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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Apr 17, 1973
Page
3
United States banks must create dual prime rates for large and small firms. Small loan rates should stay frozen unless justified by cost rises, while large loans may respond more to money market changes, with caution against disruptive effects.
An Associated Press survey across 11 cities on April 2 and April 16 shows 46 percent of 40 items stayed the same price, 25 percent fell, and 20 percent rose despite the Nixon price ceilings. Pork price declines were most common as hog supply grew, with veal often unavailable.
Leaders in Laredo and Mineral Wells warned of tough times as the Pentagon announced the shutdown of two large bases and related jobs cutbacks. Laredo AFB faces 2,100 military and 520 civilian jobs vanish by 1976, with Ft. Wolters shifting to Alabama and other Texas sites sharing reductions.
L. W. Holm of Union Oil Co. of California will deliver the April SPE Trans Pecos Section lecture at 6:30 p.m. in Monahans Country Club. His talk titled Residual Oil Can We Recover It Economically will cover feasibility of recovering residual oil from U S reservoirs, review advanced recovery processes, and cite field experiences including hydrocarbon miscible and carbon dioxide methods.
Gregg Chastain, 21, in Tigard Oregon received 315 Standard Oil gasoline cards in one package while company records show 342 issued. A computer goof caused the excess. 27 cards remain unaccounted for as officials pursue them.
Analysis compares steer prices to the rise in the first class postage, medical care, hourly wages, baby and hospital costs. It notes live cattle prices in Europe at the start of 1973 averaged 56 dollars per hundred.
Site preparation on a 41 acre Midland project signals the start of earth moving for a new oil industry themed museum. The project budget is 1 to 1.5 million dollars, with 32 000 square feet of space including three exhibit areas and a 7 200 square foot basement. The central exhibit will cover the Permian Basin, while wings focus on oil history and exploration.
The 5th U.S. Circuit Court of Appeals endorsed higher gas prices in Southern Louisiana to spur exploration. The ruling allows automatic ceiling hikes, higher prices for discovered substantial gas, and permit writeoffs of previously ordered refunds. NYC heating would rise about 60 cents monthly.
Two West Texas men go on trial in a mail fraud case alleging they fixed gauges on a pipeline to show more oil was delivered to Shell Oil Co. than was pumped. L. E. Windham, 59, operator, and A. B. Harlow, 54, pumper, both from Upton County, face a 35 count indictment. Shell mailed checks to their McCamey homes for the oil, according to the grand jury.
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