1. A control unit for oil well pumping units of the type having a pump jack comprising an AC electric motor powering the pump jack, said AC motor having a variable speed and variable cycle to enable the pump jack to be operated at a speed to operate the down hole pump at a strokes per minute to provide a production capacity of the pump equal to the production fluid flowing from the formation, said variable cycle of the motor enabling the upstroke of the pump to be at a greater speed than the downstroke thereby eliminating pounding due to fluid columns engaged by the pump plunger during its downstroke.