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LAST SEPTEMBER the entire population of a puny but spunky south Texas town had the guts to do what most of us just fantasize about. After experiencing a 600-per-cent increase in its gas bill over the past five years, Crystal City up and decided it couldn't and wouldn't take it any more, and its 8000 residents defied the gas king of south and central Texas, LoVaca Gathering Company. They said no to exorbitant rates, and have borne the consequences. Crystal City has been without natural gas since September...
...FERC, which sounds like several obscene words, all misspelled) the authority to regulate the price of all gas. Both allow the price of newly discovered gas to increase annually from $1.75 per mcf by the rate of inflation plus three-and-a-half to four-and-a-half per cent, meaning the price will shoot up to around $2.50 per mcf by 1985. Finally both proposals would remove controls in the '80s while leaving the authority to reimpose them with FERC if prices shoot up, although in the Senate version this power would be surrendered after two years. Over...
...provisions in the bill requiring that the profits made from the looser definition of "new gas" be reinvested in exploration. And also, these corporations, making enormous profits now, and more in the future, have little need for incentives. In 1976 they made $9.2 billion in profit, a 93-per-cent improvement over 1972, and they achieved an average return on their investments of 14.6 per cent--substantially higher than most other industries. Carter's question was again to the point: "Who will profit from these prices and to what degree...
...volcanic island of Iceland is roughly the size of Kentucky. Snowfields and glaciers cover more than 13 per cent of the area...
Dukakis told a meeting of the Cambridge Civic Association that 95 per cent of the state's social welfare problems are in its older cities, and said that aid based on objective need criteria would help solve these problems...