Dim Sum
Lunch
Special
$3°°
AND M)K dinner
Kuay-Teow
MANY OTHER CHOICES 5qZ5
CHINA BLUE Restaurant
Upstairs. Nest to U ol () Bookstore
879 K. 13th • 343*2832
Free
Water Bottle with a $10.00 purchase
I per customer, please
**5.00 OFF any modal KRYPTONITE LOCK
Offer empires October 13.1990
* Save Big on Mongoose Mountain
Bikes — from $322-$705
NATIONAL
I Bush will diD into U.S. oil reserves
CHICAGO (AP) — President Hush, arguing
there is "no justification" for speculation that has
driven up the price of oil and gasoline, said
Wednesday he would sell 5 million liarrels of
crude oil from the Strategic Petroleum Reserve.
The White House said the Hush decision
would send a signal to those who would take ad
vantage of the Persian Gulf < risis to profit from
skyrocketing oil prices.
Tapping the reserve, a move urged by indus
try analysts and some members of Congress since
Iraq's Aug. 2 invasion of Kuwait, was aimed at
driving down the price of < rude on world mar
kets.
The president is turning to the S90-mil!ion
barrel reserve to stabilize the oil market for the
first time since it was created in 1075. Oil was
briefly pumped from the reserve in 1985 to test
the physical and bureaucratic systems for moving
it.
The price of crude oil has edged toward $40
a barrel this week, nearly twice the level when
Iraq’s occupation of Kuwait touched off the cur
rent oil crisis
Ed Kevelson, a Dean Witter Reynolds Inc.
trader who deals in oil futures on the New York
Mercantile Exchange, said selling the reserve oil
could have a quick effect. "We should be consid
erably lower," he said. "You've certainly got that
possibility for a big move to the downside."
Hush, in Chicago for a Republican Party
fund-raiser, said in prepared remarks, "it's espe
cially important that America is economically
healthy and militarily strong
"At home and abroad, let me caution those
who might take advantage of the current^crisis ^n
0P>'
market is very tight, with little spare capacity,
there is sufficient oil to meet current needs."
Bush said that oil markets had not taken into
account additional production from Saudi Arabia
and other sources nor the availability of existing
stocks.
Congress authorized the 5-million-barrel test
sale two weeks ago. over the administration's op
position. in a hill extending Bush's authority to
tap the reserve. That authority would have ex
pired Sept. 15 had he not signed the bill that day
"We've been suggesting this to him," said
Rep. John Dingell. D-Mich., chairman of the
House Energy and Commerce Committee, who
called Bush's action a good first step.
But Dingell said the administration needs to
follow it up by calling on West C.ermany and Ja
pan — possibly at a meeting Friday of the 21-na
tion International Energy Agency in Paris — to
also tap stockpiles.
Senate Republican leader Bob Dole, who
more than a month ago called on Bush to tap the
reserve, also welcomed Bush's decision.
"The taxpayers have been paying for the oil
reserve for years, and they have every right to ex
pect that it be put to good use in the face of an en
ergy crunch."
The 14-year buildup of the reserve has cost
an estimated $20 billion.
Industry experts have estimated that produc
tion in other countries has restored about two
thirds of the 4 8 million barrels of oil removed
daily from world markets by Iraq’s takeover of
Kuwait and the world embargo against lraqi-Ku
waiti oil.
Aa recently aa a week ago Bush, who spent
’ll
ff you want to meet
all your banking needs. \
enroll at Weserve l
First Interstate Bank of
Oregon. We have a s|X‘eial
package designer! to help students
make it through those trving college
Rodent U**®
can Ix-tter manage
your expenses.
Student Loans.
If paying for school is a con
cern, we can help you with a
student loan. Student loans allow
you to borrow money for college and not
Kprs-the Student Lino Account It has all the
products and services you need:
Checking Account with no minimum
balance. Write up to 12 checks a month tor one low
monthly fee. And cash your personal checks at over
1,100 First Interstate offices in 21 states.
First Interstate Hancarri. (let up to $300 cash
every day at Day & Night Tellers* throughout First
Interstate territory—and at .to.ooo CIRRI S* auto
mated tellers across the l '.S, and Canada.
VISA* eligibility. Even if you have no credit his
tory. you may still qualify for a student VISA? so you
tx>nn paying it back until alter you graduate.
So for all your banking needs—from a checking ac
count toa student loan—graduate to First Interstate Bank.
O First
Interstate
Bank
We go the extra mile for you!
MenotvFDC
riot
. IDS ANC&E9 (AP) - The X
rating was eliminated Wednes
day by the Motion Picture Aa»
social ion of America in favor of
M mw NO 17 rating that ban
but does not carry the
iflfthaX,
had become synonymous with
hard-core pornography, and
served no purpose in evaluat
ing artistic films best suited for
adults.
The R rating, which bars un
accompanied minors from cer
tain films, remains intact, as
does the PC.-13, PCI and (I rat
ings.
"It's a great step," said Phil
ip Kaufman, director of the X
rated Universal Pictures film
"Henry & June. " The historical
drama, which features some ex
plicit sex. was set for a ratings
appeal next week and will be
the first recipient of the new
NCI rating, which will bar chil
dren under age 17.
“I’m just really delighted
that we can show this film un
cut in America and show the
film the way I made It." Kauf
man said. "It is not intended as
a prurient film."
The old X rating meant no
children under 17 allowed, but
states had the option to set a
higher age cut-off. Under NCI
17. states also will have that
option, says William Kartozian.
president of the National Asso
ciation of Theater Owners.
► Looking for a good door?
Chock tho Emorafd ADS