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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Gary Burton who wrote (36814)	2/4/1999 9:19:00 PM
From: Mike from La.	Respond to of 95453

Getting Congressional approval for buying oil for the SPR failed last Sept in the HOuse, and probably would fail again. However, the Dept of Energy is discussing a plan to take the oil as payment in kind from offshore leases. The MMS is reluctant because accounting would be difficult, but it doesn't need Congressional approval. It is a possibility, probably a fall back if it seems certain that congress won't give the money for an out right purchase. Mike from La.