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EMD-79-B3 1 (1979-09-05)

handle is hein.gao/gaobaazqa0001 and id is 1 raw text is: WASHNGTO. ..£LM110281i I COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON. D.C. 20548 B-178726 SEP 5 1979 The Honorable Harley 0. Staggers Chairman, Committee on Interstate and Foreign Commerce House of Representatives Dear Mr. Chairman: This letter provides ourjgomments on H.R. 3671,, 96th Congress , the Energy Development and Management Authority Act, wrich would create a Government corporation to estab- lish and administer a national program for the exploration and development of energy mineral deposits. As with the President's proposals and other bills now before Congress,- - this bill-proposes to accelerate the-de-velopment of domestic energy sources, particularly synthetic fuels, through the formation of a Government corporation. Attached for your information is a copy of our letter to the Chairman, Sub- committee on Synthetic Fuels, Committee on the Budget, United States Senate which discusses this subject. As agreed with your staff we first summarize our comments on the need for a synthetic fuels effort and a separate organization to en- courage that development. NEED FOR SYNTHETIC FUELS While there is clearly a significant long-term energy problem, the most immediate and possibly most serious aspect of that problem involves liquid fuel. Furthermore, the exper- ience of the past 6 years, while encouraging in some respects, has not reduced our vulnerability to intolerable oil price increases and supply disruptions. Our work in the energy area leads us to believe that the United States will never be able to produce conventional oil in anything like the quantities needed to substantially insulate ourselves from the OPEC-dominated world oil market. For that reason, alternatives to imported oil and synfuels should play a part in the national energy strategy. i206 711 lli ~ EMD-79-B3 /110281

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