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STATEMENT BY GEORGE P. MITCHELL ON THE SENATE OIL IMPORT FEE BILL

 HOUSTON, Jan. 29 /PRNewswire/ -- In response to yesterday's introduction of an oil import fee bill by U.S. Senators J. Bennett Johnston, (D-La.), and Bob Krueger, (D-Texas), Mitchell Energy & Development Corp. Chairman George P. Mitchell has the following statement:
 "The energy security fee bill just introduced before the U.S. Senate is of monumental economic importance to our country and could not have come at a better time. The Clinton administration has indicated that some sort of an energy tax will be necessary to reduce the federal deficit, and a fee on imported oil and products would do just that. But unlike the other taxes under consideration, the fee also would create jobs throughout the economy, reduce our dangerous dependence on foreign oil, improve the trade imbalance and benefit the environment by increasing the use of clean-burning natural gas."
 Mitchell noted that since the energy security fee was raised as a possible energy tax, Saudi Arabia has indicated that it plans to cut production and thereby raise the price of oil:
 "Every time it looks as though the United States is about to take control of its energy policy, OPEC tries to undermine our sovereignty by manipulating the market. Such actions highlight the need for a fee on imported oil and petroleum products."
 Mitchell Energy & Development Corp. is one of the nation's leading producers of American oil, natural gas and natural gas liquids. For more than a decade, George Mitchell has been a leading advocate of an energy security fee on imported crude oil and petroleum products.
 -0- 1/29/93
 /CONTACT: Tony Lentini or Debbie Siegfried of Mitchell Energy & Development Corp., 713-377-5650/
 (MND)


CO: Mitchell Energy & Development Corp. ST: Texas IN: OIL SU:

TS -- NY048 -- 0753 01/29/93 12:22 EST
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Date:Jan 29, 1993
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