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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (March 21, 1991)
S2L World & Nation 11 Thursday, March 21,1991 "yk\ The Battalion Chairman lobbies Congress Krueger seeks oil import fee )n 3th )nin start a th with leave tad ut :sto about ny whicli ttact tid. great emost ers nd when he's hat id.1 lon't to ation do. WASHINGTON (AP) — The chairman of the Texas Railroad Commission is lobbying influen tial members of Congress to pass an oil import fee, claiming a floor under domestic crude prices is the only way to ensure adequate supplies and moderate the mar ket. Although Robert Krueger is trying to do what the Texas con gressional delegation never could, he says the aftermath of the Persian Gulf War may be just the time to strike. Krueger, a former congress man who heads the agency that regulates oil and gas in Texas, said the war has focused atten tion on the country's depen dence on imported oil and the fact that mucn of it comes from such a volatile region of the world. "Bubble, bubble, toil and trou ble. Fire bum and cauldron bub ble. Right now the cauldron is going in the Middle East and we've got 591 wells burning in Kuwait, which makes people more aware of the cost of our lack of policy," Krueger said . _ gei Wednesday before testifying on Capitol Hill. In testi mony last month before a House com mittee, and again before a Senate panel Wednesday, Krueger called oil "the umbilical cord that feeds the world's in dustrialized nations." "If oil worth is Sen. Paul Simon, D-lll., has heard Robert Krueger’s plan of an oil import fee, which Krueger said will ensure an adequate supply of oil and a stable market. Krueger is scheduled to meet with House Majority Leader Richard Gephardt, D-Mo., today, for in the Middle East, it's worth drilling for in America," he told the House Energy and Com merce subcommittee on energy and power. On Wednesday, Krueger told the Senate Committee on Energy and Natural Resources that there can be no national energy strat egy without adequate supplies of oil at stable, moderate prices. "And we can only assure such availability if a significant part of those supplies comes from American soil rather than the sands of the Sa hara. To gain such supplies, we must have a floor price for domestic oil of about $20 a bar rel," the New Braunfels Demo crat said in a statement to the committee. Krueger said the floor price would be achieved most easily through a variable oil import fee that would take effect any time the world price for oil dropped be low $20. By taxing foreign oil to that value, the domestic price rises accordingly. That, in turn, would stimulate domestic exploration and pro duction, because drillers — and their bankers — could be sure of a return on their investment, Senate approves $30 billion for bailout of S&L depositors J WASHINGTON (AP) — The Senate took less than one minute Tuesday to approve a compro mise bill pumping an additional $30 billion in tax- S er money into the bailout of depositors in id savings and loan associations. The measure was adopted on a voice vote, shortly after Senate-House negotiators worked out the compromise in less than 15 minutes. The House is expected to give the measure final congressional approval later this week. President Bush is expected to sign it. The bills passed “earlier by the House and the Senate each provided the $30 billion. They dif fered only on a few, comparatively minor details. But members of the negotiating committees were no more enamored of the legislation than they and other lawmakers were when the bills originally passed the House and Senate. Members of Congress are wary that the public perceives the bailout as just another Washington scandal. "We have no choice," said Rep. Chalmers Wy lie of Ohio, the senior Republican on the House Banking Committee. "We must provide the nec essary resources to cover the insured deposits of taxpayers and to maintain consumer confidence in our banking system." Rep. Barney Frank, D-Mass., pronounced him self ready to vote for the final bill "only if we get an agreement we won't have to go to a public signing ceremony." Act bans some Gulf War souvenirs DAMMAM, Saudi Arabia (AP) - Soldiers returning from the Gulf War are bringing home Iraqi bayonets and Saudi Ara bian prayer rugs but their com mander faced possible red tape with his bottle of Kuwaiti sand. The Federal Plant Test Act rohibits the introduction into e United States of sand, soil, vegetation and animal products" without a permit, U.S. Central Command spokeswoman Lt. I Col. Virginia Pribyla said Wednesday. Gen. H. Norman Schwarzkopf scooped the sand off a Kuwait City beach last week and told re porters it would be among his most treasured possessions. It seems he'll be able to take it home after all. "The Department of Agricul ture has offered to inspect Gen eral Schwarzkopf's sand and process it if necessary," Pribyla said. Schwarzkopf's booty seems modest when measured against the trove of Iraqi gear other sol diers are taking home. Staff Sgt. George Chappell, 39, of Hinesville, Ga., showed off his collection: a complete uni form, a helmet, two gas masks, a Republican Guard beret and two whistles. 8 From wire reports Kuwait’s Cabinet resigns, rebuilds _ UNITED NATIONS - Kuwait’s abinet resigned Tuesday in a move intended to bring in new of ficials as the nation rebuilds from nearly seven months of Iraqi oc cupation, the emirate’s U.N. am bassador said. Ambassador Mo hammad Abulhasan said the prime minister submitted the res ignations, which were immedi ately accepted by the emir, Sheik Jaber al-Ahmed al-Sabah. Abul hasan said the new Cabinet should be named in about a week. Bush warns Iraq of hard-line stand □ WASHINGTON - President Bush warned Iraq on Wednesday the United States will continue to shoot down its warplanes if any more take off, underscoring the hard-line stand the administra tion has adopted in the absence of a formal cease-fire in the Per sian Gulf War. Sony Corp. signs contract with singer □ NEW YORK - Sony Corp. demonstrated its awesome power in the entertainment in dustry Wednesday by announc ing a long-term contract with pop superstar Michael Jackson, that could be worth more than $1 bil lion in sales. THURSDAY 7:00 p.m. 9:30 p.m. Werewolf In London Rudder Theater $2.00 ”A knock-your-socks off, fantastically frightening and lusciously gory monster movie! LIFE MAGAZINE AN AMERICAN WEREWOLF IN LONDON •' I U A NTMROI'MIEMS LIMITKO r in W«.HTO\.j»i 1.4. JOHN UtXMA JTq<m0or?ULIl A WONDROUS ANIMATION SPECTACLE ABLAZE WITH ADVENTURE WALT DISNJEYS Sleeping BeauTh RIDAY 7:00 p.m. Rudder Theater $2.00 SATURDAY 7:00 p.m. Greysfoke: The 9:30 p.m. 20,000 Leagues Under the Sea $2.00 12:00 a.m. War of the Worlds $1.50 GREYSTOKE THE LEGEND OF TARZAN Lord of the apes & LADIES AND LORDS <3 AT TEXAS 807 where A Wedding Party Renting 6 or more Tuxedos receive a $10 Discount on each Tuxedo ensemble and...the Grooms FREE 807 Texas Ave. 764'8289 Call for details Krueger said. Krueger said the mounting na tional deficit, along with the ris ing costs of the savings and loan bailout and the costs of the war, may also make an oil import fee more appealing now than be fore. Krueger said he has taken his case to Rep. John Dingell, D- Mich., the chairman of the House Energy and Commerce Committee, and Illinois Demo crats Sen. Paul Simon and Rep. Phil Sharp. He was scheduled to meet today with House Majority Leader Richard Gephardt, D- Mo. A Dingell spokesman said the congressman believes a funda mental issue of the national en ergy strategy, which has been proposed by President Bush, is cheap, imported oil. $ NEED A LOAN f $ TO STUDY ABROAD? $ , $ NEED HELP WITH THE $ <£ LOAN PROCESS? <c (£ <£(£<£ (t> (£ <1? EXPLORE THE POSSIBILITIES OF FINANCIAL AID FOR STUDY ABROAD Informational meeting Thursday, March 21 2:00 - 3:00 p.m. Room 410 Rudder A Financial Aid Counselor will be on hand to answer your questions about financial aid for Study Abroad. % TiaCM UN (409)764-0466 "Everyone knows the importance of getting good value, but not everyone knows the importance of comparing the difference to get good value." - - Chinese Proverb COROLLARY: When in doubt about which Chinese restaurant in B/CS is the best taste the difference.lhose who taste the difference will surely get good value. FOLLOW THE ANCIENT WISDOM, TASTE THE DIFFERENCE AT IMPERIAL Where quality authentic Chinese food is served at affordable prices. In addition to lunches on weekdays, the well liked IMPERIAL Buffet is now available in the evening from 5:30 p.m. to 9:00 p.m. on Monday, Tuesday and Wednesday for $5.55 per person. TRY IMPERIAL, YOG WILL KNOW THE DIFFERENCE! Special Combination Dinner University 3:00 p.m. - 10:00 p.m. Choice of Egg Drop Soup or | 1 Hot and Sour H Harvey Soup Egg Roll or Crab Puff Steamed or Fried Rice ■ 1. Sweet & Sour Pork 3.95 6. Chicken w/Cashews 3.95 2. Sweet & Sour Chicken 3.95 7. Chicken w/Broccoli 3.95 3. Sweet & Sour Shrimp 4.55 8. Shrimp w/Cashews 4.55 4. Pepper Steak 4.25 9. Hunnan Chicken 3.95 5. Twice Cooked Pork 3.95 10. Beef w/Broccoli 4.25 FRIDAY & SATURDAY Midnight THE GROVE (No Rice—Birdseed Only) hero/, m gi . m