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Show Paie January 12, 1970 OIL & MINING JOURNAL 2 Alaska oil mecca of 70s? EDITORIAL Columnist Paul Manning notes that it's too bad William Jennings Brvan isn't around these days, because he might feel vindicated tor his attitude on silver. The man who wrote xhe tree silver plank in the 1896 Democratic ' platform and delivered probably the most famous oration ever made before an American political convention ending with. "You shall not crucify manking upon a cross of gold", always1 knew silver would take its rightful place alongside gold, and now lie's right. expenditures. HOUSTON.TEX - Will the Arctic Slope region of Alaska become the petroleum industrys Libya of the 1970? Libyan oil developments were spectacular in the 1960s. Similar Arctic Slope trends could develop n the 1970s. Oil production was something new for Libya in 1960 but by the end of 1964 the industry had developed proved crude reserves estimated at 9 billion barrels and had boosted daily production flow to nearly 900,000 barrels. Passage of Colorado Sen. Peter Dominicks amendment for a silver Eisenhower dollar would just about eliminate the countrv's silver reserves if 300 million Eisenhower dollars were minted, as is proposed. There is even some doubt that enough silver would be available for 300 million silver, dollars, for the sell-orate of silver by the U.S. Treasury at auction in Washington (through General Services Administration scaled bids) is running at 1.5 million ounces each week to industrial and private buyers. oil is will force the industry to invest shore of the practically on the ,jiijons Qf dollars Mediterranean Sea. The Arctic facilities to . remoteness anflj transportation Q nps in 1 iTSte Joawsgl) I Published weekly in Salt Lake City, Utah by Utah Scene Publishing Co., 4386 W. 3780 South, Granger, Utah 84120. Mailing address: P.O. Box 19243. Salt Lake City, Utah 841 19. Developments the last five years of the decade were even more spectacular Libya moves into the new decade with proved reserves in excess of 35 billion barrels and daily production well above 3 million barrels. Libya now has produced nearly 4 billion barrels of crude since the first commercially significant discoveries were made Silver is in real demand, Mr. Manning notes, and the U.S. government has less than 90 million ounces of silver on hand. This fact is holding up the minting of the which approves a Eisenhower silver dollar as the Senate which wants to mint and the House 40 silver dollar debate the issue. a cupro dollar, with no silver content Libyas Serving the mining and oil 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. Subscriptions $1 0 per year 25 Cents a copy , t Advertising rates: Display Advertising Classified Advertising $2 col. inch for 20 words .$2 in 1959. Libya reserves are exceeded only by those of Saudi Arabia, Kuwait, Iran, the United States, the Communist bloc, Venezuela and Iran. At the end of 1969, Alaskas Arctic Slope region was in a position similar to that of Libya ff The indecisiveness of Congressional action has also produced jitters in the New York Commodity Exchange where the price of silver has been fluctuating over each new report on the status of the Eisenhower dollar. Silver speculators, who buy the normal 10,000 ounce ilvcr where you pay the current price and accept contracts delivery later hoping the price will be higher on would like to see the 40 per cent silver content delivery dollar minted, Mr. Manning notes, since it would intensify the market shortage and might produce windfall profits. at Phone: 298-240- 3 Editor & Publisher. Assistant to Publisher Director of Advertising. or 298-370- 3 Chuck Hayward -- Enid J. Hayviard Hal Funk the end of 1959. Developments were moving at a rather slow pace but impressive discoveries indicated a bright future. Development costs in Alaska, however, will dwarf the Libyan- - Y OUR Classified in the BETTER SERVICE BETTER SERV Others who deal in silver as a matter of course want a stable market. Silver is in short enough supply now without an Eisenhower dollar creating unnatural new shortages, they say. The only way the suspense on the commodity exchange can be ended is for Congress to settle on what kind of dollar will commemorate the memory of Gen. Eisenhower and sent it on to the White House for the Presidents signature. William Jennings Bryan, who spoke so eloquently for silver, did so in a day when production exceeded demand. He was once told by an obscure Rochester, N.Y., bank clerk who heard him speak, that photography would one day use nearly all the silver America could produce, and free coinage of silver at fixed rates with gold would not be necessary. JteCjpCBgfl BETTER SER Reaches Readers BETTER SE looking for business & investment opportunities, stocks, properties, new & used equipment for sale or lease, employment BETTER S BETTER & For os little cis $2 for 20 words & 10 for each addi- tional word you can tell your story. Deadline: nesday preceding' the Monday publication dote. & COMPANY FILL Offering Service George Eastman, the bank clerk, turned out to be right. For he went on to invent the box camera and, in association with a buggy whip manufacturer, formed a corporation whose eventual use of silver nitrate in Film processing made the dream of The Great Commoner come true. Mr. Manning notes. other services. IN WORDS Wed- - CLIP & MAIL i I i in the 0TC market Stocks & Mutual Funds 210 Kearns Bid; SLC, Utah 521-35- 62 And Complete Facilities in Ogden 2476 Washington Blvd. 399-556- 6 1 j SILVER MINING STOCKS 1 1 have profit potential I I I I I 1 I 1 I 1 I N RANGE 4c TO S40 PER SHARE W specialise in silver, gold and uranium stocks and selective 'penny mining stocks. We accept collect calls on buy orders. J. H. DILLON W. 412 Sprague, Spokane, Wash. & CO. 992bl, Tel. S3t-44- 3 Member Spokane Stock Exchange I I I I 1 I I I I mil INTERPHASE Registrar & Transfer Mail to: Rocky Mtn. Oil & Mining Journal P. 0. Box 19243 Salt lake City, Utah 84119 The Professional Stqck Transfer Company Salt Lake City PAYMENT WITH ORDER PLEASE 322-169- 6 M |