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Show 41 M monday, 4 january 16, 1978, rK it) ir iv rX iiTTT t 1 tm 1 blasts Carter RftIOGA chief entire package just the way it was," Dibble said. I hate to be trite," the executive said, but I still say the free market is the best system. As prices go up, automatic priorities will provide incentives to bring in new ters recently to film a KSL spot on What's right with America," the president of the Rocky Mountain Oil and Gas Association was hard put to come up with any praise for the American President's plan to wage the moral equivalent of war. In fact, George Dibble was down right critical. Im the first to admit that direction is needed," he prefaced his remarks, but if were not careful "His voice trailed off as he w atched winter storm clouds brewing from the window of the Club.. President Carters energy program is nothing more than a tax program, Dibble said, It and a bad one at that. creates so much uncertainty, and when theres uncertainty, it's hard to get people to invest in anything let alone something as risky as oil and gas development." Troubling him most seemed to be Carter's crude oil equalization tax which would hike the price of old" oil to the world market price of $13 from its controlled price of $5.25 a barrel. But producers would not realize a single penny in higher revenues, said Dibble, In Salt Lake SR- - ts holography (jjnnUBg) fiiH HifS taial ilfn 3c Si fn Uni-veris- igr an. supplies." ty George Dibble since the tax is intended to be either refunded to consumers in the form of rebates or used to fund other goverment programs. The Social Security system has been mentioned by Administration officials as a possible recipient. - H V Dibble, a Husky Oil vice president, credits the Senate with at least recognizing the realities of life - even though it came under sharp attack by President Carter for delaying passage of his energy proIt is mostly Senate posal. disagreement that is stalling the bill's passage. The House swallowed Car 13 down deposit to hold House until Spring See this unique home at 1900 SOUTH STATE (IN THE PARKING LOT AT THE World Motor Hotel) PIONEER cedar homes. log pre-c- ut Model Open from 12 Noon to 6 p.m. Prices from $6,500 to $22,500 Phone: Boyd Clawson, 487,7801 Pioneer Pre-CCedar Log Homes 1900 So. State St., Salt Lake City, Utah 84115 ut (in the parking lot at the World Motor Hotel) Pointing to an overview of the U.S. energy program prepared by the American Petroleum Institute, Dibble said proved oil reserves in the lower 48" states have been 10 shrinking for the past Prud-ho- e years. Even when the Bay discovery on Alaskas North Slope is included, total U.S. proved reserves at the beginning of 1977 were almost back down to where they were before the Prudhoe Bay field was discovered. Equally disturbing to Dibble is Rep. Morris Udall's bill to force horizontal divestiture. H.R. 7816 is designed to exclude the eight largest oil companies from entering more than two fields of energy re- source development. The lead times and enormous captial requirements necessary in bringing on ncwr sources of energy are tremenNone but dous," he said. the largest companies are prepared to take the risks new energy development poses, he added. Does the RMOGA president think petroleum is a fuel of the past, that it will someday be replaced with the more exotic forms of shale oil, solar, geothermal and nuclear power? If every home and every commercial office in the U.S. were to become independent of petroleum tomorrow, we'd still have to import oil," he said. Were going to need oil for a long, long time." ONE CONVENIENT, PROFESSIONAL SOURCE FOR INSURANCE (OR ANY FORM OF RISK MANAGEMENT) All forms of Corporate Insurance1, including Professional Liability. e All forms of Croup Insurance. All forms of Personal Insurance. All major insurance sources are available Robert L. Sicholls Insurance to allow personaliza- tion of your particular insurance plan. Robert L. Nicholls and his associates are an independent insurance agency with 18 years experience in advising individuals, professionals. and corporations. 2030 Rum 4H00 South Salt Lake City, I tub H41I7 Telephone (HOI) 277-266- 1 |