Arizona Republic from Phoenix, Arizona • Page 21

REPUBLIC MAIL 1 The Arizona Republic Dunapin by Dunapin Despite Ford regulations iSaudis reach deal fim total takeover gigantic oil firm Congress will continue food-stamp Associated Press DHARAN, Saudi Arabia Yamani said in an inter Four major U.S. oil companies have reached an agreement with the Saudi government on a complete Saudi takeover of the Arabian American Oil Co. (ARAMCO) the world's largest oil-produc- ing company. Saudi Oil view that although a few minor points still must be' worked out, a takeover date retroactive to Jan. 1 had been agreed upon.

That date was confirmed by the board chairman of ARAMCO, Prank Jungers. Jungers said the final agreement would include a guarantee of prices and Associated Press WASHINGTON -President Ford's plan to Issue new regulations (or the food stamp program won't influence congressional efforts to revamp the system, Senate Majority Leader Mike Mansfield, said Saturday. Mansfield said Ford is onSngesi" wWZ announcement. "But its' nothing to get excited about," Mansfield said. "We don't Intend to be diverted or pushed or panicked." Ford announced Friday I fvcil Neic process IZlS reported tor "III Af OUt THINS Rfc MY HE.S HONEST.

ME CANNOT Bt BCUbHT. EVttt AT THrS VJEEKt HI6H PBCi FOR TURKEYS." sieei Committee was just days short of voting on a final proposal combining Ford's ideas and four other reform measures, his move was considered by some to be political. Mansfield said he expected the committee to act this week on food stamp legislation. Ford had sent Congress a bill designed to reduce food stamp spending by $1.2 billion. Mansfield predicted that the finished congressional product would save taxpayers more money than any actions that Ford might take.

AFL says urged Congress to adopt a program first proposed a year ago. The labor federation wants an expanded public-service jobs program, extended, income-tax cuts, aid to housing, lower interest rates to spur construction, an increase in the minimum wage from 12.30 to $3, and overhaul of the unemployment insurance system. Liberal Democrats and moderate Republicans were angered by Ford's plan. Some noted that 8'i months had elapsed between the Senate request for his proposal and the time the White House produced a draft bill last March 30. Because the Senate Agriculture and Forestry for 4 centuries It has survived for four centuries by accommodations with Chinese rulers.

Of its almost 300,000 residents, only about 8,000 are nofrChinesc. cut jobs? income security and aid to state and local govern-, merits will lead to rising unemployment and the possibility of a deeper recession, the AFL-CIO said. The council noted that most of the cuts are primed to take place after November presidential election. To lift the economy to "full employment, full production and balanced growth," the AFL-CIO A RLOTTESVILLE, Ford policy would hike inflation and "Despite modest improvements since last spring, the American economy remains in weakened condition, with a vast amount of slack after the longest and deepest recessionary decline in 40 years," the AFL-CIO said. "Thus, the economy is vulnerable to possible adverse effects at home or abroad." The statement by the AFL-CIO executive coun Associated Press MIAMI BEACH, Fla.

-The AFL-CIO said Saturday that President Ford's "go-slow" economy policy is a prescription for post- election increases In unemployment and inflation. Disputing White House forecasts of sustained economic recovery, the labor federation said none of the nation's basic economic problems has been solved. Va. (AP) Scientists at University of Virginia Tay they have produced a type, of steel stronger any other metal or 'alloy. Dr.

Heinz G. F. Wils-dorf, chairman of the materials science depart- ment, described the new 'steel as "the most significant and exciting development in metallurgy" during the 12 years he has been at the university. The new steel is made -by decomposing gas molecules on Zi heated surface, bonding 'together minute, but ex- eeedingly strong, iron "Jfllaments. It differs from "the melting and casting 'operations used now.

The process of forming filaments was piq- iteered by German inven-lor H. J. Schladitz of Munich, who shared 30 of research with the university. Wilsdorf said the filaments are twice as strong as any commercially available steal or alloy. He said one of its most promising uses would be in engines or spacecraft.

Minister Ahmed Zaki avauaoimy 01 aauai oil Jot the four American availability of Saudi oil of California, Exxon, Texaco and Mobil. In addition, he said, there will be a cash value settlement. The takeover will include ARAMCO's producing oil fields and one of the world's four largest refineries, Ras Tanura, with a capacity of 500,000 barrels a day. A A 's multi-million dollar liquified petroleum gas facilities will also be taken over by the Saudis. ARAMCO's current output is 8.S9 million barrels a day.

Its capacity is 12 million barrels a day. ARAMCO was initially owned in total by Stand- ard, Exxon, Texaco and Mobil. In 1973, Saudi Arabia acquired 25 per cent. A year later, it raised its share to 60 per cent. Yamani said of the takeover negotiations, "We need one meeting to finalize all pending issues.

Then we will write the agreement in its final form." He indicated that the agreement could be signed in the next month or two. Yamani met in London last December with representatives of the four oil companies. ARAMCO's current production represents 97 per cent of Saudi Arabia's total production, and makes that nation the world's largest oil producer, after the Soviet Union and the United States. Saudi Arabia, however, is the No. 1 oil exporter.

Its reserves are estimated at 179 billion barrels, one-fourth of the non-Communist world's proven reserves. ARAMCO employs 19,500 persons, 75 per cent of whom are Saudis. It has 1.600 Americans working in management and operations. .4 A-21 February 22, 1171 reforms Sen. Robert Dole, sponsor of a plan that would allow more people to receive stamps than Ford's reform proposal, said, "There's a certain amount of politics involved in food stamp reform, and I think the President would like to get in on some of the action." In a telegram, Dole asked Ford to set up a meeting with congressional leaders.

The Food Research Action Council said it would seek an Injunction to halt the Ford plan. The recession mushroomed food stamp rolls from 13 million to 19.1 million in 1975. Some 18.6 million persons are now enrolled. The administration bill under consideration would cut four million to five million persons from food stamp rolls, saving $1.2 billion. It would limit the program to those whose income falls below a proverty level set by the government.

The bill would make ineligible many near-poor working families who have been eligible under current regulations. give you: from wrinkles. that he would issue regulations aimed at streamlining the S3.S billion food stamp program. "We can no longer afford to wait" for Congress to act, he said. "He can do what he down there and we'll do what we wanted to do all along up here," Mansfield told reporters.

Macao survives MACAO (AP) Macao is the West's oldest trading post on the China coast. It is smaller than the area of Kennedy Airport, and belongs to Portugal. ate at less than three-fourths of capacity. The statement also said many banks and companies, as well as state and local governments, are financially strained, and the nation is more de- pendent on Arab oil than ever before. Ford's budget for the next fiscal year proposing cuts in such programs as employment, education, health care, 1976 iK.

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