California to appeal oil price control ruling in bid for fair value
California will continue its battle for fair market value of crude from state lands after the State Lands Commission ordered an appeal of a federal ruling. The move, led by Controller Houston J. Flournoy, targets about 650000 dollars daily lost revenue and the retroactive effect of last Friday's decision. The appeal to the Supreme Court, urged by Attorney General Evelle Younger, must be filed by August 26.
MENTIONED IN THIS ARTICLE
Sacramento
California
State Lands Commission
Tuesay
Houston J. Flournoy
Commission
Evelle Younger
FEO
Flournoy
State of California
Tidelands
Long Beach
John Mangell
Warren J. Abbott
Younger
U.S. Supreme Court
Drilling for gas oil on the rise in state
SACRAMENTO reports a near doubling of exploratory gas and oil wells in California over the past year. Division head John Matthews says rising fuel prices make drilling worth the risk as wells increase to 1,250 from 650. Additional crude finds could lessen foreign oil dependence and lower baseline prices.
MENTIONED IN THIS ARTICLE
Sacramento
UPT
California
State Division of Oil and Gas
John Matthews
Matthews
San Joaquin Valley
Bakersfield-Taft
Bay Area
Gulf near-shore oil bids total 76.4 million in junk sale
In New Orleans, the Interior Department drew 76.4 million in high bids for 49 Gulf of Mexico offshore tracts off Texas and Louisiana. The sale, called a junk sale, saw many previously rejected bids of about 130 million fail to attract new offers, with only 22 tracts receiving bids this time.
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New Orleans
Gulf of Mexico
Texas
Louisiana
Interior Department
Texaco
Eu‘zene Island
Dale Johnson
Washington
Interior
Marine Minerals
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Dooley
Fin
Aldebaran
Maracaibo
Arcturus
Zenith
Inclinedia Alta Creel
Gulf