Page 10: of Maritime Reporter Magazine (April 1993)

Kinnear To Retire As Texaco

CEO, DeCrane To Succeed

Texaco announced that James

W. Kinnear retired as president and chief executive officer of Texaco on April 1,1993, and that the board of directors has selected Alfred C.

DeCrane, Jr., to assume the title of chief executive officer on that date.

Mr. DeCrane also will continue in the position of chairman of the board, a position which he as sumed in Janu- ary 1987.

Mr. Kinnear will step down upon reaching the company's normal re- tirement age of 65, after more than 38 years with the company and six years as president and CEO.

Meanwhile, speaking at the an- nual Institute of Petroleum Confer- ence in London, Mr. DeCrane called on the international petroleum in- dustry to intensify its cooperation with government and environmen- tal groups in developing focused, scientifically sound and cost-effec- tive approaches to solving environ- mental problems.

Mr. DeCrane urged the petro- leum industry to support a multi- faceted process for developing truly responsive international environ- mental policies. Among the steps he suggested were: 1. Working with other respon- sible parties to develop a compre- hensive and impartial body of scien- tific research on global climate change. 2. Making the industry's research

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I I 414-793-4507 I | and expertise available to assist in the design of responsive environ- mental policies. 3. Ensuring that credible studies of the economic and social impact of reduced energy consumption, of car- bon taxes, and of command and con- trol initiatives are included in the policy development process. 4. Participating directly in the policy process that involves direct communication with industry asso- ciation and governments in coun- tries where the business has a pres- ence. 5. Developing pro-active commu- nication programs to convey the industry's ongoing environmental commitment. 6. Providing technological assis- tance to developing countries through development contracts.

Mr. DeCrane did credit the in- dustry with moving aggressively to address and respond to a host of environmental concerns such as air emissions, water pollution, smog and waste disposal. Today, oil compa- nies in the U.S. alone spend ap- 12 Circle 343 on Reader Service Card

Circle 303 on Reader Service Card

Draft Discussion Version

Of Gibbons Bill

Tougher Than Original Bill

The 31-page Discussion Draft of the Gibbons Foreign Shipbuilding

Subsidy Bill, which will soon be for- mally introduced, appears certain to be a stronger version than last- year's measure.

Under the Discussion Draft, steep penalties and sanctions are called for against countries and vessels flying the flag of a nation which continues to subsidize its shipbuild- ing/ship repair industry. The paper calls for establishment of a list of subsidizing countries, which would be published in the Federal Register on at least a bi-annual basis. The country's name would remain on the list until that country signs a trade agreement with the U.S. that pro- vides for immediate elimination of shipbuilding/ship repair subsidies.

The draft bill also specifies that on the date of enactment, the Secre- tary of Transportation would ini- tiate an initial probe into the prac- tices of foreign entities which pro- vide direct or indirect shipbuilding subsidies. The public will be given an opportunity to participate by sub- mitting comments, in response to publication in the Federal Register of a notice of Administrative proce- dures for investigations.

The Secretary of Transportation is also provided with the authority to limit the sailings of a vessel flying the flag of a shipbuilding/repair sub- sidizing nation to or from the U.S., or the amount of cargo carried, by the vessels to not less than 50 per- cent of the number of sailings, or the amount of cargo carried, by the ves- sel during the immediately proceed- ing full calender year.

The Draft Discussion also allows the Secretary to impose on a vessel a fee not less than $500,000 and not more than $1 million per voyage as well as other punitive measures.

Maritime Reporter/Engineering News