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 Tue, Jun 2 1992 Date: Tue, 2 Jun 92 05:20:35 EDT Message-ID: 06-02 0000 DECISIONLINE: Energy USA TODAY Update June 2, 1992 Source: USA TODAY:Gannett National Information Network REPORT LISTS WAYS TO SAVE: The Department of Energy could save up to $124 million over the next five years by changing how it disposes of low-level nuclear waste at its Fernald facility, a new government report says. The report is the result of an audit by the inspector general's office of the Department of Energy and has broader savings implications for the entire federal nuclear cleanup effort. (For more, see special Report package below.) PRICE DECLINE AIDS DEFICIT: A big decline in oil prices helped shrink the USA's merchandise trade deficit 5.8% in the first quarter, the Commerce Department said Monday. The trade deficit fell to $17.5 billion from $18.5 billion in the fourth quarter of 1991. Exports totaled $107.83 billion in the quarter, while imports fell 0.9% to $125.29 billion. America's foreign oil bill fell 15% in the first quarter. ROCKY FLATS FINE UPHELD: A Denver federal judge Monday upheld an $18.5 million fine against Rockwell International Corp. for violating environmental laws at the Rocky Flats nuclear weapons plant near Denver. Activists criticized the plea pact for not naming the public officials responsible. OIL PRICES DIP: Crude oil prices fell back Monday after last week's rally that saw oil futures reach their highest close of the year Friday. Light, sweet crude oil for delivery in July settled 8 cents lower at $22.03 a barrel at the New York Mercantile Exchange. Heating oil for July delivery was .06 cent lower at 60.25 cents a gallon. July natural gas was 3.5 cents higher at $1.660 per 1,000 cubic feet. OXY PET AWARDED BLOCK IN RUSSIA: Occidental Petroleum Corp. said Monday that its subsidiary, Occidental of the Republic of Komi Inc., has been awarded a contract to explore the 1.5 million acre Block 15 in the Timan Pechora petroleum basin in the Republic of Komi, Russia. Occidental has set up a joint venture company, Parmaneft, with Ukhtaneftegasgeologica (UNGG), one of Komi's petroleum enterprises. OCCIDENTAL TO BEAR 100% OF COST: Parmaneft, a joint venture company established by Occidental Petroleum and Ukhtaneftegasgeologica, will own the rights to Block 15 in the Republic of Komi, Russia. The joint venture contract has a five-year exploration term and a 25-year exploitation period. Occidental will pay 100% of the exploration costs and has the option to discontinue exploration at the end of each contract year. UNOCAL CAN'T JUSTIFY COST: Unocal Corp. said Monday it will not invest in the additional refining equipment needed to manufacture low aromatic diesel fuel for the California market. Low aromatic diesel fuel will be required by the California Air Resources Board beginning in October 1993. "Unocal cannot economically justify the investment required in new facilities ...," said Chairman Richard J. Stegemeier. WORD ON CONSORTIUM EXPECTED: The Big Three U.S. automakers are joining forces to tackle the problem of auto emissions. GM, Ford and Chrysler are expected to announce their ninth technology sharing consortium next week. The newest joint research effort is expected to be aimed at finding ways the carmakers can meet strict California clean air standards that take effect the next few years. SHELL GAME PLAYED: An airport service station owner in Lantana, Fla., had rare gopher tortoises brought in to halt plans for a competing station, the competitor charged Monday in a Palm Beach County lawsuit. Owen Gassaway denied the accusation from Roger Lambert. Jim Webb of The Wilderness Society it's the first time he's heard an accusation that someone "salted an area with an endangered species." SPECIAL PACKAGE ON REPORT: WATKIN'S ACKNOWLEDGES FINDINGS: By using less-costly containers, shipping by rail rather than truck and by burying radioactive waste in bulk at cost-effective commercial sites, Fernald could save a substantial sum of money, a report concludes. In a letter that precedes the 25-page study, Energy Secretary James Watkins acknowledges the findings and says his office is taking steps to implement the recommendations. PAST METHODS NOT COST-EFFECTIVE: Fred Lash, a spokesman for the Energy Department, had no immediate information about the changes at Fernald. Bob Tiller, the Energy Department's Fernald field office manager, said he couldn't comment on the report because he hadn't seen it yet. "We found that DOE contractors were not using cost-effective methods for disposing of low-level waste," the report concludes. RAIL SPUR WOULD BE NECESSARY: Among the report's findings: Cost for packaging waste in metal boxes - as Fernald does - is $8.92 per cubic foot vs. $1.60 for wooden crates; cost for shipping by truck is $8.43 per cubic foot vs. $5.31 by rail. A $40 million rail spur would have to be built at the federal disposal site outside Las Vegas, Nev., to make rail shipments feasible. CLEANUP TO COST MORE THAN $10B: According to federal estimates, there is enough radioactive waste at Fernald to fill a building the size of a football field and 16 stories high. And cleanup at the former uranium plant could cost more than $10 billion over the next 20 to 30 years. The DOE currently is evaluating bids for a five-year cleanup contract worth $3 billion to $5 billion. (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