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 Wed, May 6 1992 Date: Wed, 6 May 92 05:32:34 EDT Message-ID: 05-06 0000 DECISIONLINE: Energy USA TODAY Update May 6, 1992 Source: USA TODAY:Gannett National Information Network GASOLINE PRICE RISES: The American Automobile Association said Tuesday that the price of gasoline at the pump has risen to its highest level of the year. The nationwide average price for a gallon of self-serve regular unleaded was up 1.8 cents, to $1.107, for the week ended Tuesday, AAA said. Prices had not been that high since Dec. 24, when a gallon of self-serve regular unleaded went for $1.108. OIL PRICES FALL: Oil prices fell Tuesday, reversing their year-high gains. Light sweet crude oil for delivery in June settled at $20.80 a barrel, down 32 cents, at the New York Mercantile Exchange. In the previous session, oil had risen 27 cents to its high point for the year. Lower-grade sour crude for delivery in June settled at $18.15 per barrel, down 32 cents. NATURAL GAS HAS STRONG GAINS: Refined products lost ground Tuesday at the New York Merc. Unleaded gasoline for delivery in June settled at 65.57 cents a gallon, down .88 cent. Home heating oil for delivery in June settled at 56.60 cents a gallon, down .96 cent. Natural gas prices showed strong gains, with contracts for delivery in June settling at $1.529 per 1,000 cubic feet, up 7.1 cents. ALERT STILL ON AT PALO VERDE: A safety alert continued Tuesday at the Palo Verde Nuclear Generating Station in Wintersburg, Ariz., after three monitoring systems failed Monday, but no radiation was released, officials said. Engineers worked to repair lights and chimes that warn operators of potentially dangerous changes in the way the plant is running. SALEM II RESTART THWARTED: A bid to restart the Salem II nuclear plant - shut down by turbine accident Nov. 9 - was thwarted Tuesday when steam a valve malfunctioned, utility officials said. Officials may try to restart the Lower Alloways Creek Township, N.J., plant as early as Thursday. ALTERNATIVE-FUEL CARS FOR RENT: Avis is offering low-polluting cars to its customers, the first such move by a nationwide car rental company. Avis said Tuesday that 20 1992 Chevrolet Luminas in Sacramento, California are equipped to run on methanol or unleaded gasoline or a combination of the two. SHUTTLE CONVERTS TO NATURAL GAS: Independent airport van company SuperShuttle is starting to convert its fleet to natural gas fuel. Natural gas costs less per mile and burns cleaner than gasoline, saving money and helping SuperShuttle meet California pollution laws. Competitors have poured into the market the last few years; the natural-gas move is one the company is taking to have a good-guy image among consumers. UNOCAL INKS DEAL WITH DOE: Unocal Corp. said Tuesday that it has signed a contract with the Department of Energy to provide crude oil distribution services for the Strategic Petroleum Reserve Texoma Group from the company's Beaumont, Texas, terminal. The deal gives DOE the capability of distributing 200,000 barrels per day from the SPR's Texas and Louisiana storage sites to tankers at Unocal's Beaumont Terminal. CONTRACT COULD TOTAL 20 YEARS: Unocal Corp.'s contract with the Department of Energy is for five years. After the initial term, DOE can exercise up to three, five-year options, extending the contract to a total of 20 years. In addition to providing distribution service for DOE, the Beaumont Terminal has more than 6.7 million barrels of tankage for crude oil, finished and unfinished petroleum products and chemicals. RUSSIAN NUKE MATERIALS FOR SALE: The troubled Russian nuclear industry Wednesday will announce its first significant deal to supply radioactive materials to the West. The Russian Ministry of Atomic Energy and Industry is setting up a joint venture with Amersham International of Britain. Mayak, its production center at Chelyabinsk in the Urals, will manufacture radioactive isotopes for Amersham to sell worldwide. NUMBERS MIXED ON GM'S ELECTRIC: General Motors' electric car will roll out of the assembly plant in early 1994 in time for spring selling season. But the company is less sure about how many of the two-seaters the public will be willing to buy. GM has established varying production forecasts, calling for a 1996 production of as few as 4,600 cars or as many as 23,000, according to a report from an internal GM supplier. COAL-FIRED BOILER APPROVED: A coal-fired boiler has been approved by Tennessee despite objection that Tennessee Eastman Division facility in Kingsport will worsen pollution in the Great Smoky Mountains National Park. Tennessee Eastman said it needed the 30-megawatt boiler to replace older power plants. OUTPUT RISE OFFSET BY PRICES: Prairie Oil Royalties Company Ltd. said Tuesday that its earnings fell in the first quarter. Net earnings for the quarter were $570,000, or 7 cents per share, down from $960,000, or 12 cents per share. While crude oil production rose 21% in the quarter, the gain was offset by the effects of lower crude oil and natural gas prices. 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. 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