Printer Friendly

ENERGY BILL TERMED TOUCHDOWN BY NARO

 ENERGY BILL TERMED TOUCHDOWN BY NARO
 ADA, Okla., Oct. 8 /PRNewswire/ -- U.S. Senate passage early today


of a so-called National Energy Bill is termed "a major first step to restore financial sanity to our domestic oil and gas producing capability," according to officials of the National Association of Royalty Owners (NARO).
 Jim Stafford of Ada, president of the 5,000-member organization, which serves as the voice of the nation's 2.5 million oil and gas royalty owners, said passage today of H.R. 776, "solves many consumer and environmental fears clogging direct domestic production relief and that, in itself, is a victory, since it blunts much negative criticism derailing past legislative attempts.
 "Its tax measures, specifically relief from the Alternative Minimum Tax by easing abusive tax penalties for drilling by independent oil and gas producers, will provide a needed spurt for domestic exploration. However, much more direct action will be needed next legislative session to revive the domestic energy industry, which has lost 400,000 jobs in recent years," he added.
 Stafford predicted President Bush would quickly sign the bill and "it should be praised as a tie-breaking touchdown by royalty owners and oilmen, regardless of its limitations,"
 -0- 10/8/92
 /CONTACT: Jim Stafford, president of National Association of Royalty Owners, Inc., 405-436-0034/ CO: National Association of Royalty Owners ST: Oklahoma IN: OIL SU:


AH -- NY092 -- 8006 10/08/92 15:45 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1992
Words:235
Previous Article:CULBRO CORPORATION REELECTS VINCENT TO BOARD AND ANNOUNCES ACQUISITION
Next Article:ZAPATA CORPORATION NAMES BOWERSOX EXECUTIVE V.P.
Topics:


Related Articles
DEATH-SPIRAL OF U.S. ENERGY INDUSTRY PREDICTED
NATIONAL ASSOCIATION OF ROYALTY OWNERS APPLAUDS INDEPENDENT OIL PRODUCERS IN URGING FOR ENACTMENT OF IMPORT FEE
NATURAL GAS CONGRESSIONAL REVAMP URGED BY ROYALTY OWNERS
The rickshaw prize.
Oklahoma City Set for National Royalty Owners Convention, Nov. 5-7.
Women Elected to Top Two NARO Posts.
NARO Legislative Council Endorses Bills Introduced Today To Aid America's Ailing Energy Industry.
Royalty Owners Back Save Domestic Oil Petition for Federal Probe of Crude Oil Dumping.
Bies addresses challenges in retirement savings.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters