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Petrodollars #236255

CBS Evening News for Thursday, Sep 19, 1974
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(Studio) Following report takes look at oil-producing countries and how they use "petro-dollars."
REPORTER: Roger Mudd

(NYC) Oil-producing countries investing heavily in United States real estate. [David ROCKEFELLER - says Arab wealth signifies shift in money and power in world.] World's wealth shifts because of skyrocketing oil prices. 1st impact of petrodollars on world came this summer; details given. [ROCKEFELLER - says problem comes in recycling petrodollars back into world economy Discusses problems that could increase if money not recycled.] Oil-producing cntrys. can't use all petrodollars on own economy [Lebanese banker Roger TAMRAZ - says United States justified in being jumpy with regard to Arab use of petrodollars.] Officials wonder if Arab cntrys. could possibly buy up American industry including defense industry United States reaction to petrodollar problem outlined. [Secretary Treasury William SIMON - believes petrodollar problem not as serious as believed.]
REPORTER: Robert Schakne

Mudd, Roger;
Schakne, Robert

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