Word: feo
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...average, the handicapped need 100 gal. Disabled drivers require more gas because they are dependent on their cars for traveling even the shortest distances. The Department of Health, Education and Welfare and the President's Committee on Employment of the Handicapped, however, are working with the FEO to change its plans. At the local level, some of the handicapped are organizing to protest. At a rally in New York last week, several groups threatened to stage traffic-blocking demonstrations if they are not given special consideration under that state's rationing plan...
Some figures from the Federal Energy Office sketch the situation. In January, Energy Czar William E. Simon told the recent 13-nation Washington energy conference, world oil production ran at 46.2 million bbl. per day, or 1.6 million bbl. below September, the last month before the Arab production cutbacks. FEO figures also indicate that January oil imports to the U.S. fell 1.14 million bbl. per day below September. The obvious conclusion, though Simon himself did not draw it, is that the U.S. is suffering around three-fourths of the world petroleum shortfall. Supplies available to be imported by other...
...many small-and medium-sized refiners with inadequate crude supplies stopped trying to buy oil abroad at auction prices ranging up to $20 per bbl., secure-they thought-in the knowledge that they could buy it at home for about $7 or $8. But major oil companies, or so FEO officials believe, reduced imports because they were reluctant to sell so cheaply. Gulf Oil has brought suit against the FEO, charging that by requiring it to sell its crude at relatively low prices, the Government is in effect confiscating its property...
...FEO officials privately concede that the crude-oil allocation plan, which was ordered by Congress, has been an "unmitigated disaster." Simon last week called on Congress to suspend the program for 90 days to allow time to amend the system. Such a move would temporarily enable the majors to keep all the oil they import for themselves and should persuade them to step up imports. One possible change in any new allocation plan: only small refineries turning out no more than 30,000 bbl. per day would be permitted to buy from companies in the U.S. That limitation would probably...
That program, says FEO Deputy Administrator John Sawhill, still has "kinks...