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Show Crude reserves drop in Utah, survey shows Proved reserves of crude oil in Utah declined last year, Mr. Darwin Van De Graaff, Executive Execu-tive Director of the Utah Petroleum Association announced an-nounced Friday. Citing figures compiled by the American Petroleum Institute Insti-tute Van De Graaff said that Utah's proved reserves of crude oil amounted to 183,176,000 barrels as of December 31, 1976. This represents a decrease of 25,142,000 barrels compared to the previous year. Van De Graaff noted: "This is in keeping with the national trend, which marked the U. S. proved reserves decline from 32.7 billion barrels to 30.9 million between December 31, 1975 and December 31, 1976. "The general decline in proved reserves is most but you can kill the ones on your food by proper cooking and handling. You can keep them out of your lunches by following a few simple sanitation sanita-tion and personal hygiene techniques. aisturoing, van Lie uraarr said, ."but it does not mean the nation is about to run out of oil." He said the decline in reserves in an indication only that the easily discovered and recoverable oil and gas reserves reserv-es in the U. S. have been found and produced. "Considerable quantities remain to be found more than likely in inaccessible inaccess-ible places where production costs will be high." Van De Graaff said improved improv-ed prices had led to a corresponding increase in oil and gas exploration and production, but not enough new reserves have been found to offset the rate of decline. . "Further incentives are necessary to encourage producers pro-ducers to take the greater financial risks involved in drilling more wells and deeper wells in difficult terrains," he said. "Our national energy policy must insure an economic econom-ic climate which maximizes development of the natural resources available within our own borders." |