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(Studio) Senator rejects compromise energy bill to roll back domestic oil prices and raise those of natural gas. Proposal to break up big oil companies' control of industry rejected 54-55. Both amendments to Emergency Natural Gas Bill designed to ease severe shortage this winter. Report on potential new gas field.
REPORTER: Walter Cronkite
(Texas) Petroleum company bought up leases with mineral rights to land in large area, incling. Zapata and Laredo. Laredo still has unpaved roads and 19% unemployment. [Mayor J.C. MARTIN - says find could mean biggest economy boost since early `29s. Already brought 2500 new jobs in and a lot of new money.] [Natural gas producer Antonio SANCHEZ - says nobody will sell gas on interstate market due to price.] Real economy prosperity hoped for.
REPORTER: David Dick
- Cronkite, Walter;
- Dick, David
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