Governors Endorse National Energy Policy, Says Bellmon / State Tops Region in Japanese Plant Locations

By Dam, George Van | THE JOURNAL RECORD, September 23, 1988 | Go to article overview

Governors Endorse National Energy Policy, Says Bellmon / State Tops Region in Japanese Plant Locations


Dam, George Van, THE JOURNAL RECORD


Governors of 22 states have agreed on a comprehensive national energy plan that calls for tax incentives for new oil and gas exploration, Gov. Henry Bellmon announced Thursday.

In addition, he released a report saying Oklahoma is ranked number one for Japanese manufacturing plant locations for the central region of the United States.

A national energy plan drafted by the Committee on Energy and Environment, comprised of Oklahoma and seven other states, will now be submitted for comment by the 22 states to industry, environmentalists and other sources.

After revisions are made, the plan will be sent to all 50 states for approval.

The plan will then become the policy of the association.

It plans then to request approval by the President of the United States and the appropriate committees of Congress, said Bud Stewart, energy advisor to the governor.

Tax incentives for oil and natural gas exploration and production, conservation and research grants are part of the plan, which is estimated to cost about $5 billion.

The plan recommends for revenue a nickel per gallon increase in gasoline and diesel taxes at the pump, a 2 percent import fee on oil and a BTU tax on anyone who uses fuels.

Tax incentives would get the investment capital restored to put 2,000 rigs to work and increase employment, Stewart said.

If approved by the National Governors Association at a meeting in February, it would be ``the first time a comprehensive group of any size and any clout'' has agreed to a comprehensive national energy policy, Stewart said.

Japanese plant locations increased in Oklahoma from one to seven from March 1985 to May 1987, according to a published report by the Japanese External Trade Organization. …

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