Energy Security Corporation and Synthetic Fuels Program White House Statement on Senate Action on Legislation.

The President this afternoon expressed his pleasure at the Senate's actions in approving the initiation of a strong synthetic fuels program and the establishment of an energy security corporation.

"While there is much more work to be done and further action in the House to be completed," the President said, "the Senate's actions ensure that there will be a strong synthetic fuels program and a significant institution to carry it out. I congratulate Chairman Jackson, Senator Johnston, and Senator Domenici for their able and dedicated work.

"The critical conservation and gasohol titles of the Senate Energy Committee bill remain to be passed, and the administration will continue its close cooperation with congressional leaders in support of this important legislation. The uncertain nature of our energy supplies does not need to be reemphasized; but today's action, together with the continued steady progress of the energy mobilization board and the windfall profits tax, is a step toward regaining control of our Nation's future."