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DEATH-SPIRAL OF U.S. ENERGY INDUSTRY PREDICTED

 DEATH-SPIRAL OF U.S. ENERGY INDUSTRY PREDICTED
 WASHINGTON, Feb. 4 /PRNewswire/ -- Alarmed owners of some of the


nation's 5 million sub-surface mineral interests voted today to endorse "in principle" the proposed National Energy Strategy now in Senate debate.
 Grier Brunson of Midland, Texas, chairman of the National Association of Royalty Owners, Inc. (NARO), called for the endorsement of S. 2166, authored by U.S. Sens. Bennett Johnston (D-La.) and Malcolm Wallop (R-Wyo.), "as a needed but stopgap solution to slow the death-spiral of the domestic energy industry."
 "In recent weeks, thousands of producing oil and gas wells have been thrown on the market as the major oil companies flee the United States. Many are being forever abandoned, which puts this nation at risk of high-stakes economic blackmail by the exporting nations," Brunson said, adding that NARO, now in its yearly Washington board meeting, believed the energy bill was needed but specific incentives were "too little, too late to save a dying domestic energy industry."
 He said NARO, in an unprecedented move, further voted to support the Independent Petroleum Association of America in its push for relief from "criminally oppressive tax penalties, specifically the so-called Alternative Minimum Tax that is costing this nation thousands of jobs and the destruction of an industry vital to the nation's economic health."
 NARO, headquartered in Ada, Okla., also passed the following resolutions:
 "Endorsement of all efforts to increase use of domestic oil and gas.
 "NARO also supports and endorses the efforts of the energy industry and state regulatory agencies to correct and prevent environmental problems, but cites as fatally counter-productive classification of drilling mud and produced fluids as hazardous or toxic."
 Brunson, a mineral management professional, today also warned U.S. Secretary of Energy Adm. James Watkins in a meeting with industry leaders, that "our increasing dependence on imported foreign oil and the resulting trade deficit also means we are exporting jobs and their related payrolls, sacrificing tax revenues and bypassing a life-line for economic survival."
 -0- 2/4/92
 /CONTACT: Jim Stafford of the National Association of Royalty Owners, 202-543-6000/ CO: National Association of Royalty Owners ST: District of Columbia IN: OIL SU: LEG


DC -- DC030 -- 6765 02/04/92 13:56 EST
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Date:Feb 4, 1992
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