Page 6
THE BATTALION
FRIDAY, APRIL 25. 1900
Clements approves
stand taken by Reagan
L'nited Press International
AUSTIN — Gov. Bill Clements
applauded Ronald Reagan’s vow
Thursday to “get the government out
of the energy business, ” and said he
will end his neutrality in the GOP
presidential campaign the day after
the May 3 Texas showdown between
Reagan and George Bush.
Clements, who has been men
tioned as a potential running mate
should Reagan win the Republican
nomination, escorted the former
California governor through the
Texas Capitol, shared a private ham
burger lunch with him, and stood at
Reagan’s side during a news confer
ence in the Senate chamber.
“I have been saying for a year I am
neutral in the election process until
after our May 3 primary,” Clements
said in response to a question about
why he did not endorse Reagan.
“I suspect I will make an
announcement on May 4 as to who
I’m going to support.”
The governor indicated he will
back the winner of the Texas prim
ary. Reagan, who swept all of Texas’
delegates to the 1976 GOP conven
tion, is a solid favorite to win a major
ity of the delegates over Texan Bush.
Reagan danced around questions
about whether he is considering Cle
ments as a vice presidential choice,
saying he has not had time to consid
er that decision.
"I have the greatest admiration for
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Governor Clements and what he is
doing in this state is what I felt myself
in regard to getting government out
of people’s lives and reducing the
size of government,” Reagan said.
He said he had not discussed vice
presidential politics with Clements,
and told a reporter who asked what
they would discuss in their private
luncheon, "If I’ve got any smarts at
all. I’m probably going to ask the
governor what the problems of the
Republican candidate in the general
election in Texas are going to be. ”
Clements stood silently by
Reagan’s side during most of the
news conference, but muttered,
“Amen” and applauded when
Reagan suggested that government
should end its regulation of the oil
and gas industry and encourge ex
ploration for more petroleum re
serves.
Bullet train is big issue in
Railroad Commission race
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United Press International ^
AUSTIN — A proposed “bullet
train” Unking Houston, San Antonio
and Dallas-Fort Worth has become
the primary issue in a Democratic
primary race for a place on the Texas
Railroad Commission, which reg
ulates the state’s oil and gas indus
tries and determines what many Tex
ans pay for fuel.
Commissioner John Poemer, who
is seeking election to a full six-year
term on the three-member commis
sion, says the so-called “bullet
train,” similar to ones operating in
Japan, is the answer to the state’s
growing energy problem.
Poemer has promoted the concept
in campaign speeches throughout
the state, in talks with the state’s
congressional delegation in
Washington and in meetings with
the news media.
He contends the rail system could
use interstate highway rights of way,
would cost about $6 billion and could
eventually produce profits of $1.5
billion annually, while sharply re
ducing Texas’ reliance on petroleum
products for transportation.
“That’s about the craziest thing I
ever heard of,” says his opponent,
former Rep. Buddy Temple of
Diboll, who believes Poemer’s plan
would cost $20 billion and would be
the most useless project and biggest
waste of money in the history of this
country.
“It’s just a political gimmick,
something that sounds romantic but
is just crazy,” Temple said.
When the bullet train issue is put
aside, the differences between Tem
ple and Poerner diminish.
Each has accused the other of con
flicts of interest, with Poemer saying
the Temple family’s vast holdings in
East Texas would subject Temple to
repeated conflicts of interest in reg
ulating the oil, trucking and rail in-
dustries.
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Temple contends Poemer’s family
has oil holdings that amount to a cur
rent conflict of interest. Both men
deny they have, or would have, any
conflicts if elected to the commis
sion.
Both have been sharply critical of
Washington’s handling of the energy
shortage, and both advocate allowing
the oil industry to operate without
federal controls as a key step toward
meeting the nation’s energy needs.
Poerner served six years in the
state House of Representatives, was
an administrative assistant to former
Gov. Dolph Briscoe and then was
appointed by Briscoe to the commis
sion. In 1978, he won an election to
serve out the remainder of an unex
pired term and now faces Temple in
his bid for the Democratic norm,
tion to a lull six-year term.
Temple has served four terms u
the House and is the son of ArtL
Temple Jr., the vice chairman oftb
board of Time, Inc. He attempted
unsuccessfully to run for speaker a
the House, then decided to quit tb
Legislature to campaign for the Rai
road Commission.
The winner of the Temple.
Poerner race will face a Republic;
opponent in November. ^ |
Former GOP candidate for go,,
ernor, Henry Grover of Houston i
the favorite for the Republic*
nomination, although he is oppose
in the primarily by John Thomas
Henderson of Austin and E. W
Kidd, a Weatherford car dealer.
Shareholders
OK Shell split
United Press International
TULSA, Okla. — Shell Oil Co.
stockholders, responding to the
company’s previously announced 67
percent earnings increase, over
whelmingly approved a two-for-one
stock split Thursday at their annual
meeting.
Shell officials announced earlier
this week the company’s first quarter
profits soared 67 percent to $373 mil
lion.
During the meeting, Shell Presi
dent J. F. Bookout told stockholders,
“this is by far our best first quarter.”
Bookout said first quarter profits
improved because of the deregula
tion of oil prices and because SM
has been able to replace its resenes.
“Our highest priority continues to |
be finding and producing oil and gas
in this country,” Bookout said. !
adding that the recent acquisitonof
Belridge Oil Co. in California by a
Shell subsidiary would expand
Shell’s “domestic energy resource |
base.”
When Belridge resources are [
added to Shell subsidiary, Kemridge
Oil Co., Kernridge will have proven
reserves of 598 million barrels o(
crude oil and natural gas liquids and f
364 billion cubic feet of gas, Bookoni |
said.
New credit insurance rules
to be reviewed by June 15
. United Press International
AUSTIN -r-r The State Board of
Insurance staff said Thursday a final
draft of new rules to regulate credit
insurance will be ready for consider
ation by June 15.
The board is expected to act later
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tions reducing the amount of cob-I
mission insurance companies cal
pay auto dealers, retailers or (’
who act as agents in selling credit |
insurance.
Consumers buy credit insuranaj
to guarantee payment of debts ft|
installment purchases.
Texans paid more than $107 mil-1
lion for such insurance in 1978.
The three-man insurance bo
appointed an industry advisory cobI
mittee to help work out final la-1
guage for the regulations following! J
March 13 hearing.
Woody Pogue, board spokesman I
said the committee spent two days if |
intensive review with the staff.
“The committee will meetagainc|
May,” Pogue said. “And the!
should have a document to act on b|
the middle of June.”
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