ABC Evening News for Monday, Jan 10, 1972
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(Studio) Oil import quota system studied by Congress
REPORTER: Howard K. Smith
(Katy, Tex.) [Martin LOBEL - says system cost taxpayers and yields nothing.] Due to system, United States resources drained; limited competition causes higher prices. [Industry spokesman, Dr. Richard J. GONZALEZ - cites faults of system.] [LOBEL - says exploration for new oil sources below recommended standard.] [GONZALEZ - says gov't. won't lease off-shore land.] American Petroleum Institute established to promote US oil.
REPORTER: David Snell
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