ML20112D385

Intervenor Exhibit I-SC-LP-12,consisting of Portions of Various Periodical Articles,Including Glasser 840430 Article, West Sees Sufficient Oil Reserves

ML20112D385
Person / Time
Site:	Shoreham File:Long Island Lighting Company icon.png
Issue date:	07/31/1984
From:	Glasser S AFFILIATION NOT ASSIGNED
To:
References
I-SC-LP-012, I-SC-LP-12, OL-4, NUDOCS 8501140255
Download: ML20112D385 (3)

Text

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Insic e Todacyn p E.fest ees a

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n h.h-SHIPPING L " 8ANhlN'G (3 *""n

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^Reser,ves .

JESSE M.CALIIOON, head of the A NEGOTIATING group

.garine Engineers Beneficial , representing some 500 western j

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• i Association, has come up with a M;.gT *s harply different approach to bankers lef t Poland Friday af ter agreeing to reschedule $1.7 billien of Totals Felt Enougit  ;

).$,~ telping the lagging U.S.-flag principai repayments. Page6A .N Any Shortfall Due J y- rnerchant ilect. Pagel3A SEN10R BANKERS have begun work To Persian Gulf Halt t,

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,., , PLANS TO top off large coal carriers on a compromise solution to the

• problem of deposits blocked in

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.in the naturally deep water of the Delaware Bay have been barred by a Citibank's Manila branch, which has By SAM GLASSER m' o' c~a smt i

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~- Delaware board, which said the plans threatened to ur.dctmine the philippmes. efferts to reschedule part Strate 8i c oil reserves held bY it.

- fall within the statc's strict Coastal Western governments and spare p Zone Act. PageIB agc6A ctude oil production capacity world- I

'" wide would be sufficient to make up a INSURANCE most of the shortfall resulting frcm  !

SURFACE TR ANSPORTATION THE LIFEinsurance industry is any halt in Persian Gulf oil traffic, d

'.'"i o THE INTERSTATE Commerce exploring ways that it could mdustry experts say. d Commission has decided to hold oral contribute to a fund toimprove Concern was heightened late fast o 3' argument on CSX Corp.'s returns for policyholders with week, when a Saudi-flag oil tanker e

.. I centroversial proposal to take over annuities created by the troubled carrying about 2.6 million barrels of li

.' American Commercial Barge Lir,cs Baldwin. United Corp.,instead cf crude was apparently attacked and C

'. g" ' Inc. Page 2A triggering state guaranty funds in set on fire.

The ship, which was under time-Indiana and elsewhere. Pa ge 7A p,

q. . BUSINESS IN SPACE charter to a Swedish company, had s

'n COMMODITIES loaded at Iran's Kharg Islar.d export i:

MCDONNELL DOUGLAS facility. Iraq, which ironically has the L Astronautics Co. now believes it has a THE REVISED Chicago Board of support of the Saudis in its bitter war t' 4 r.cw computer scanning testing Trade crude oil contract, which with Iran, now in its fourth year, has sclag Mergeared

-7 c system that will ensure against future declared a blockade around Kharg.

t ward the oilindustry,s needs,, .is c failures of the payload assist modules Iraq exports its oil by pipeline to a

@# which boost communications u pec e pr ce a dah volume Turkish Mediterranean port.

M ' satellites into high orbit. i 3,000 to 4,000 contracts w,thm i a Iran, in turn, has threatened to

d. Page2A year. Page9A bottle up gulf shipping if it is denied ]

.99 COAL II* "IY *il **P #* ' "I

GENERALNEWS Last week's incident had virtually 1w SPOT UTILITY coal prices have-firmed considerably since the BETHLEllEM STEEL CORP. n e et on crWe or product prices.

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1. If f ur r five ships a day start begmmng of the year,as higher- expects to show a profit in the second quarter of 1984, assuming that prices u pl . {

c!cetric power demand and hedge are higher and imports I'.m.yingsaid anthere, you !!analyst intemational have a prob-buymg against a possible strike this .

fall have put life back in the j wer. Page SA with a maj,or U.S. c:1 company, Analysts also predict a major run-tg market. PagellA wruQ INDEX OF FEATURES up f prices, at least temporarily, if ,

t'2t'2 a. Aviation Fde supplies are disrupted, even though og

, 2A BAN E there is enough non. Persian Gulf oil g,5$,c7,l,7

. hO A MAJOR NEW thrust for UnicY f ,

commoe.ty ince s

-N sA around to substantially mitigate any shortfa!! from that area. .y

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Carbide Corp. is sellingg ./hnolj,e, go]g;:1.cns. 9A (rgo and engineering servicC; Alec b' Fla mm, president of the corporation, rcreign EscNnge -

Fore.gn v a kets.-

I6A Indeed, the markets for so called short. haul crudes from the North Sea, West Africa, Mexico, as well as US.

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A oO told shareholders at the firm's annual Futures Tra e.ng.

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.t A,5 A in fields, have been firm for quite some

.N meeting in Danbury, Conn. Page 22B [577,}',3 y time at the expense of Persian Cult gr y Mant me e, ef s ..J

..... h a crudes, notcd Larry Co!dstein, senior tt no WORLD TRADE canimeresi saws . _ e A,s4 cconomist of the Petreicum Industry

ca.o sho Ta'k ..........- 23 er

" Research Foundatien in New York. s1 HEADING TOWARDits annual shareholders meeting in the

$7e'3c .C,7 sn.p cares J - . "HMa 4 The North Sea and Nigerian crudes genera!!y have been selling on qi Tl middle of May.ltalian electronics sh.p chaner tran e t.. .... .... u r the spt market for close to, er just and effice equipment group Olivetti Sh P Mo " **"tS ' rc c :15 over, official postings, and Mexico j,-

S p.A. will have some strong results to show of f. Page 23B 5T[lQ,,.

8^ '^ 2] last week increased its heavy crude co m

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. 0 ". ERCE. Monday. Aprd 30.1984 COAL / PETROLEUM _

9 11 Strategic Oil Reserves Platform -

Prices M West Eeld Sufficient Facilit CONTINUED FRCM PAGE 1 A 2U million barrels level defined as 22/2 O

,,m m.imum operating mventory.

u m se prices by 50 cents a barrel. Its light Oil exports through the Persian By BRUCE JOHf.'SC*I e spot prices for No. crude is moving at the market, Mr. Gulf now account for 7 million to 7.5 wmcem..swa r .

New York Harbor Goldstein noted. million barrels a day of the non- TACOMA, Wash. - A censort i frem their levels For quite some time now, refiners Communist world's demand of about of three ecmpanics is plar.ning

mmodity News Ser- in the United States and Europe have 33 million barrels a day. Any disrup- construct lari;e ice-class cil expl generally been running down their tion in gulf shipments would most tion platforms at the Port of Tac.

poted at E5.50 to E6 stocks of crude oil, and by purchasing likely be a series of intermittant

. in barge lets. the short. haul crudes, their exposure if assembly site permits cae closures, not a sustained one, said secured and crders can be wo

.!ine was als'o un- to market upsets is lessened.' Steven Smith, senior vice president, competition with Irs-cost A

. 7325. Given the seasonal downturn in oil energy products at Data Resources yards.

caded gasoline were demand and the cost of financing ine., a Lexington, Mass., econcmic The platform assembly site I un: hanged frcm their inventory, "this is not the time of year consulting firm. cet was set in motion when Po:

. to put away barrels," Mr. Goldstein He and other industry observers Tacoma commissioners approve u 2 cil en the U.S. Gulf said. believe about 3 million to 3.5 million agreement by which Concrete 'I cd at 73 25 to 7240, ' On the other side of the coin, the barrels a day could be made up from nology Corp. of Tacema can bec to 79.10 en Thursday. reduced levels of industry.hcid crude oil producing countries outside the lessee of the port. owned sit

]ne was 78 to 72.35, and product inventories increases the gulf. Members of the Organization of environmental protection and c h to 78.50. potential volatility of product prices, Petroleum Exporting Countrics, now shoreline development permits

Mine was qucted at and severe run.ups would likely occur producing just below a self. imposed obtained.

p3 red with E0.50 to in the event of a major disruption. 17.5-million-barrel a day output ceil- Concrete Tech is internatio ay. In the United States, the Depart- ing, have substantial spare capacity. known for its shcreside and m:

est Texas Intermedi- ment of Energy reported that crude Cash. strapped Nigeria could prob- applications of prestressed een uoted at $30.45 to oil stocks, excluding the Strategic ably increase its production the most, structural components, includin en from 530.55 to Petroleum Reserve, totaled 345.9 mil- going from its present 1.3 million Atlantic Richfield indenesia's day. ~ lion barrels as of April 13. This is barrels a day to about 2.1 million. ing liquefied petroleum gas st<

lna Sweet crude was below the low side of the average Venezuela could also go up substan- facility and a floating cont:

down from !30 85 to seasonal range, about 350 million tially, to about 2.2 million barrels a wharf at Valdez, Alaska. .

barrels, but is considerably above the day from just under 1.7 million The Beaufort Sea oil explar presently. And, Saudi Arabia could platforms being sought for cons ship another million barrels daily tion at Tacoma would involve 5 son-Knudsen Co. of Boise, le O Canyon ~\TUke [ ant through aonpipeline the Red Sea. running to 8 Tacoma PortBoatbuild:,ng Co. of Tac A major oil company analyst and Concrete Tech.

2 b- g 7 A *g g*[g] points out that strategic government-held stocks, including the U.S. strate-Morris-Knudsen would pre overall construction manage

'L nim e si gie reserve, total about 1.3 billion and contract for delivery and 11 ne tests could be finished as early barrels worldwide, which could cover laton of platforms if desire '

fH, Calif. - Opera- as Saturday, but Mrs. Brown refuseF4 million barrels a day for a vear - buyers. Concrete Tech would d

% front Diablo Canyen to pinpoint the time the reactor would the U.S. reserve alone could account concrete hull component wor) lant, with 11 years of begin its first nuclear reaction, say. for about a quarter of this volume. Tacoma Boat would do the steel sentroversy behind ing only that it would be "sometime Mr. Smith of DRI also notes that and outfitting to the cxtent desir

( preparations Friday this weekend." shut.in natural gas capacity in the platform owners.

pyed startup. "They're taking everythin:: very United States could account for about "We're prepared to offer the -

) Electric Co. spokes- slowly," she said. "They're not m a a million barrels a day of crude oil er a platform in place, turnkey,

n said the water rush on this thing." equivalent, with another (50.000 po- Karl Anderson, vice preside e of Diab!o's 1,100 John Sumner, the engineer who tentially available frcm Canadt marketing for Concrete Tech.

3 reacter was heated designed the. reactor's start.up pro. The gas wouldn't necessarily be Envisioned is final asseml temperature of 550 Cram, said testing was going well. able to substitute for oil very quickly subassemblics at a 30. acre, e;t Friday morning. *We're feeling great s*,out it, but since not every consumer has that owned site en frontage of Tac 1 rocm perscnnel to that doesn't mean wc*re not bemg capability, but the supplies are there, deep water Ccmmencement Ba tins" testing. painstakingly careful about it." and are commercially available. planned graving dock would be cnough to construct platforms WEEKLY GASOUNE PRICES 660 fcct in di meter.

Tenneco Posts increase wn tm mpa-Prias m .a unis su sine' 12rac Sit ^

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• pwn i . in e trioun. In First Quarter Net cnable the three. member grc e4 e3. te ms 1560 s2 33 stic . ss 33 Tenneco Inc. Friday said its 19E4 compete head.cn with Jap yy;jyj lO3: y8 UO: $$ first quarter net income was $155 yards where two Ecaufort Sc; o to . t! to et to . s2 60 54 to st 00 million forms, one concrete hulled at I}&22 Ek"}23 'k"}%, a 40 pcreent increase over its M"