Page 2-Friday, September 21, 1979-The Michigan Daily SUPPLIES EXPECTED TO MEET WINTER HEATING AND FUEL OIL DEMAND : I fi 11111 I 11 Carter forms fuel planning panel WASHINGTON (AP) - The Carter Regulatory Commission said natural The president's decision to single out Conn., Carter applauded Texaco for administration announced yesterday gas supplies are reported adequate to Texaco's heating oil policy for praise announcing a "freeze" on heating-oil the formation of an inter-agency plan- meet expected demand this winter. has led to serious misunderstanding, prices and appealed to the rest of the ning group to make sure fuel oil goes company Vice President W. K. Tell industrytofollowislead. Giant T.V. Screen for Sporting Events Beer, Cocktails, and Extensive Wine List. AnfAbs F jnest Pizza 338 B. State street Anxn Arbor SERVING GREEK, ITALIAN AND AMERICAN CUISINE' FOR YOUR DINING PLEASURE See All the Monday Night Football Games where it is needed this winter to meet health, safety and agriculture needs. The group includes representatives of the Departments of Energy, Agriculture, Transportation, and the Small Business Administration. THE ANNOUNCEMENT said the group would emphasize adequate distribution of home heating oil in the northeast; diesel fuel in the nation's central region; and both heating oil and diesel fuel in the west. Known as the "Interagency Distillate Management Group", the task force is to receive policy guidance from the White House and from senior policy of- ficials of its member-agencies, the an- nouncement from the Energy Depar- tment said. Meanwhile, the Federal Energy THE COMMISSION said a survey of 28 interstate pipelines which carry almost 99 per cent of the natural gas transported between states indicates that gas demand can be met without significant disruption of industrial or business activities. The survey found that only 11 of the pipelines indicated they would need emergency gas supplies even in an ab- normally cold winter. Texaco officials, however, said that, despite some unsolicited praise from President Carter, they can't promise to freeze heating oil prices for the entire winter.' TEXACO'S PROMISE to not raise prices only covers this year, the of- ficials told a House energy subcommit- tee. testified. "It's unfortunate that it has been categorized as the national heating oil plan," he said. J. m. seamans, another Texaco vice president, said the company could not possibly commit itself to freeze prices through the full heating season. OBVIOUSLY you know and we know that OPEC (the Organization ofx Petroleum Exporting Countries) is meeting in December," he testified. Seamans also refused to say whether additional Texaco price increases would be limited to a pass-through of higher crude oil costs. "We do not want to give a false assurance to the public," he said. Last week, in a speech in Hartford, HEATING OIL prices have soared by some 60 per cent since last winter, to more than 80 cents a gallon. "The president didn't say anything,' about 'only until December'," said Rep. Toby Moffett, (D-Conn.), subcommit- tee chairman. He noted that the brunt of the winter heating season comes af- ter the first of the year. Moffett accused the firm of staging "a public relations coup," claiming Texaco "has among the highest prices and the worst credit terms in the in- dustry." Texaco announced on Sept. 7 that it planned to hold the line on prices, liberalize its credit policy and make emergency home heating oil available to those who needed it. Bar Special Frosted 10 Oz. Mug Mff * - * a * Dollar drops; gold hits new high " .,. " \ Today Is The Day * * * * * * * * LONDON (AP)-Lack of confidence in U.S. economic policies sent the dollar plummeting on world money markets yesterday, and analysts warned that further losses might be on the way. Gold prices jumped to fresh records, within sight of the $400-an-ounce level. The rush to sell dollars cost the American currency 2.7 cents against the strong Swiss franc and abruptly pushed up the hotel bills of American tourists in Europe in some cases by as much as $4 a night. IN FRANKFURT and Milan, the ' dollar hit its lowest levels since last Oct. 30, a day before President Carter announced an emergency $30-billion support package.. Currency dealers said the only European national bank trying to prop up the dollar Thursday was West Ger- many's Bundesbank, and there thehelp was half hearted and brief. One Frankfurt dealer said state bank support would do little to restore con- fidence. "It makes the dollar look like a sick man, held up on its feet only by in- jections." ANALYSTS SAID they believe Washington is indifferent to the dollar's Have Your Senior Portrait Taken Now qr CALL 764-0561 * * * * * * * * * * Chorus Men Needed For the Comic Opera Guild's production of PERICHlOLE AUDITION Sunday, Sept. 23 at 1:00 pm at First Methodist Church corner of Huron & State-3rd floor FOR INFO CALL 665-6074 instability and will not take steps to stem the decline. The dollar's troubles intensified when it became apparent that new increases in U.S. interest rates to record levels would not be enough to' make dollar purchases attractive to buyers. Some analysts said only a major sup- port program by the Federal Reserve to buy dollars would prevent a further slide in the value of the currency. In Washington, Anthony Solomon, undersecretary of the Treasury for monetary affairs, said the government expected "the dollar will remain basically stable" despite recent market conditions. The dollar's weakness against West German mark, he said, ''represents in part a reaction to the current U.S.-West German inflation dif- ferential." GOLD SOARED $16 on London bullion markets to close at $386 an oun- ce. In Zurich the closing price was $381.50. The metal closed Wednesday at $370 in both trading markets and was up $8 shortly after morning trading began. In New York, however, after a jump above $386 an ounce, gold fell back and closed at $375 an ounce, off $2 from Wednesday, according to Republic National Bank. On New York's Com- modity Exchange Inc., gold futures for September delivery closed at $372 an ounce, off $3.70. New York dealers said a heavy selling wave late in the day cut the earlier gains. "Everybody started selling off," said one gold trader, who asked to remain unidentified. "It's that kind of market. Once one guy starts selling off, everybody follows." between 9am & 9pm for your appointment n n n n A A INTRODUCING THE PROFESSIONAL HP-41C. - Daily Official Bulletin FRIDAY, SEPTEMBER 21, 1979 Daily Calendar: Guild House: Soup and sandwich, 75ยข luncheon, Steven Bhaerman, Writer and Teacher of Writers, "Breaking Through Writing Blocks," 802 Monro , noon. Philosophy: Frederick I. Dretske, "Meaning anl Information," 2 MLB, 4 p.m. THE MICHIGAN DAILY (USPS 344-900) Volume LXXXX, No. 14 Friday, September 21, 1979 is edited and managed by students at the University of Michigan. Published daily Tuesday through Sunday mornings during the University year at 420 Maynard Street, Ann Arbor, Michigan 48109. Subscription rates: $12 Septem- ber through April (2 semesters);$13 *y mail outside Ann Arbor. Summer session published Tuesday through Saturday mornings. Subscription rates: $6.50 in Ann Arbor; $7.00 by mail out- side Ann Arbor. Second class postage paid at Ann Arbor, Michigan. POST- MASTER: Send address changes to THE MICHIGAN DAILY, 420 Maynard Street, Ann Arbor, MI 48109. ROSH HASHANAH SERVICES ORTHODOX SEPT. 21 SEPT. 22 SEPT. 23 7:15 p.m. 9:00 a.m. 9:00a.m. CONSERVATIVE SEPT. 21 SEPT. 22 SEPT. 23 7:45 a.m. 9:00 a.m. 9:00 a.m. REFORM SEPT. 21 SEPT. 22 8.0 nDm. 10.00am. A CALCULATOR.A SYSTEM.AWHOLE NEW ST Pulsating pulsars! The new HP-41C has more than any handheld pro- grammable Hewlett-Packard has ever offered. More capability, flexibility, easy-to-use features and options: Plug-in Memory Modules-for storing programs and data; and "extra smart" Card Reader; a Printer; The Wand-a new input device; and Application Modules -preprogrammed solutions to all kinds of problems. The HP-41C is a system Great galaxies! 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