Need to develop U. S. alternate energy sources

The energy problem has no easy, cheap solutions; and no single energy source can solve our long-term energy needs. We must keep our options open and prove out a number of alternate energy technologies. Synthetic fuels from coal, oil shale, and tar sands offer the most promise to provide us with an alternate source of hydrocarbon liquids and gases. Taking into account the uncertainties involved in estimating capital costs and in preparing economic appraisals, no significant economic advantage can be seen for any of these alternate energy sources. Each synfuel project must be evaluated on its own merits, and the overriding factors will be financial considerations and the quality and location of the specific resource to be developed. In summary, our analysis shows that it is obvious that synfuels cannot compete with current prices of oil; and we are in need of a rational and equitable energy program, one which can give energy companies the proper incentives to allow orderly development of alternate forms of energy. The bottom line is to diversify our energy reserve base by developing and demonstrating these synfuel projects for our future, as well as for future generations to come.