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Sinking in a sea of imported oil. (U.S. dependence on foreign oil) (Editorial)

Petroleum Independent

| February 01, 1992 | Wells, Bruce | COPYRIGHT 1990 Independent Petroleum Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Last year independent producers spent billions of dollars in 33 states for exploration and development--despite huge federal tax barriers, historically low drilling activity, and natural gas prices back where they were 15 years ago.

U.S. producers are not going to allow their industry to wither away--not without a fight.

Although these small and medium-sized companies often feel ignored by Congress and the Bush administration, election-year politics and a unified approach by the Independent Petroleum Association of America may yet combine to bring results in 1992. But as the infrastructure of a vital American industry collapses, policy makers seem determined to set …

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