Show Oil Shale Poli Policy y Change Looked to to With Int Interest rest A change in federal oil shale policy is reportedly under consideration by the theU U U. S 5 Department of the Interior Usually reliable Washington sources indicate a proposal hasn't t yet reached Secretary of Interior Walter Hickel but an important announcement is predicted pre pro dieted within a few weeks INDICATION THAT something is is inthe in inthe inthe the works came Tuesday when Reps John S S. S Wold R R Wyo and Sherman P P. P Lloyd U R Utah held a 1 joint press conference conference con con- ference ferenee to discuss new new Initiatives which we hope will be taken by t th the A Department Department Depart Depart- ment of Interior with respect t to oil shale research and An estimated two barrels of oil is contained in shale deposits in a triangle encompassing g part part of Utah Colorado and Wyoming Utah has the largest percentage of shale under understate understate understate state lands ABOUT acres of state land is under lease at 50 cents an acre which doubles' doubles to 1 after 10 years yea says Charles R R. R Hansen director State Division of Lands While the state now receives only 75 a year in revenue royalties from potential development could fund our school system Mr Sir Hansen says About half the state land is leased by Western Oil Shale Corp Two thirds of the state sate acreage Is held by Western Shell Oil Company Pan American Oil and Atlantic Richfield Atlantic Richfield Oil Mr Hansen said r WHEN FORMER Interior Secretary Stewart Udall called for bids on on federal federal federal fed fed- eral lands in Colorado only one company company com com- pany submitted an offer It is expected that a future bid offering might include Utah and Wyoming federal lands as aswell well Anything the federal government does to stimulate oil shale production is going to benefit Utah Says Howard petroleum geologist Utah Geological Geological Geo Geo- logical Survey Reps eps Weld Wold Wold and Lloyd wrote earlier to mor more mord than energy companies to obtain a sampling of their interest in oil shale development About 75 companies com com- panics said they were interested in any feasible offer which would encourage research and development in extracting oil from shale THE CONGRESSMEN in turn have informed Secretary Hickel of their concern concern con con concern cern that a policy be adopted which does in fact encourage proper development development development develop develop- ment of our oil shale resources within central guidelines of national welfare and security The The Ixon Administration ha has an op op- to sweep sweep away the web of emotionalism I and fear that tha t has pervaded per pert the Is issue ue and look anew at the bright aspects for development of a avery avery avery very important new energy source Mr Wold and Mr Lloyd said Previous administrations administrations I have been intimidated by claims that another Teapot Teapot Tea Tea- pot POle Dome scandal is inherent in any loosening of the tight vise placed around development of oil shale Mr Lloyd said MR HANSEN said state royalties from state oil lands start at five percent percept per cent and are graduated to per cent Normally royalty payments open at 12 per cent but we figure the first few years will take a lot of capitol capitol cap- cap capitol itol investment to develop shale land Mr Hansen said lie He said Utah officials have conferred with federal government on two matters matters matters mat mat- The The state be allowed to select some of its unfilled land rights in the 01 oil shale area to provide larger land packages pack pack- ages TO TO COMBINE about acres of state lands with acres of conof conof con con- of the Uintah Basin als also to provide a large land package which might encourage encourage encourage en en- courage oil shale development In Utah the majority of of the m most most- st st. desirable oil deposits are 2000 feet under the surface This may require the use of nuclear explosives explosives' to stimulate oil extraction from underground formations The state is attempting to conduct such an experimental project in the Uintah Basin Ba Ba- sin Sill using the services of clear Las V Vegas g |