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)

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JESSE M.CALIIOON, head of the A NEGOTIATING group j

.garine Engineers Beneficial

, representing some 500 western i

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Association, has come up with a bankers lef t Poland Friday af ter Totals Felt Enougit T

• harply different approach to agreeing to reschedule $1.7 billien of s

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telping the lagging U.S.-flag principai repayments.

Page6A

.N Any Shortfall Due J

y-rnerchant ilect.

Pagel3A t,

SEN10R BANKERS have begun work To Persian Gulf Halt t

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

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.in the naturally deep water of the problem of deposits blocked in By SAM GLASSER i

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Delaware Bay have been barred by a Citibank's Manila branch, which has m' o' c~a smt b

threatened to ur.dctmine the

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Delaware board, which said the plans Strate 8 c oil reserves held bY it i

- fall within the statc's strict Coastal philippmes. efferts to reschedule part Western governments and spare p

Zone Act.

PageIB agc6A ctude oil production capacity world-I wide would be sufficient to make up a

INSURANCE SURFACE TR ANSPORTATION most of the shortfall resulting frcm 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

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Page 2A triggering state guaranty funds in set on fire.

Indiana and elsewhere.

Pa ge 7A The ship, which was under time-p,

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BUSINESS IN SPACE charter to a Swedish company, had s

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

'n MCDONNELL DOUGLAS facility. Iraq, which ironically has the L

Astronautics Co. now believes it has a THE REVISED Chicago Board of 4

r.cw computer scanning testing Trade crude oil contract, which support of the Saudis in its bitter war t'

with Iran, now in its fourth year, has sclag Mergeared declared a blockade around Kharg.

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-7 system that will ensure against future c

failures of the payload assist modules t ward the oilindustry,s needs,,.is Iraq exports its oil by pipeline to a which boost communications u pec e pr ce a dah volume Turkish Mediterranean port.

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' satellites into high orbit.

Page2A Iran, in turn, has threatened to

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i 3,000 to 4,000 contracts w,thm a i

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year.

Page9A bottle up gulf shipping if it is denied

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

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GENERALNEWS 1

SPOT UTILITY coal prices have-Last week's incident had virtually t

n e et on crWe or product prices.

w firmed considerably since the BETHLEllEM STEEL CORP.

begmmng of the year,as higher-expects to show a profit in the second

1. If f ur r five ships a day start

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u pl.

I'.m.ying there, you !! have a prob-quarter of 1984, assuming that prices c!cetric power demand and hedge said an intemational analyst buymg against a possible strike this are higher and imports 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 supplies are disrupted, even though t'2t'2 a.

Aviation Fde

-N around to substantially mitigate any [

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

. h A MAJOR NEW thrust for UnicY commoe.ty ince s sA shortfa!! from that area.

Carbide Corp. is sellingg./hnolj,e, go]g;:1.cns.

Indeed, the markets for so called

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and engineering servicC; Alec b'

rcreign EscNnge -

I6A short. haul crudes from the North Sea, A

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rgo Fla mm, president of the corporation, Fore.gn v a kets.-

.... t A West Africa, Mexico, as well as US.

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

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

.N meeting in Danbury, Conn. Page 22B

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y time at the expense of Persian Cult tt 3

y Mant me e, ef s..J

..... h a crudes, notcd Larry Co!dstein, senior no WORLD TRADE canimeresi saws.

_ e A,s4 cconomist of the Petreicum Industry

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

23 Research Foundatien in New York.

s1 er HEADING TOWARDits annual

$7e'3c.C,7 4

The North Sea and Nigerian qi shareholders meeting in the sn.p cares J -.

"HMa crudes genera!!y have been selling on Tl middle of May.ltalian electronics sh.p chaner tran t..

........ u r the spt market for close to, er just rc e

and effice equipment group Olivetti Sh P Mo " **"tS S p.A. will have some strong results 5T[lQ,,.

c :15 over, official postings, and Mexico co 8^ '^ 2]

last week increased its heavy crude j,-

to show of f.

Page 23B wo,se ve ey rret..

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COAL / PETROLEUM

. 0 ". ERCE. Monday. Aprd 30.1984 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 if assembly site permits cae

. in barge lets.

the short. haul crudes, their exposure 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 O Canyon ~\\TUke [ ant through a pipeline running to 8 Port son-Knudsen Co. of Boise, le on the Red Sea.

Tacoma Boatbuild:,ng Co. of Tac 2

A major oil company analyst and Concrete Tech.

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points out that strategic government-Morris-Knudsen would pre A

'L held stocks, including the U.S. strate-overall construction manage gie reserve, total about 1.3 billion and contract for delivery and 11 nim e si 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 Tenneco Posts increase 660 fcct in di meter.

wn tm mpa-Prias m.a unis su sine' In First Quarter Net 12rac Sit ^

• 7" ' *

• pwn i. in e trioun.

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; I}&22 Ek"}23

'k"}%, a 40 pcreent increase over its forms, one concrete hulled at 54 to st 00 million o to. t! to et to. s2 60 M"