Search the Archive

Oil Cos. / Income Tax / Prices #232511

CBS Evening News for Monday, Dec 02, 1974
View other clips in this broadcast →

Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.

(Studio) Senator Henry Jackson charges 7 oil companies pay income tax at lower % than av. citizen. Oil companies say Jackson's charges wrong and unfair. Brookings Institution report states oil companies are resisting development of offshore oil and gas reserves to help drive up prices.
REPORTER: Walter Cronkite

(New Orleans, Louisiana) Half of oil wells and natural gas in Gulf of Mexico capped. [Rutgers Univ. economist Paul DAVIDSON - believes price controls cause some gas and oil wells to be withheld.] [Federal Power Commission David SCHWARTZ - thinks industry hoping for deregulated prices to increase price on market] Details of report outlined. Execs. of big oil companies, explain reasons for capping wells. [President California division Chevron Oil Company, L.C. SOILEAU III - states wells aren't capped to make big profits on price increases]
REPORTER: Robert Schakne

Cronkite, Walter;
Schakne, Robert

Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.

Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:

  • You may request a loan of this video by registering on our website and placing an order.
  • You may visit the Television News Archive on the Vanderbilt campus to view on-site from the Archive's collection.
  • If you are associated with a college or university, you may ask your library if they would like to become a sponsor, which would give students and faculty at your institution the ability to view items from our collection.

If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.