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High Cost of Cheap Oil (Part IV) #102162

ABC Evening News for Thursday, Apr 24, 1986
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(Studio: Peter Jennings) Report introduced.

(DC: Charles Gibson) United States dependence on overseas oil and potential for recurrence of 1970s oil crisis here examined. [November 7, 1973, Richard NIXON - promises Project Independence will free United States from foreign oil mkts.] [April 18, 1977, Jimmy CARTER - considers situation the moral equivalent of war.] Background to current oil price slump and implications for United States oil producers and consumers explained. [Former Energy Secretary James SCHLESINGER - feels United States is headed for greater dependence on OPEC.] [Senator Jim McCLURE - agrees.] [April 9, President REAGAN - favors free market controlling situation rather than government regulation.] Recommendations outlined on screen, discussed. [McCLURE, SCHLESINGER - comment on United States oscillation between panic and complacency.]

Reporter(s):
Gibson, Charles;
Jennings, Peter
Duration:
00:03:50

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