Legislation to kill the Synthetic Fuels Corp. has been approved by
the U.S. House Energy and Commerce Committee. The bill was
introduced by Congressman Mike Synar.
Elimination of the agency would reduce federal spending by some $6
billion, Synar says.
The bill would authorize $500 million to the Department of Energy
for continued synfuels work over several years. Synar told the
committee the bill is a "rare opportunity to keep a sound, reasonable
synthetic fuels program while saving taxpayers some $6 billion.
"There is no task before Congress of greater importance than
cutting this Nation's deficit by reducing federal spending. We can
take a major step toward that goal by eliminating this costly
unjustified and unnecessary federal agency."
The Synthetic Fuels Corp. was created in 1979 to support the
commercial development of synthetic fuels to reduce U.S. dependence
on foreign energy supplies.
Since then, oil prices have dropped substantially and a number of
companies involved in synfuels research have abandoned their plans.
In addition, the agency has been plagued by charges of
mismanagement, Synar says, as well as high salaries for officials,
excessive fringe benefits and excessive price supports for synthetic
fuels project sponsors.
The congressman points out that at one time the possibility
existed that one oil company could get up to $1 million a day in
federal price support.
The bill has been assigned to the House Banking Committee for
consideration. . .
- Crude oil was tested at nearly 5,000 barrels a day from an
exploratory well drilled by Union Texas Petroleum, of Houston, in the
Badin area of southeast Pakistan.
It is Union Texas' third oil and gas discovery in Pakistan this
The wells, Mazari No. 2, tested 45 degree API gravity crude at
4,980 barrels daily through a one-inch choke with 349
pounds-per-square-inch flowing tubing pressure.
The test was conducted from perforations between 3,888 feet and
3,918 feet. Additional perforations tested oil at rates of 600 and
3,200 barrels a day.
A confirmation well is planned to further develop the newly
Union Texas has a 30 percent interest in the discovery. The
remaining interest is held by Occidental Petroleum with a 30 percent
interest and the Oil and Gas Development Corp., the Pakistani
government-owned company, with a 40 percent interest.
Under a licensing agreement with the Pakistan government, the
Union Texas group explores for and develops oil and gas on 2.2
million acres in the Badin area. . .
- Former Tulsan Frank W. Vaughn has been named general manager
of the general products division of Facet Enterprises Inc., of
Vaughn has been an employee of Facet since 1979. He most recently
held the position of president and general manager of the Facet
Aerospace Products Co., Jackson, Tenn. He also served as vice
president and general manager of the Facet Automotive Filter Co., of
Tulsa. . .
- Ward Petroleum Corp., of Enid, has made several personnel
Larry W. Jenkins, has joined the firm as a landman. He will work
in western Oklahoma.
His previous experience includes positions as district land
manager for Hunt Energy Corp. …