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Oil Decontrol #241287

CBS Evening News for Thursday, Jul 31, 1975
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(Studio) House approves 303-117 6-mo. extension of current oil price controls.
REPORTER: Roger Mudd

(DC) House rejects President Ford's plan for gradual decontrol. Controls expire September 1. Representative Clarence Brown calls extension cop-out by Congress [Representative John DINGELL - says consumers to take gouging; unemployment and cost of living to rise; housing starts to decrease and auto mfrs. to be affected.] [Federal Energy Administration director Frank ZARB - says will call on Congress to pass windfall tax plan and rebate procedure. Impact on economy will be minimal with that.] Some say abrupt end of controls to cause 4-7 cent/gal. increases in few mos. and higher costs in related oil services.
REPORTER: Nelson Benton; ARTIST: Al Herr

Reporter(s):
Benton, Nelson;
Mudd, Roger
Duration:
00:02:10

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