OCR Text |
Show Page 2 Rocky Mtn. OIL & MINING JOURNAL Crestline buys air charter firm Published weekly in Salt .Lake City, Utah by Utah Scene Publishing Co., 4386W. 3780 South, Salt L ake City, Utah 84120. Mailing address: P.O. Box 10243, Salt Lake City; Utah 84119. Serving the mining and oU Industries of the Rocky Mountain Region. Articles and Information contained herein are true and factual to the best knowledge of the publisher. Information and opinions published are the sole responsibility of the publisher and do not reflect the attitudes or opinions of the merchants, brokers, corporations and service firms who advertise herein or otherwise sponsor this publication. 25$ August 18, 1969 OIL & MINING JOURNAL Crestline Uranium & Mining Co., the reactivated corporate shell whose register agent, S.L. Lake of Denver, battled and and regulations on the domestic industry and the way in which they add to the cost of domestic production. No one seems to recall that the oil industry was expected to shift . gears immediately and move from rigidly controlled production volumes to the vastly expanded volumes needed during the Middle East crisis and still maintain the cost of oil at or near levels. And the industry did far better than to barely cover the needs of this nation and many of our allies. Subscriptions $10 per year per copy Advertising rates: Display Advertising ..$2 col. inch $2 for 20 wds Classified Advertising won reinstatement after a series of Securities and Exchange Commission suspensions, has announced its first acquisition. pre-cris- Phone: 298 2403 or 298 3703 Editor & Publisher Circulation Manager... Chuck Hayward Enid J Hayward In too many of the governments moves against the oil industry the very valid reasons which led to current legislation have been kissed off as inefficient, Ineffective, or too costly, with no real effort to objectively analyze them. Were not saying were objective, but it is true that oil and gas supply 75 per cent of Americas energy and that the petroleum needs of this nation are increasing rapidly. We need to strengthen, not weaken, our petroleum industry. EDITORIAL From where we sit it appears that, in a near paroxysm of enthusiasm over tax reform and economy, the federal government has practically declared war on one of the most important segments of our econom- y- the minerals extraction industry. Specifically under fire at the present time is the petroleum industry where the depletion allowance has almost certainly been reduced from 27 per cent to 20 per cent and where oil import quotas will probably be revised and may even be ge m ................. 0 oo o report by newly-electe- d Frank M. Crestline president Williamson. Williamson is a veteran pilot and well experienced in the aviation business. Henry F. Maierhoffer, formerly secretary and treasurer of Trans Southern Corp., has been named secretary treasurer of Crestline. Vice president is Eva Williamson, wife of the president. Ronald Pierson, president of Pierson Metals Company, and Gary North, a Florida electrical contractor, are members of the board of directors. Williamson said Trans Southern will be operated as an independent company by its present management, as a leasing company of aircraft. The corporation has no plans at present to reenter the minerals extraction field. How would you like a dividend How about taxes? Does the oil depletion allowance really give the oil industry a tremendous break when it comes to paying Uncle Sugar? Well, in recent years the oil industry has paid a higher share of its gross revenue in direct taxes (federal, state and local) than the average for other industries. And this doesnt include taxes collected from consumers, which add up to a far bigger dollar amount than is generated by any other industry. check Each Month? For $3,000 or more, you can receive a check each month, in from amounts, varying investment account. your Your money will be spread over more than 250 selected American companies. Import controls do help keep our nation secure by supporting our domestic producers. Bring in an y of imported oil, and many of the small domestic wells would be forced to shut down. Soon (by early 70s according to the Department of the Interior) America would be depending on foreign sources for about half of its petroleum. In any emergency Americas security of supply would be at the mercy of other countries and then it would be too late to revive our domestic industry to barely cover our petroleum S. J. UNO INC. 150 S. 6th E., S.L.C., UTAH 84102 SUITE 10-- C . over-suppl- The report is another example of how easy it is to justify anything you really want to do. A close reading of the report fails to unearth any evidence of objectivity in the examination of oil extraction economics. There was no attempt to evaluate U.S. government controls . companies. Two of the planes are DC3s and the third is a Constellation, according to a analysis. McLaren claims the increased costs of the import quota system are not offset by the stated purpose of the controls-t- o prevent disruption of the domestic industry by protecting it from foreign oil. He cites the 1967 Middle East crisis and states that at that time, after eight years under the import program, the domestic industry was barely able to cover the nations expanded demand for oil during the comparatively short period oil from the Middle East was cut off. .....-..-.V- owner of three airplanes which are leased to commercial 9, report by Asst. Atty. Gen.' Richard W. McLaren says the mandatory oil import quota system stifles competition and costs the American consumer too much. The report says because of the quota system, initiated in 1959, crude oil from U.S. wells costs about $3.10 a barrel on the East Coast while oil from the Middle East can be purchased for about $1.75 per barrel at the same place, despite shipping costs. 45-pa- Corporation, the Southern Retail gasoline prices, before tax, are up only 12 per cent since 1957-5while the average price of all consumer goods is up 27 per cent. The reason gasoline prices look higher at the pump is because taxes have jumped 21 per cent. Nor are oil company profits so much better than other companies-oi-ls return on investment during the last ten years averaged 11.5 per cent while other manufacturing companies averaged 12.1 per cent. The tremendous costs of oil exploration and development and the gamble of oil production have rarely been given their fair day in court in governmental eliminated. A is Crestline has taken over Trans PHONE (801) 328-98- 91 m Please send me suggested monthly income program for a $1 investment. Name Address " needs. 'o V VAV oB00Boooooo0B0ooooooiooooooouiOiooooo'oo"oooooooo"ou'ouou"uu"uuu"u"uuuooo"o"oooooooo'o;o'ouoto"ooo W.W.W.V oo oooooo oouoo VAV iVrrrt i . . 0000 ooooo VVi 00 .. .0 ... .0 ... iVASViA'A'AVAVA 0.0 ... I.O... ,. I " 0 0 0 0 0 o I !'VKvv v.v. & v.v v.v. v.v. 0 0 v.v. ..v. 0 0 ss v.v v.v I 0 v.v, SiS m X v.v I 0 ::S wa v.vi geo update computerized prospecting by air 72 EAST FOURTH SOUTH SALT LAKE CITY, UTAH 84111 801-363-45- 93 - a subsidiary of omnico, inc. si |