Executive Order 12346

By the authority vested in me as President by Section 305(k) of the Defense Production Act of 1950, as amended (50 U.S.C. App. 2095(k)), and having determined that the United States Synthetic Fuels Corporation is established and fully operational consistent with the provisions of the United States Synthetic Fuels Corporation Act of 1980 (Public Law 96-294; 94 Stat. 633 et seq.), and to provide for an orderly transition of synthetic fuel responsibilities from the Department of Energy to the United States Synthetic Fuels Corporation, it is hereby ordered as follows:

Section 1. No new awards for purchases or commitments for financial assistance shall be made under the provisions of Section 305 of the Defense Production Act of 1950, as amended.

Sec. 2. Synthetic fuels projects or actions initiated by the Department of Energy shall, to the extent provided in the Supplemental Appropriations and Rescissions Act, 1980 (Public Law 96-304; 94 Stat. 880-881), transfer to the Corporation upon a majority vote of the Board of Directors of the Corporation, and unexpended balances of the funds obligated for such projects shall be transferred to the Corporation to the extent such projects are transferred to the Corporation.

Sec. 3. The balance of the amounts not committed or not conditionally committed by the Department of Energy which were appropriated by Public Law 96-304 and Public Law 96-126 from the Energy Security Reserve to the Department of Energy are available as provided in the Supplemental Appropriations and Rescissions Act, 1981 (Public Law 97-12; 95 Stat. 48), to carry out the provisions of Title I of the Energy Security Act (Public Law 96-294; 94 Stat. 616 et seq.).

Sec. 4. Executive Order No. 12242 of September 30, 1980 is revoked.

Sec. 5. Notwithstanding the revocation of Executive Order No. 12242, the provisions of that Order shall continue in full force and effect with respect to any loan guarantee issued under the provisions of that Order.

RONALD REAGAN
The White House,
February 8, 1982.

[Filed with the Office of the Federal Register, 10:56 a.m., February 9, 1982]
Note: The text of the Executive order was released by the Office of the Press Secretary on February 9.