Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.energy From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: energy Fri, May 15 1992 Date: Fri, 15 May 92 05:12:19 EDT Message-ID: 05-15 0000 DECISIONLINE: Energy USA TODAY Update May 15-17, 1992 Source: USA TODAY:Gannett National Information Network PREDICTION MADE ON ENERGY PLAN: President Bush should have a national energy policy on his desk by late summer, Rep. Phil Sharp, D-Ind., a House leader on energy issues, said Thursday. But first, the House has to pass its bill. Then House and Senate will have to compromise on their separate versions. Still, Sharp is optimistic a policy strong on conservation and efficiency will result. ETHANOL AS ENHANCER PROPOSED: Two corn-state representatives Thursday introduced a bill that could force oil companies to use more ethanol. The bill from Reps. Jim Jontz, D-Ind., and Tom Ewing, R-Ill., would require oil companies to use a domestically produced, renewable, non-petroleum source - such as corn-based ethanol - as an octane enhancer in gasoline. (For more, see special Ethanol package below.) OIL FALLS ON OPEC SPECULATION: Speculation that Saudi Arabia will try to push OPEC's production ceiling higher sent oil prices lower Thursday. Light sweet crude oil for delivery in June settled at $20.55 per barrel, down 21 cents, on the New York Mercantile Exchange. Rumors circulating through the oil markets indicated the Saudis might try to hike the output ceiling by 1 million barrels a day, to about 24 million. REFINED PRODUCTS DECLINE: Refined petroleum products fell Thursday at the Mercantile Exchange. Unleaded gasoline for delivery in June settled at 62.99 cents a gallon, down .72 cent. Home heating oil for delivery in June settled at 56.76 cents a gallon, down .45 cent. Natural gas prices continued their recent rise, with contracts for delivery in June settling at $1.623 per 1,000 cubic feet, up 6.1 cents. LAYOFFS EXPECTED AT EXXON: Exxon is expected to announce Friday a budget-cutting plan that could eliminate as many as 1,500 jobs at its U.S. subsidiary, the Houston Chronicle and Houston Post report. In an internal memo issued Wednesday to Exxon's 20,000 U.S. employees, President Henry Longwell called a meeting to discuss company operations. Exxon wouldn't comment except to say it has scheduled meetings. NEW BUILDING CODE HELPS SALMON: In the Pacific Northwest, pending plans to protect migrating salmon will reduce the supply of hydroelectric power, so utilities are investing in energy efficiency. They recently agreed with the region's 18 builders of electrically heated manufactured homes on a tough new building code. It will cover 10,000 to 30,000 new factory-built homes a year, saving five to seven megawatts annually. ILLINOIS GETS CNG PUMPS: Amoco Oil is operating its first Illinois retail outlet for compressed natural gas as it expands its network for alternative fuel operations. The latest opening in Warrenville, near Chicago, gives Amoco natural-gas facilities in five cities, with plans for more in the company's 30-state marketing area. ERROR CAUSED SPILL: Commonwealth Edison Co. officials said Thursday that the spill of 3,000 gallons of radioactive water at the Illinois utility's nuclear plant in Zion Wednesday was blamed on error. The officials said the water was released accidentally during test of an emergency spray system. Nobody was hurt; spill was contained within the plant. IDAHO POWER TO PAY FOR CLEANUP: Idaho Power Co. will pay for the removal and disposal of 8,000 cubic yards of PCB and lead contaminated soil from a salvage yard in Pocatello. Officials are trying to determine who's responsible for the cleanup of abandoned lead batteries at the site. SPECIAL PACKAGE ON ETHANOL: PETROCHEMS ENHANCER OF CHOICE: Rep. Jim Jontz, D-Ind., one of two corn-state representatives proposing to require oil companies to use ethanol as an octane enhancer, said Thursday that when the government forced lead out of gasoline, oil companies had the choice of using ethanol or petroleum-based chemicals to boost octane levels. Not surprisingly, he said, the petroleum companies chose to use the petrochemicals. MEASURE IS `PRO-ETHANOL': Rep. Tom Ewing, R-Ill., said the primary focus of the bill, which would be phased in from 1994 to 2006, is "to encourage America to become less dependent on foreign oil." However, "there's no question that it would be a pro-ethanol measure," he said, although oil companies could meet the requirement with methanol, made from wood products. POSSIBLE ENERGY BILL ADDITION: Jontz said oil companies would have to make some changes in refinery operations, but he didn't have any estimate on the cost. He said the bill as written, combined with the Clean Air Act, could hike the use of corn for ethanol from 390 million bushels a year now to as much as 3.8 billion bushels by 2006. Jontz said he will try to get the bill included as an amendment to the energy bill. (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