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A Closer Look (Oil: Supply and Demand) #191089

ABC Evening News for Thursday, Mar 16, 2000
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(Studio: Charles Gibson) A closer look at oil and gasoline prices introduced.

(New York: Deborah Amos) The reasons why the domestic supply of oil cannot be increased to meet the demand and thus keep prices level examined; details given of the devastation to the domestic oil industry in 1986 and 1990s. [Oil producer Dan WALLACE - cites his recent loses.] [Oil industry consultant Philip VERLENGER - says oil workers have gone elsewhere.] [American Petroleum Institute Red CAVANEY - assesses oil prices.]

(Studio: Charles Gibson) Report introduced.

(No location given: Kevin Newman) One scientist's theory about the origins of oil and gas examined. [Astrophysicist Thomas GOLD - talks about his role as a heretic; says enormous quantities of oil and gas exist on earth.] [Caltech planetary scientist David STEVENSON, Worldwatch Institute senior vice president Christopher FLAVIN - downplay Gold's idea of bottomless oil reserves.] [Seven Seas Petroleum, Incorporated, CEO Robert HEFNER - explains how gas "migrated" into his reservoirs.]

Amos, Deborah;
Gibson, Charles;
Newman, Kevin

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