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New Oil Source Search #233451

CBS Evening News for Tuesday, Mar 19, 1974
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(Studio) Since oil embargo lifted, search for new oil sources won't be discontinued
REPORTER: Walter Cronkite

(Midland, Texas) Old oil hands predict boom times again; oil rigs move into area daily. [Independent oil operator Max CHRISTENSEN - believes oil boom to affect economy favorably, but unknown if oil man to get rich.] Midland economy expects to boom. Element of uncertainty surrounds rejuvenated search for black gold. [Adobe Oil Corporation president B.J. "Joe" PEVEHOUSE - says consumer must learn to live with 50c. gallon gasoline.] Questioned about possible government interference. [PEVEHOUSE - admits oil companies would have to learn to live with it, but economy to suffer.]
REPORTER: David Dick

Reporter(s):
Cronkite, Walter;
Dick, David
Duration:
00:03:40

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