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From the Director

Although progress has been made, current economic conditions and aftershocks from the “Great Recession of 2008” continue to impede the full recovery of the ACS Petroleum Research Fund. As stated in previous Director’s Messages, year-end Fund values must be greater than $500 million for three consecutive years in order to achieve full financial recovery. At $441 million, the year-end value for 2011 did not achieve this target. However, we continue to work to maximize support of “advanced scientific education and fundamental research in the petroleum field.”   Full message from the director...