KPress Vol. 07 Iss. 24
Jaynes, Bill (2007-10-31). KPress Vol. 07 Iss. 24 (PDF) (Report). Kolonia, Pohnpei: Kaselehlie Press.
- Has attachment: File:UWH2IUIC.pdf
Abstract: KPress Vol. 07 Iss. 24: NEWS: Reporting continues on the establishment of the FSM Fuel Corporation by the FSM Congress on September 7, noting that according to Fuel Task Force members a loan package from the Bank of Guam would enable the new corporation to purchase Mobil Oil Micronesia, Inc. (MOMI) assets in the states, with the loan agreement requiring participation by all four states; Pohnpei State, through Lieutenant Governor Jack Yakana, along with representatives of all states, signed a Chief Executive Council resolution endorsing the FSM Fuel Corporation, which was transmitted to Congress and led to passage of the bill establishing the corporation, though Pohnpei State senators reportedly expressed surprise that Yakana had signed the resolution; additional news items include a promotional notice for the Scooters and Cycles of Micronesia KP 8th Anniversary scooter giveaway; a brief military profile describes one of two guns aboard the FS Prairial, a 100 mm 68 CADAM gun mounted on the forecastle capable of firing 80 rounds per minute, along with two Exocet MM38 missiles and two 20 mm guns capable of firing 600 rounds per minute; election coverage reports on candidate forums held October 25 and 26 at the College of Micronesia–FSM Pohnpei Campus nahs, where candidates for Lieutenant Governor and Governor participated in question-and-answer sessions attended largely by students from the Pohnpei Campus and Seventh-day Adventist School, as well as community members, with midday forums conducted in English and evening forums conducted in Pohnpeian; all forums were simulcast on AM 1000, the Calvary Baptist Radio Station operated by Dave Arthurs; OPINION / EDITORIAL: Mobil Oil Micronesia, Inc. President Karnal Singh, in a letter dated October 11 to Pohnpei Governor Johnny P. David, stated that while leases for MOMI facilities in Chuuk and Yap would soon expire, MOMI held a valid lease on Pohnpei facilities not due to expire for another sixteen years; the letter reiterated MOMI’s position and outlined the benefits of a proposed consolidated approach, noting that the FSM Fuel Task Force and Pohnpei State representatives met with Singh on October 6 to discuss concerns raised by Pohnpei State regarding the proposed sale of MOMI assets to the newly formed FSM Petroleum Corporation, and asserting that MOMI’s strong preference remained the sale of assets to the FSM Petroleum Corporation under negotiated terms reflecting a considered, consolidated approach to the future fuel supply for the FSM, with negotiations having been underway for approximately one year and all parties having incurred substantial costs in finalizing the agreements.
