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NATIONAL ASSOCIATION OF ROYALTY OWNERS APPLAUDS INDEPENDENT OIL PRODUCERS IN URGING FOR ENACTMENT OF IMPORT FEE

 MIDLAND, Texas, Jan. 13 /PRNewswire/ -- The National Association of Royalty Owners (NARO), representing the nation's 4.7 million oil and gas royalty owners, today applauded the strong stance of independent oil producers in urging the Clinton administration to swiftly enact a foreign oil import fee.
 "NARO supports the Independent Petroleum Association of America on this vital security issue," said Grier Brunson, NARO chairman of Midland. "The security risks posed by heavy U.S. dependence on foreign oil far outweigh any politically motivated opposition to this tariff. This nation is in immediate peril of becoming a permanent economic hostage to the unstable middle-east cartel," Brunson said.
 "With 27 global conflicts flaring today, the American people can ill afford another fuel crisis. Our current course will guarantee complete atrophy of the domestic industry. The free market' in international oil is utter fabrication," said Brunson. "It does not exist. The stark reality is the nation's energy sector has 400,000 people out of work, rigs cut into scrap iron, and nearly 200,000 marginal oil wells abandoned forever."
 "A gasoline tax would merely aggravate the national security threat, rather than address it. This would prove yet another tax- and-spend congressional band aid on an open artery. The IPAA has finally obtained an industry consensus on this issue, and the new administration would do well to heed this call.
 "America needs only to watch the current public television series, The Prize' to fully comprehend the long-term effects of ignoring the history of petroleum and global power. President-elect Clinton can assure our energy future with the stroke of a pen, as Congressional action is not required," he added.
 Royalty owners receive a share of production from each well because of ownership of sub-surface mineral rights.
 -0- 1/13/93
 /CONTACT: Grier Brunson, 915-684-0551, or Jim Stafford, 405-436-0034, both of the National Association of Royalty Owners/


CO: National Association of Royalty Owners ST: Texas IN: OIL SU: ECO

IH -- DC018 -- 4512 01/13/93 15:06 EST
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Publication:PR Newswire
Date:Jan 13, 1993
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