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Defense Department Oil Reserves / Senate Commerce Committee #24106

ABC Evening News for Friday, Dec 14, 1973
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(Studio) Senate Commerce Committee to begin hearings with regard to opening of Defense Department oil reserves. Hearing may reveal scandal.
REPORTER: Howard K. Smith

(DC) Conf. investigators uncover collusion involving 2 of Navy's petroleum reserves. In California, private firms drill wells against boundaries of Elk Hills reserves, which may be much-depleted by private wells drawing Elk Hills' oil. In AK, deputy Secretary Defense William Clements, Junior urges private firms to development oil reserve in question. Clements still owns stock in private drilling firm in AK, and Clements' son is firm's president
REPORTER: David Schoumacher

Schoumacher, David;
Smith, Howard K.

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