Page 2


lieS *110;0;*i In a Hurry? Fast Self Service; New Soup & Salad Bar. …or Sandwiches, Chili, Tacos, Chalupas, and restaurant. baked Buttermilk Pie served by our staff. Daily Specials. Sunday Brunch. Omelettes and Eggs Benedict. Haagen Dazs Ice Creath and fresh yogurt. the greenhouse Above the Kangaroo Court. Downtown Riverwalk 314 North Presa, San Antonio, Texas. HALF PRICE RECORDS AAGAZINES DALLAS Big Main Store 4528 McKinney Downtown: Austin Alley, across from El Centro College \(A \(Austin & FORT WORTH 3 ield 16301 Camp BOW le Blvd.1 306 F Ridglea Shopping Center ACO TEMPLE Towne & CountrY Mall 4401 S. General Bruce Dr. RICHARDSON 508 Lockwood FARMERS BRANCH nter Farmers Branch Shoppi n g ane Valley View & Josey L -. .” k: C.’ .` ..; Good books in every field JENKINS PUBLISHING CO. The Pemberton Press John H. Jenkins, Publisher Box 2085 g3f Austin 78768 ANDERSON & COMPANY COFFEE TEA SPICES TWO JEFFERSON swum AUSTIN, TEXAS 78731 512 453-1533 Send me your list. Name Street City to use the reserve. It will take a presidential finding of a “severe energy supply interruption,” and no one has specified just what that is. The biggest current obstacle to proceeding is, of course, the inabil ity to buy more oil to store. The Carter. administration called a halt to the purchases last fall when the revolution in Iran began to disrupt the world market and is still holding off because of continued delicate market conditions. Official prices of about $15 a barrel don’t come close to the spot market prices of about $40 a barrel; President Carter agreed at the Tokyo summit conference last summer to stop buying oil for the reserve; and Saudi Arabia demands that we forbear our stockpiling. The Saudi viewshared by other Arab nationsis understandable enough, given that SPR’s purpose is to shield the U.S. from their primary political and economic weapon, an oil cutoff. Though less than ‘one-fourth of the oil now in storage came from Arab nations, all of that oil was imported. Those who want to proceed immediately with more oil stockpiling don’t seem to regard the oil supply as a problem. When the Observer asked Dole assistant Fritts where the oil is to come from, he replied that the administration can get it on the spot market, that the amount per day called for by the senator’s amendment is negligible, that Carter is just giving in to Saudi blackmail and not to the prudential argument against driving up world oil prices. But most other observers disagree. Jim Griffin, an Energy Department spokesman, told the Observer that Dole’s proposed requirement of 100,000 barrels a day in new oil reserve purchases “doesn’t seem to make logical sense.” And Thomas Noel, who headed SPR for 14 months in 1976 and 1977, said it would by “awfully tough” to buy the amounts Dole suggests because “the producing countries aren’t stupid.” What he called the “window”which, as near as we can tell, is current Washingtonese for “opportunity”we had for oil purchases a few years ago just doesn’t exist anymore. There are, of course, oil sources other than imports. In testimony before the Dingell subcommittee in September, DOE under secretary John Deutch mentioned several possibilities, but none is an immediate solution to the supply problem. There’s Alaskan oil. which can be produced faster than the West Coast refineries can handle it. But there’s no way to get it to the storage sites. There’s the Naval Petroleum Reserve. But it would be incredibly expensive to drill the reserve full of holes and then cap them pending an emergency. And anyway, that reserve is supposed to be for military, not civilian, emergencies. And then there’s royalty oil, the oil the gov Syr, t ip -GRocEgy 1000 West Lynn, Austin, Texas 478-3001 Store hours: Mon-Sat 9:30-7, Sun 12-6 Zip 12 NOVEMBER 30, 1979