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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (July 17, 1979)
Page 6 THE BATTALION TUESDAY, JULY 17, 1979 the state Windfall taxes Independents need protection: Bentsen United Press International WASHINGTON — Sen. Lloyd Bentsen, D-Texas, introduced legis lation Monday to exempt from the windfall profits tax the first 3,000 barrels of oil pumped each day within the United States by inde pendent producers. Bentsen is a member of the Se nate Finance Committee, which is considering the windfall profits tax. “According to the best estimates ^Peking Garden"' formerly the Fortune Cookies has their wonderful NOON BUFFET MON-FRI ALL YOU CAN EAT We Serve Peking, Szechwan and Cantonese dishes TAKE OUT ORDERS AVAILABLE OPEN 7 DAYS A WEEK 822-7661 1313 College Ave available,” Bentsen said, “the re cent oil price increase by OPEC will force inflation 2 percent higher in the United States next year and throw a million U.S. workers out of their jobs. “Our dependence on unreliable and increasingly costly foreign oil has doubled since the 1973 em bargo, while domestic production in the lower 48 states is in its ninth year of decline. “It would be a tragic miscalcula tion for Congress to take action that might add to this decline. We need to strive for and encourage more production, not less. We need greater energy independence, not more dependence,” Bentsen said. The number of independent oil producers, who drill almost 90 per cent of this country’s exploratory wells, he observed, has been halved — from 20,000 to 10,000 — since the mid-1950s. Unlike the major oil companies, which derive income from refining. Barcelona APARTMENTS NEWLY REMODELED ! ALL UTILITIES PAID and... Individual Heating and Air, Cable T.V., 3 Laundry Rooms, Swimming Pool, Security Guard, Party Room, and Close to Campus. 693-0261 700 Dominik, College Station > Texas Ave. A&M Coif Course c i o o BARCELONA * L- *WhaLaburp,er ^ HOUSTON ASTROS VS L.A. DODGERS Saturday July 28, 7:30 p.m. GIRLSTOWN U.S.A. NIGHT For tickets call: Becky Owens 845-5541 Mezzanine Section 215 $4.50 marketing, transportation and over seas operations, Bentsen said the independent producer has only one source of income, the sale of the oil and gas he produces. He cited a recent study by the Independent Petroleum Association of America that shows total well head receipts for independent pro ducers the past five years amounted to $3.3 billion. But he noted the same producers spent $34.9 bilion during that period on exploration and production. “The evidence is clear,” Bentsen said. “These independent producers are reinvesting everything they earn and then borrowing more money on top of that to explore for oil and gas. “I am deeply concerned that im posing the House version of the windfall profits tax on independent producers might discourage desper ately needed new exploration. So I am offering legislation to exempt from this tax the first 3,000 barrels a day that the independent pro duces,” he said. According to preliminary esti mates, he added, the proposal would exempt only 15 percent of the total oil subject to the tax in the House bill, but would exempt 99 percent of all producers from the paper work and red tape burden the windfall tax might generate. All proceeds go to Girlstown U.S.A. Chartered bus Available Sponsored by A.B.G.S. I* HATE DOING * fj LAUNDRY? £ ♦ ^ Let Frannie’s do it for you ^ Aunt Frannies ^ {j j Laundromat -k Holleman at Anderson 693-6587 —i ,★★★★★★★★★★★★★★★★★★ ^ lip! / : ■‘v ■: fig ' | FULTON reflections speech difff oi United Pres International ed that Texans, regard- affiliation, reacted to Carter's energy address .g to their own view of the f the crisis and the solution. rner, chairman of the Railroad Commission which :s the Texas petroleum industry, ; critical of Carter, charging that e president failed in his speech to even show that there is an energy shortage, and that cutting imports in half by 1980 was, therefore, “un- kable. ” thinl “It’s unthinkable,” he said Monday, "because the American people will not reduce their demand on hydrocarbon consumption until they believe there is a shortage. "I was very disappointed. I thought this was going to be the one last time when the president would come forth and lead the country, and he didn’t do it. He probably tve away the presidential office to e Republicans because of his ina bility to act.” Railroad Commissioner Mack Walace, however, disagreed. “He has stopped talking at the outset about conservation,” Wallace said. “He began to address the need to produce, and that is our essential problem.” Presidential candidate George Bush, reached in Houston, was moderate in his reaction. He said he thought Carter had some good pro posals, but questioned whether Car ter had the toughness to carry his proposals througn Congress. “In spite of the rhetoric last night, the only question Tve got is will he bite the bullet?” Bush said. “Will he be tough enough and strong enough in leading his own democratic con trolled Congress? It’s ^oing to take some political courage. ’ William Fisher, a UT professor and leader in developing the so- called “Texas position” on energy, said it would “take some pretty heroic measures” to cut imports in half by 1980. You don’t double coal production without lowering the na tion’s air quality standards.’’ Speaking on the political impact of the speech, Travis County Dem ocratic chairman Ken Wendler said: “It’s not a turn-around speech. I do think it will improve public opinion of him.” Gov. Bill Clements labeled Car ter’s speech political, and said he had hoped for specific proposals to solve the energy problem. “We are beyond the time for ser mons,” Clements said. “Words are not enough. What the American public wants is a plan of action. We want some specifics, something we can put out teeth into. Iw dent has all the authority ktj He doesn’t need another board, more red tape and reaucracy.” Clements said Carter’s p? to freeze oil imports at level has dire implications. “It would mean a cycle S owth, stagnation of the sver jobs and more infia A spokesman for Gulf 0|i Sirring a last Houston said Carter's limiti klks on the ported oil must be accompu | national gu increased U.S. productionp Kay, the agr such domestic economic pni Kd the civil However the company, in i | statement, was not totallyg NAGUA, I Anastasio ' leave Nica days,” sa: omplex, m tiations to e reign minis nations w raguan opf day in Can jffort to reai for an order anagua. Carter. “The president’s equal ec j on energy production andcoi tion is a move in the rig because in the past ournatn icy had emphasized conswj the company said. "We agree that syntheSt j must be developed as rap O j possible. It must be recognii /L/O I this will take many yeans mendous investment this time can he acceleraii JKARA, Tu the combination of public vale support. The near-ten solution continues to depeti increased development off jy 48-hour and gas.” United Prei handshake ties, four y rists peact Farmers demand apology from Brown for cracks ptian Embi n remaining In the end, ii ely of agents, on Organizati AGGIES! Douglas Jewelry United Press International AUSTIN — American Agricul ture Movement spokesmen said Monday Agriculture Commissioner Reagan Brown called farmers worse names than he did blacks and should issue specific apologies to both groups as well as a public explana tion. “I wouldn’t print any of the meet ing in a family newspaper,” said Craig Bryant of Egin, one of the ejgunmen Si offers Student ID Discounts! 15% off of $ 50 00 or more 10% off of under $ 50 00 CASH PURCHASE ONLY We reserve the right to regulate the use of this privilege. 212 N. MAIN 822-3119 DOWNTOWN BRYAN A Public Service of This Newspaper & The Advertising Council I i!! Lie down and be counted. President Jimmy Carter signed up 51 times In America, 3% of the people give 100% of all the blood that’s freely donated. Which means that if only 1 % more people—maybe you— became donors, it would add over thirty percent more blood to America’s voluntary blood stream. Think of it! But forget arithmetic. Just concentrate on one word. The word is Easy. Giving blood is easy. You hardly feel it (in fact, some peo ple say they feel better physi cally after a blood donation). And, of course, everybody feels better emotionally. Because it’s a great feeling knowing your one easy blood donation has helped up to five other people to live. So how about it, 1 % of America? Are you going to lie down and be counted? Call your local Red Cross Chapter, oryour community’s volunteer blood bank. We need you now. * Red Cross is counting on you. [hospitalized lie seige beg |.m. The four I a a yellow i blazing, cu femen guan ned the em to gain fi |m the emba jvoking a bloc ix hostages, ■assador Ah nine tanners who attendedi E re i ease( j UI ing in Brown’s office last which the agriculture used racial slurs against the president of the Teias Bureau T ve never seen any that. And I’ve been around tobacco chewing formers how they talked. The he used and the attitude with it wasn’t kosher." Bryant and the « American Agriculture tives who attended tl with Brown issued i Monday calling on him,to why he opposes creation ducers advisory board. “We cannot understand Brown opposes a commisi would have advisory capacity Bryant said. “We cannot why this would pressure and him.” Mention of the producen sory board, according to tl* ers, sparked an outburst by iree womer id Saturday d by dartir mtr< iylal in h United Pn SANBERRA iJ.S. space ftsured Austi they can 1 ylab junk, nc in which he referred to bH position to niggers" and called tWptate Depart ly scoffed Bureau president, 0 Chaloupka, a “god-damned mian Bryant said one of theAi Agriculture representatives tape recording of the meet the group decided against it for the present. “I don’t think it’d betoaW benefit at this time for it leased,” Bryant said. Now Better Than Ever. 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