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Arab Oil Embargo #233380

CBS Evening News for Thursday, Mar 14, 1974
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(Studio) Rptdly., Arab oil embargo against United States lifted, but no official word released from Arab oil producers' meeting in Libya. Syria lashes out at other Arab nations favoring ending embargo. Heavy artillery duel occurs between Syria and Israel on Golan Heights; settlement on Heights seems to be prerequisite for lifting embargo. Washington, DC reluctant to comment on embargo.
REPORTER: Walter Cronkite

(DC) Govt. fears Arabs may reinstate embargo if United States rushes announcement of boycott lift. [Secretary of State Henry KISSINGER - has no official word of embargo's end.] [FEO head William SIMON - refrains from forecasting on embargo's end. Hopes embargo will be lifted.] FEO deputy director John Sawhill says boycott's end to reduce oil and gas shortages in coming mos.
REPORTER: Nelson Benton

(Studio) Experts in oil industry say embargo lift won't end energy shortage troubles.
REPORTER: Walter Cronkite

(NYC) United States refineries produce less than consumers demand. [Oil economist Walter LEVY - believes United States faces tight gasoline supply situation.] [Exxon Corporation chairperson of board J.K. JAMIESON - thinks critical situation likely to development with gasoline supplies.] Experts fear future embargoes [LEVY - says US can't afford to be dependant on foreign sources of fuel.]
REPORTER: Sylvia Chase

Reporter(s):
Benton, Nelson;
Chase, Sylvia;
Cronkite, Walter
Duration:
00:04:50

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