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Peru-US Relations / Oil Dispute / Tuna Boats #203347

CBS Evening News for Thursday, Apr 03, 1969
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(Studio) United States envoy John Irwin consults with President Nixon following efforts to settle oil dispute with Peru. United States to apply for economy sanctions by Wednesday if stalemate not broken.
REPORTER: Walter Cronkite

(Lima, Peru) Standard Oil of New Jersey operated oil fields in Peru for 50 years, paying nominal fees and no royalties. Mil. junta took over and now Peruvians run fields. Accuse Standard Oil of letting equipment rust. Production now increased. [Engineer Jorge RIVERA - says drilling wells with "heart".] United States calls it illegal confiscation of American property. Hickenlooper Amendment calls for aid cut unless seized property paid for. [Mission priest Joseph KEARNY - says amendment wrongly ties aid with protection of US property rights.] American business thrive, but fear retaliation if amendment used. President Juan Velasco Alvarado heads junta and caused decline of US-Peru relations Peru harasses American tuna boats, accusing them of piracy. Compromise remote because Peru asks for high back taxes for oil.
REPORTER: Robert Schakne

(Studio) Senator Karl Mundt feels sanctions mandatory. Defends amendment and thinks Peru will talk.
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Schakne, Robert
Duration:
00:06:00

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