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Oil Hearings / Sens., Oil Execs. #230935

CBS Evening News for Tuesday, Jan 22, 1974
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(Studio) Senate subcommittee conts. oil hearings.
REPORTER: Walter Cronkite

(DC) Oil company execs. deny making windfall profits from fuel shortage. [Gulf president Z.D. BONNER - estimates taxes paid by Gulf for 1 year] [Senator Charles PERCY - asks if Gulf Oil can justify amount to American people.] [BONNER insists oil company must pay taxes in each country with Gulf operation.] [PERCY - thinks oil companies suffer credibility problems.] [Chairperson Senator Fin. Committee Senator Russell LONG - sympathizes with industry somewhat. Doesn't think stopping all profits of oil companies will solve energy crisis.] Senator ldrs hope to vote on energy emergency bill this week Bill stalled by windfall profits controversy.
REPORTER: Nelson Benton

Benton, Nelson;
Cronkite, Walter

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