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Energy / Oil Co. Profits #260722

CBS Evening News for Wednesday, Oct 24, 1979
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(Studio) 3rd quarter profits for Mobil, Sohio, Sunoco, Citgo and Marathon listed on screen.
REPORTER: Walter Cronkite

(NYC) Mobil's claim that international mkts. are responsible for large profits and challenge to that stance by British oil analyst Martin Beudell reported [BEUDELL - discusses situation.] [Energy Action Educ. Fndn. spokesperson Edwin ROTHSCHILD - comments on bookkeeping arrangement that allows oil companies to label profits international] Technically "for. profits" of companies outlined; oil co. response reported.

(Studio) House said reversing self, voting to retain price and allocation controls through September 1981 in response to oil company profits.
REPORTER: Walter Cronkite

(DC) House television tape shown; speaker Tip O'Neill quoted with regard to profits. [Representatives Herbert HARRIS, James COLLINS, Silvio CONTE - debate issue; Exxon mentioned.] Final House vote reported Pessimism with regard to overriding President Carter's program for phased out decontrol of domestic crude noted.
REPORTER: Nelson Benton

(Studio) House Appropriations Committee said approving emergency measure to assist poor with heating bills; details given. Senator Energy Committee said completing work on legislature designed to encourage energy conservation and synthetic fuel development
REPORTER: Walter Cronkite

Benton, Nelson;
Brady, Ray;
Cronkite, Walter

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