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Arab Oil Embargo #237219

CBS Evening News for Friday, Oct 17, 1975
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(Studio) 2 years ago today, Arab oil producers began embargo to cntrys. supporting Israel.
REPORTER: Walter Cronkite

(Newington, Virginia) $60 billion added to United States oil bill since then. Gasoline cost 39.7 cents in 1973; costs 59.8 cents now. Home heating oil did cost 25 cents/gal.; now costs 40 cents. Jet fuel on New York City to Chicago flight cost $367 in `73; now costs $906. Air fares incrd. 10% service stations closed down in 2 years Americans use 10% less oil today. Car mileage 26% better. Smaller cars sold. Domestic oil production 10% lower than `73. Latest hike to affect pumps in November
REPORTER: Nelson Benton

Benton, Nelson;
Cronkite, Walter

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