areas vigorously opposed by environmentalists who say alternative fuels and more efficient energy use are the way to cut export dependence. BROWN WANTS TO REPLACE NUKES: Bush's energy strategy had some of both, including opening the Arctic National Wildlife Refuge, now considered a dead issue this year. Clinton and Brown both favor alternative fuels and conservation over new production. Brown, in fact, would use alternative fuels to replace all nuclear power production. But developing alternative fuels is a long-term process. (End of package.) 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