Search the Archive

Oil Prices / Gasoline #241168

CBS Evening News for Thursday, Jul 24, 1975
View other clips in this broadcast →

Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.

(S)Congress and administration try to compromise with regard to oil prices. President Ford offers to extend time for phase-out of "old" oil to 4 years Democrat demand windfall profits tax and rebate to consumers. Gasoline prices will climb.
REPORTER: Walter Cronkite

(New York) Gasoline prices up 48% since oil embargo. Chart shows who gets extra profits. Producers of crude oil make most profits. Exxon profits up 139% from 1970 to 1974; $1.3 billion to $3.1 billion. Texaco profits up 93%; $822 million to $1.5 billion. Mobil up 117%; $483 million to $1 billion. Profits dropped 30-40% so far this year Profits still 50% above pre-boycott day profits. Oil companies say profits not large enough for investment.
REPORTER: Robert Schakne

Cronkite, Walter;
Schakne, Robert

Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.

Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:

  • You may request a loan of this video by registering on our website and placing an order.
  • You may visit the Television News Archive on the Vanderbilt campus to view on-site from the Archive's collection.
  • If you are associated with a college or university, you may ask your library if they would like to become a sponsor, which would give students and faculty at your institution the ability to view items from our collection.

If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.