API PRESIDENT SEES OPTIONS TO AVERT OIL CRISIS
American Petroleum Institute President
Charles DiBona said no options should be rejected to combat 
growing U.S. dependence on foreign oil.
    "No action should be ruled out--import fees or quotas,
floor prices, tax incentives or other alternatives--while a
national dialogue on the issue continues," DiBona said at a 
paper institute conference in New York today.
    DiBona said there is no unanimity within the industry on
how to stimulate energy production but there is consensus on
removing several government policies that hinder investments in
new prospects.
    DiBona said the windfall profit tax should be abolished
immediately and current proposals for increased environmental
regulations on acid rain and waste disposal should be not
adopted. He also suggested that the Arctic National Wildlife
Refuge in Alaska should be opened up for leasing to oil
companies, DiBona said.
    "This is a battle the industry cannot afford to lose if the
nation is to continue to benefit from Alaskan oil," DiBona
said. Since 1986 U.S. oil production has fallen while
consumption rose and that has raised dependence on imported
oil, particularly from OPEC, DiBona said.
   
 Reuter
