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Show Exxon ready ?o sfcairfl oil shale plciGiv in Colorado Washington C.C. Garvin, Jr., chairman of Exxon Corp., announced this past week it is ready to proceed with an oil shale plant in Western Colorado. In a meeting with the Securities Industry Association in Boca Raton, Fla.,onNov. 28, Garvin said the Texas-based Texas-based company is "close to saying yes" to building an oil shale plant in Colorado and a "semi-commercial" synthetic gas plant from low-grade coal deposits in Texas. Asked for further information about Garvin's speech, the Exxon Washington office referred inquiries to its Houston headquarters. Garvin is said to have said this country should embark on a $700 billion synthetic fuels program to end the country's dependence depen-dence on foreign oil. The United States now imports about half of its liquid fuels supply. Meanwhile, Sen. Malsolm Wallop, R-Wyo., R-Wyo., recently told the Senate it would be folly for the United States to launch a crash program for syn-fuels like that which it launched to get a nuclear energy industry going in the 1940's and 1950's. Citing a Washington Post editorial to that effect, Wallop said it would be unwise to launch a new syn-fuels syn-fuels industry "exempt from the usual checks of the political process and immune from the healthy rigors of economic competition." "We do not need an expensive government corporation cor-poration to stimulate this fledgling industry," Wallop said. The Senate recently approved a syn-fuels bill carrying a $20 billion price tag. |
