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Offshore Oil Production Hearings #238541

CBS Evening News for Tuesday, Feb 11, 1975
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(Studio) President wants to decrease United States dependence on foreign oil by incring. offshore production. Int. Department holds hearings and listens to protests from E. states on offshore exploration.
REPORTER: Walter Cronkite

(Trenton, New Jersey) Int. Department to begin year-long process of selling offshore leases to oil companies [New Jersey Governor Brendan BYRNE - says govs. of states affected by this decision to go to court] E. Coast govs. upset by plans for offshore development [BYRNE - doesn't think oil companies should be given blank check and allowed to development offshore oil any way they want; thinks state or federal government should have continuing role.] [Exxon senior Vice President John LOFTIS - says if government gets into oil exploration, incentive for oil companies gone.] Dvt. of offshore oil appears to be long way off.
REPORTER: Robert Schakne

Reporter(s):
Cronkite, Walter;
Schakne, Robert
Duration:
00:02:30

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