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Energy Crisis, Part 5 #227242

CBS Evening News for Friday, Feb 02, 1973
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(Studio) Plenty of fuel exists underground, but oil companies not using these resources to full extent possible. Govt. policy adds to fuel shortage. Environment is new concern which hampers oil exploration.
REPORTER: Walter Cronkite

(No location given) 1969 Santa Barbara Union Oil spill dumped 235,000 gals. oil into ocean. Damage to wildlife, marine life and beaches extensive. Chevron spill in Gulf of Mexico followed next year Result was moratorium on new drilling while experts studied problem. [Continental Oil. chairperson John McLEAN - says environmental concerns make drilling more difficult.] [Environmentalist attorney Tom STOEL - says must balance fuel needs with ecological caution.] Environmentalists differ among themselves on what precautions necessary for safe drilling and refining. [Former White House energy adviser David FREEMAN - says society paying price for energy taken from earth without regard for environment. Cites Appalachia.]
REPORTER: Robert Schakne

(Studio) In future, new technology must be applied to developing more and better energy sources. National energy policy is needed. Oil companies study of energy crisis advocates higher prices for fuel and better oil depletion allowances. Industry critics say to end import quotas, change tax laws to encourage domestic drilling, increase competition by helping small companies
REPORTER: Walter Cronkite

(No location given) [Former Federal Power Commission chairperson Lee WHITE - says government needs new role in energy development.]
REPORTER: Robert Schakne

(Studio) Energy problems complex.
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Schakne, Robert
Duration:
00:08:30

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