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Energy Crisis, Part3 #225450

CBS Evening News for Friday, Jan 26, 1973
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(Studio) In 3rd report on energy crisis, role of oil industry examined.
REPORTER: Walter Cronkite

(No location given) 25 major oil companies exist. Oil companies control 72% cntry.'s natural gas, 50% coal, 80% uranium, 84% refining capacity. [Congress Neal SMITH - says anticompetitive effect results from organization oil companies] Oil companies have always had close relationship with DC. Men from oil states, such as Robert Kerr from OK, Sam Rayburn and L.B. Johnson from Texas, have represented oil interests in Congress Claude Brinegar, Trans. Secretary designate, comes from Union Oil. Oil men are in sensitive positions in Interior Department Dep. undersecretary Interior in charge of energy policy used to work for Humble Oil. Last 4 directors Office Oil and Gas came from industry and returned to it. Interior Secretary Rogers Morton tells reporter Robert Schakne this is not a bad thing. [MORTON - says to deal with technical problems must have technically qualified people.] [Ford Foundation's South David FREEMAN - says oil companies have had monopoly in influencing United States energy policy.]
REPORTER: Walter Cronkite

(DC) Oil invests more in American politics than any other industry. Oil companies have highly favorable tax arrangements with government Oil companies having investments in Mideast influence United States policy there.
REPORTER: Dan Rather

(Studio) In 4th report CBS will look at policies successfully promoted by oil interests and how these policies have contributed to energy crisis.
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Rather, Dan
Duration:
00:05:40

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