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Oil Prices and the Palisades

April 13, 1986

Now (that oil prices have dropped) we should . . . question the economics of drilling in Pacific Palisades. Oil prices have dropped from over $30 per barrel to less than $12. Royalties to homeowners and the supposed largess to the city would decline accordingly. Is it still worth selling our Palisades environment to the Occidental carpetbaggers?

FRANK McGINITY

Pacific Palisades

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