ENERGY SECRETARY SEES HIGHER OIL PRICES
  Energy Secretary Donald Hodel said he
  expects oil prices to rise significantly by the year 2000,
  probably to around 33 dlrs a barrel in current dollars.
      "I do anticipate a significant increase (by 2000).
  Thirty-three dlrs a barrel is not unreasonable," Hodel told the
  Senate Energy Committee.
      Hodel said the loss of some domestic oil production through
  the shutdown of stripper (10 barrels a day or less) wells
  because of low prices was probably permanent. He said he was
  also concerned by the decline in domestic oil exploration.
      Hodel urged Congress to approve oil exploration in section
  1002 of the Arctic National Wildlife Refuge in Alaska. He said
  geologic condtions in the area were favorable for the discovery
  of oil fields equal to those in nearby Prudhoe Bay.
      "The area could contain potentially recoverable oil
  resources of more than 9.2 billion barrels, an amount nearly
  equal to the Prudhoe Bay oil field, which currently provides
  almost one-fifth of U.S. domestic production," Hodel said.
      He said production from the new section could begin about
  the time Prudhoe Bay production begins to decline in 2000
  without endangering caribou or other wildlife in the area.
  

