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Iran-Iraq War / Oil #110729

ABC Evening News for Monday, Aug 10, 1987
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(Studio: Peter Jennings) Iraqi attacks on Iranian oil fields reported

(DC: Sheilah Kast) Iran-Iraq war's importance to West world due to intl. petroleum needs examined; details given, scenes shown. Extent of world's noncommunist oil reserves held by Iraq, Kuwait, Iran, Saudi Arabia and Abu Dhabi cited. [Petroleum Ind. Research Fndn. spokesperson Lawrence GOLDSTEIN - notes amount of free world oil consumption moving through Strait of Hormuz.] Amt. of Persian Gulf oil received by United States compared to that destined for other cntrys. [Representative Larry SMITH - thinks French and British govts. are smart enough to let United States do their work despite disparity between oil received by United States and Europe.] [Energy analyst Edward KRAPELS - explains world economy competition involved.] Alternatives to gulf shipping considered. [Energy Secretary John HERRINGTON - explains United States policy in anticipation of oil disruption.] [GOLDSTEIN - believes United States consumers will experience higher prices rather than shortage.]

Jennings, Peter;
Kast, Sheilah

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