As someone who just spent a bunch of time fixing a very similar problem in a '94 XLT, I'd thought I'd let you know what I learned through the school of hard knocks.
First the background:
The fuel pump provides fuel under pressure to the engine. Therefore, the pump must run whenever the engine is running. When you turn the key on, but not to the crank position, you should hear the fuel pump whirr for about 1 second and then shut off. This allows the fuel pump to pre-pressurize the fuel system. If you're not hearing this whirring sound, put someone on the ground under the tank and try it again. If the pump isn't coming on, you have one of two problems: lack of electricity to the pump, or a pump failure. Since the fuel pump is located inside the fuel tank, an electrical problem is MUCH easier to fix than a pump failure, so make sure to eliminate the electrical possibilities first.
Power for the fuel pump comes from the battery, through the fuel pump fuse, and is controlled by the the EEC relay, the fuel pump relay and the inertia cutoff switch. (The EEC is the Electronic Engine Controller, also called the PCM or Powertrain Control Module.) The fuel pump fuse, EEC relay and fuel pump relay are all located in the fuse box under the hood on the passenger side. The inertia cutoff switch is located inside, under the dash on the passenger side. There is a power connection for the fuel pump mounted on the driver's side frame rail right behind the fuel tank.
Electrical troubleshooting is best accomplished by working backwards. Locate the electrical connection for the fuel pump that is mounted behind the tank on the rear frame rail driver's side. Remove the connector from the frame and gently open the tabs to unhook the connector. There are four pins, two for fuel pump power, two for fuel float signal. Hold the connector so the flat side is up. Put a voltmeter on the pin at the top (next to the flat side) and the pin at the bottom. Have someone turn on the key and for a short time you should see 12 volts on the meter.
If you see 12 volts, congratulations you've got a failed fuel pump and you'll need to drop the tank and replace it. Getting the tank out is pain in the a**, putting it in isn't nearly as bad. You can find directions on this site and others, but you'll need a friend's help.
If you do not have power at the fuel pump connector, you have a failure in one or more of the components listed above or a wiring failure.
Check the inertia cutoff switch: The inertia cutoff switch is basically a steel ball and a magnet that if the car gets jarred severly (as in a collision) the fuel pump power can be cut off. This prevents the fuel pump from spraying gasoline all over the place in the event a fuel line breaks in the collision. If activated, you should be able to see a red band around the top of the switch. Push down to reset the switch, but check for fuel leaks before and after to be safe.
Check the fuel pump fuse: It's labeled as #18 and should be a 20 amp small fuse. It'll help to remove the big diode in front of it in the box to check it.
Check both relays: This is the part most people don't realize: the fuel pump relay AND the EEC relay control the fuel pump power. The relays are cheap, I'd recommend you just replace both the fuel pump and EEC relay with new ones. If you're cheap or dead on the road somewhere, you can steal the heater/blower relay for testing.
If none of the electrical components are bad, you should probably retest for power at the fuel pump. If still nothing, you'll should look for frayed/cut/shorted out wires. I read in one post that someone found a short where the inertia cutoff switch wires pass through the firewall. Good luck!
Why the "school of hard knocks" comment? I replaced the fuel pump in the tank and then discovered that it was the EEC relay. 5 hours of work and $140 versus 5 minutes of work and a $5 relay. Hmmm, which would you choose?