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Since 1968 the United States has produced more gas than it discovered. This trend will continue as more heavy industry turns to natural gas and away from other fossil fuels in efforts to stem air pollution. New and proved reserves in Alaska are far from the marketing stage. The decline in drilling, to a 28-year low in April 1970, has been the result of 17 years of unnatural price ceilings on natural gas and, more recently, of the reduction in 1969 in the depletion allowance. However, current pricing trends by the Federal Power Commission, and incentives by pipeline companies and funds, now make deep wildcatting in the Anadarko basin and elsewhere very attractive.
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