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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Nov. 13, 1980)
Page 10 THE BATTALION THURSDAY, NOVEMBER 13, 1980 State off any size Chanello’s SUPREME PIZZA & SUBS NOT VALID DURING ANY OTHER SPECIAL OFFER FREE DELIVERY 846-7751 Open M-F 4 pm S-SU 11 am expires 12/31/80 off any 14", 17", or 20" pizza one item or more PIZZA * SUBS NOT VAUD DURING ANY OTHER SPECIAL OFFER FREE DELIVERY 846-7751 Open M-F 4 pm S-SU 11 am expires 12/31/80 off any 20 inch one item or more Texas launches last effort 4 for licensing of superport ^ NOT VAUD DURING ANY OTHER SPECIAL OFFER FREE DELIVERY 846-7751 Open M-F 4 pm S-SU 11 am expires 12/31/80 50<: off any sandwich FREE DELIVERY 846-7751 PIZZA * SUBS NOT VAUD DURING ANY OTHER SPECIAL OFFER Open M-F 4 pm S-SU 11 am expires 12/31/80 GIBSON’S 1 I LONE STAR LONGNECKS 5" a case plus deposit SALE ENDS SAT. 1620 Texas Ave. 693-3716 Mon.-Sat. 9-9 Sun. 10-6 RED, WHITE & BLUE BEER 2 69 12 pac United Press International HOUSTON — The Texas Deepwater Port Authority gave final approval Wednesday to the latest hope for a Texas offshore superport — an appeal for federal licens ing to build a smaller port than originally planned. Chairman Bob Casey said TDPA is dead unless Trans portation Secretary Neil Goldschmidt quickly approves a smaller terminal or extends the Saturday deadline for TDPA to accept the federal license for the larger ter minal. “We’re out of money and I’m not going back to the Legislature again,” Casey said. The board, which has operated on temporary state funding, authorized Casey to fly to Washington to try to convince Goldschmidt today to approve a license amendment without full-scale hearings. “I’m gonna do the best sales job I can, ” the former congressman said. “We think it’s needed down here.” Goldschmidt’s staff already has received TDPA’s plan to start with a 500,000-barrel-a-day oil unloading buoy 11 miles off Freeport rather than trying to build the entire 2.5 million-barrel-a-day facility planned 26 miles offshore. The small terminal, billed as a first stage to be ex panded later, would depend on supertankers’ pumps to force their oil through a 52-inch undersea pipeline to onshore storage-distribution facilities. Casey said bond experts have told TDPA it can sell general revenue bonds — not backed by state money or oil company use commitments — to finance the $425 million first stage cost. The original plan required oil companies to back the bonds by promising to use the project, but TDPA offi cials said because of changing world and political condi tions they could not obtain enough commitments. TDPA’s concern is that some members of Gold schmidt’s staff may want a complete new license pro ceeding with new environmental and economic impact investigations. Casey said new license hearings would take, time than TDPA has. It has spent $830,000,1. $900,000 the Legislature gave it, closed its ^ Houston and cut its paid staff to one secretary. The Department ofTransportationofferedtli al license in 1979, setting a May 15, 1980, dear TDPA to accept it. DOT has extended thatdei Saturday. Casey said bonds could be sold in January, cJ, tion could start in June and the terminal coeidlw ing supertankers too large for onshore ports by thl He said that if business develops as expected IJ could later build up to the larger facility by efc the buoy-to-shore undersea pipeline and moving er out to sea. Many environmentalists support the superportu, risky to the environment than the entry of tant onshore ports or the current ship-to-ship, hjjl transfer of 2 million barrels daily in waters nearl Critics suggest declining oil imports make j,J expensive project unnecessary. 'You say it’s gonna continue to decline, butit's reach a point where it's not gonna decline," Cise^ “I don’t know (where that point is). I justknowwe self-sufficient.” A similar facility is more than half finished r.| Grand Isle, La., and Casey has warned that wit similar facility Texas stands to lose oil-dependents try to Louisiana. The Texas project has been near death form* TPDA was created by the Texas Legislature in ir take over an effort begun in the early 1970s but abandoned by a private consortium called Seadocl,] If TDPA fails, Texas might eventually have a port through other private efforts, but Casey sati does not want to wait. Louisiana already claims IS lion in added investment from its project, be saii': Gas use may be threatened PEPSI 6 pac 32 oz. I 59 plus deposit United Press International HOUSTON — A spokesman for gas distributors warned utility reg ulators Wednesday that declining gas company profit rates threaten America’s ability to use one of its fuels. “The money supply essential to bring more gas to the nation’s burner tips is the real key to the future flow of gas,” American Gas Association Chairman Robert H. Willis told the 92nd Annual Convention of the Na tional Association of Regulatory Util ity Commissioners (NARUC). “It is today an undermining force that, without attention, can break off and inhibit the release of new gas sup plies.” Willis said gas producers are pro fiting from gradual federal deregula tion, but gas distributors who must market that gas are not in the same situation. He told the regulators that his per sonal survey showed the average gas company profit rate is about 5 per cent of revenues. Willis said the average gas utility currently returns an average 11.7 percent on common stock, short of the 16 percent he said is necessary to attract investors. He said continued low profits, low return on stock and inability to mar ket bonds will force private com panies to spend equity to postpone extinction. Aggi (80)1 The I Aggi Willis said the gas industrym v j]] e to spend $400 billion betwetil ■ and the year 2000 to deliver M American consumers. He figure was ‘‘well over six times sent industry capital investusBr "Much of the cash mustberaB^ r by distribution companies. ' iL^jj consistently face large capitals a y ^ for system support evenexdw the required new supply andstr »s yy e( j s programs, ” Willis sakf I ma lh 0 u He said regulatory officialss* p m . p help educate the public that gas: ^L nnis , ties “put the last marbleiig T h ur! already bulging sack” of retsi a y. 6{ prices inflated largely by soaifyB ducer prices. »*** * * it it it Jho 1 it 8:0< * * ♦ 'k'kiri (K