Word: fea
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...formal nomination while the FBI checked more thoroughly into his background as a corporate executive and former head of the U.S. Maritime Administration. Presidential Press Secretary Ron Nessen explained lamely that the nomination had been decided on hastily (Ford had just forced John C. Sawhill's resignation as FEA chief), without time to conduct the usual investigation...
...merger with a subsidiary of Cities Service Co., a big oil company. But Interstate had already agreed to buy out his contract if he left for $1 million, payable over ten years. Under that agreement, he would still be receiving money from the company while he ran the FEA. Interstate gets all its revenue from oil companies-which the FEA regulates-and from utilities, for which its tankers carry petroleum. The company's impressive growth, the Journal suggests, is largely a result of subsidies and loan guarantees for tanker construction that it has received from the Maritime Administration that...
...Andrew E. Gibson, 52, an almost unknown shipping executive and former Government official, who will succeed Sawhill as head of the FEA at year's end. Gibson captained a World War II troop-and cargo-carrying Liberty ship when he was only 22, later became a senior vice president of Grace Lines, head of the U.S. Maritime Administration and an Assistant Secretary of Commerce. He is known as a no-nonsense executive...
That there is no place for Sawhill on this team is no great surprise. Sawhill, 38, who took over FEA last May, pushed for stronger energy conservation measures than the Administration was willing to adopt; Morton tends to favor increasing U.S. energy production as an alternative way of reducing dependence on high-priced imported oil. Sawhill often bypassed bureaucratic channels to plug his programs directly in the White House and on Capitol Hill...
...instance," says Assistant FEA Administrator Eric Zausner, who directed the entire Independence effort, "we don't have to regulate the auto industry -but then we will have to develop the hell out of Alaska. A lot of the trade-offs depend on basic value judgments that the country really has to make...