Thursday, April 21, 1983/The Battalion/Page 7
prped
by Scott McCuiiar Gas p 0 ii cy Act criticized
eficitin I!
he said, 1
: followed l>
t in 1
i.theserieii
rious, and
:conomk i
wn
thecld
.1 percent growth
GNP reported
United Press International
WASHINGTON — The mar
ketplace is the best regulator of
natural gas prices, supply and
incentives for further produc
tion, Rep. Billy Tauzin, D-La.,
said Tuesday.
In a speech to the National
Energy Resources Organiza
tion, Tauzin, who is a member of
the House Fossil and Synthetic
Fuels Subcommittee reviewing
various natural gas proposals,
said the basic premise of the cur
rent Natural Gas Policy Act is
flawed because legislative incen
tives are unnecessary.
“Even when you get to the
point where we are today, with
an excess of supply, those incen
tives are still in place in the mar
ketplace,” he said.
the secret is OUT.
Rumours
^
n
3 S
urisDradffl» ASH1NGT oN — The gov
ined 3df& in.
United Press International
Wednesday the
ion’s gross national product
wata3.1 percent annual rate
January through March.
: abuseda [he economic expansion af-
Idrenwhoi
tal abuse kti
ntimidattdi
inflation, the best since the
quarter of 1981, was just
iinthe 3 percent to 5 percent
Ige necessary to reduce un-
iloyment, but it was weaker
most private analysts and
White House expected.
—fhe Commerce Department
aortanttki increase in the value of
videotapt' l na tjon’s goods and services
.•This;, | rthe
inflation adjustment
$11.3 billion in the first
Iter.
efore subtracting the effects
inflation, the GNP grew to
767 trillion, when figured
ually, the department said.
jThe report’s measure of in-
lion throughout the eco-
ly, dubbed the “implicit
:e deflator,” grew at a 5.8
:ent rate, the highest since
fourth quarter of 1981 and
above other government in-
on measures.
reliable i
: relying ot
hired soi
oat safeci
•rcoverol
led Holds
to make
I n the previous quarter, Octo
ber through December, the
GNP decreased at a 1.1 percent
annual rate and dropped 1.7
percent for all of 1982, the worst
performance since industry de
mobilized after World War II.
The improvement from the
fourth quarter of last year was
primarily because businesses
slowed their rate of inventory
clearance — selling goods with
out replacing the stock.
Another positive influence
was an increase in new housing
and consumer spending which,
unlike inventory changes, are
key factors in sustaining an eco
nomic recovery.
Export sales and government
purchases declined.
Earlier this year, on the basis
of only January and February
figures, the Commerce Depart
ment projected a GNP growth
rate of 4 percent for the first
quarter, and most leading pri
vate analysts forecast much the
same performance.
An alternative measure of in
flation contained in the report,
the fixed-weighted price index,
increased 3.2 percent in the first
quarter compared with 4.9 per
cent in the fourth quarter. It was
the least growth since the second
quarter of 1972, mostly reflect
ing the drop in oil prices, the
department said.
The GNP figure released
Wednesday will be revised next
month based on more compre
hensive data. All inflation ad
justed figures were expressed in
1972 dollars.
BOB BROWN
UNIVERSAL TRAVEL |
COMPLETE, DEPENDABLE DOMESTIC
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846-8718
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he had
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United Press International
■ ASHINGT ° N — Foreign
ot a nouse» ers j ncreaset i their control
r U.S. agricultural land last
he maid[ ir, with holdings of 13.5 mil-
acres in 49 states and two
Stories, the Agriculture De-
tment says.
purvey released Tuesday by
department’s Economic Re-
ch Service showed foreign
porations and individuals
ed more than 1 percent of
29 billion acres of agricul-
lland in the United States in
12.
Foreign ownership is up 1
lion acres over 1981 levels,
rding to the agency, which
piled its information using
|orts filed by landowners
ler the Agricultural Foreign
estment Disclosure Act of
percent of all the state’s agricul
tural land, was owned by foreign
businesses or individuals, the
agency said.
Its report attributed the high
figure to the large land holdings
of three timber companies. One
company has partial interests in
33 percent of the acreage; the
other two are U.S. companies
with partial foreign ownership,
the report said.
jple.
i said Tu<
11 tonsofi
dll be storfd
isreadvtosf ^out one-fifth of the fore-
' holdings were in Maine,
:re 2.7 million acres, or 14
hadhopei ^
fuel in‘"“
September,!
layed until 1
tory Cotf
a construe
ers
lass
nd culti
her im
:ar about
scandal in :
. “But p
Black Sos it
era.
you lea
r was I
icssmen
, “He wast (i
is in
jonalLeaf
jlerwasipp
andard Oil
itected then*
red the pla'
ia n emolort'
e separate;
f the early 1-
gated bas®
tledtosepat
ick fight f» r
as mirrored
’s climb thrtt
e s to become
iall player in 1
edges theclii
ledining eim
traditional :
had a prot*
[ents,” he»
Aside from Maine, the largest
foreign holdings are in Georgia
and Texas, which both show
foreign ownership of more than
900,000 acres, the report said.
In their own reports to the gov
ernment, foreign owners indi
cated forest land accounts for 55
percent of their holdings; crop
land, 13 percent, and pasture
and other acricultural land, 27
percent. The balance was either
used for other purposes or its
use was not reported.
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