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Show JULY 20, 1970 VOLUME 2f NUMBER 21 25 Cents Per Copy Coal executive urges U.S. energy policy WASHINGTON The and development implementation of a national energy policy is the only way that the United States can avoid a series of energy crises even more severe than that currently plaguing the nation, members of Congress from Virginia and West Virginia were told at a dinner meeting here. executive W.W.McQanahan, vice and chief president officer executive for the National Coal Policy Conference Inc., also said that in view of the massive reserves of fossil fuels , and particularly coal, in the there is no justification U.S., for the present crisis or for the clouded outlook for adequate supplies of electric power and other energy requirements. McQanahan spoke at the first of a series of dinners for legislators from of states. Representatives coal-produci- ng coal-produci- companies, railroads and the United Mine Workers of America also attended. The question is how we can best assure that the coal, oil, natural gas and uranium this nation possesses can best be put to use in meeting the burgeoning coal-carryi- ng ng demand for energy, declared. This McQanahan has believed long organization that an adequate supply of low-coenergy can best be achieved by developing and implementing a national energy policy. Pointing out that a growing number of government and energy officials, as well as members of Congress, are endorsing this view, he also said st . that the optimum production and utilization of indigenous been have fuel resources inhibited by a wide variety of Continued on Page 4 Bennett urges Interior to continue mineral research WASHINGTON Wallace UNITED PARK CITY MINES shareholders have approved two proposals which will mean major changes in the activities of the company. At a recent meeting the shareholders agreed to sell and lease the firm's recreational properties to Royal Street Development Co. of Newport Beach, Calif. Shown above are artist's renderings of a proposed condominium and mall proposed for Teasure Mountain Ski Resort The shareholders also gave the go ahead for Anaconda and American Smelting and Refining Co. to develop new mineral targets and overhaul the mine's transportation system. Anaconda and ASARCO hold 30.5 of United Park City's outstanding stock. F. Sen. Bennett, has urged the Department of Interior to strengthen rather than reduce or abolish Bureau of Mines research programs. Eliminating mineral research would li, have serious consequences for Utah and the nation he said. The Senators comments, in a letter to Interior Secretary Walter J. Iiickel, were in to reports that the is Department considering response elimination of most of its mineral research centers in its 1972 fiscal year budget, to achieve a budget cut of about $40 million. A report by the Committee Mineral Science and on Technology of the National Academy of Sciences has already warned that we are on a disaster Continued on Page 4 Utah hearing probes unified hydrocarbon lease proposals Legislation providing for a single lease for hydrocarbon extraction on Utahs federally owned lands was opened to subcommittee hearings at the Utah State Capitol last week. Sen. Frank E Moss, Minerals, Materials and D-Uta- subcommittee h, Fuels chairman, the hearing of alternative Senate bills designed to resolve a conflict which now exists between oil and gas, and sand bituminous sandstone) interests. Under present law, both interests may obtain leases on the same property, though they conducted are both interested in the eventual extraction of the same ns, usually crude oil and its extractions. Past laws made the distinction between companies interested in free flowing oil which ran naturally out of the bore to its product-hydrocarbo- underground depository, and those which use heat or pressure systems for recovery. the recent In years. these between distinction of recovery have systems become more and more clouded, since the recovery is often supplemented by heat and pressure systems to maximize free-flowi- ng extraction efficiency. The rise in this conflict cause to introduce legislation to create a single hydrocarbon lease law, which he originally introduced in January of 1969, and has reintroduced this year. Estimates by the Utah Geological Survey place Utahs in stored reserves oil rock between a conservative 20. 5 billion barrels and an optimistic 29.7 billion barrels. No attempt was made by the Survey to estimate what part of the total is recoverable, but of the 49 deposits it has located in Sen. Moss Utah, some 11 contain probably commercial reserves of oil. Max D. Eliason, vice president and legal counsel for Skyline Oil Company, urged in testimony that the legislation be adopted to free the oil interests to develop the yeat untapped reserve. Our country will no longer be the leader if we fall behind in the development of our energy production, Eliason Unless we develop the said. technology needed to recover this oil, in the future we are going to be beggjn it from other countries, and come under their control. Utah already has a state law, restricting hydrocarbon leases to a single party. The law grew out of an open conflict which developed immediately when interests producing oil from oil bumped into the bituminous sand people. The federal scene has been relatively free of conflict so far, according to several witnesses, because single leases have been sold on federal property. But there is nothing in the law which the would now prevent free-flowi- ng Continued on Page 5 |