text: U.S. Interior Secretary Donald Hodel said he does not support an oil import fee as a means to stimulate domestic oil and gas production. I am an advocate for incentives for exploration Hodel said but added I do not favor an oil import fee. It would inject the federal government so deeply back in to the process we would never get the government out again and I think that would be in the long term disinterest of the nation Hodel said in an address to a group of local business executives. Earlier today Congressmen from oil producing states introduced a bill that would impose a fee on oil imports. Hodel said he supports drilling incentives such as repeal of the Windfall Profits Tax and Fuel Use Act and deregulation of natural gas. The secretary also said oil and gas exploration offshore California and in the Artic National Wildlife Refuge is necessary to prevent the U.S. from becoming too dependent on foreign supplies of oil for its energy needs. Failure to approve such exploration Hodel said would lead to greater U.S. dependence on foreign sources of oil. In the next two to five years no matter what we do today we are very likely to find the U.S becoming 50 pct or more dependent on imports for its oil requirements Hodel said. If OPEC were to raise oil prices sharply Congress would likely act to have the federal government fix gasoline prices and allocate supplies Hodel said. If they allocate supplies you and I in the same two-to-five year time frame could well find ourselves sitting back in gas lines Hodel said. Exploration for oil and gas in offshore areas and in the Arctic National Wildlife Refuge would not jeopardize environmentally sensitive areas Hodel said. We are convinced we can meet and resolve every environmental concern that is raised Hodel said. Reuter
target: U.S. INTERIOR SECRETARY OPPOSES OIL IMPORT FEE