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Oil Industry / Price Hikes / Iran Prod. / United States Situation #262331

CBS Evening News for Tuesday, Feb 27, 1979
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(Studio) Kuwait noted to have added its oil price increase to others in OPEC. Possibility of this move forcing Saudi Arabia to follow suit, though Saudis have said they wouldn't, reported Effect on American consumers stated. Iran's announcement of plans to resume oil exports, but at higher rates and to more selective product rate, mentioned. Iranian revolution cited.
REPORTER: Walter Cronkite

(Ahwaz, Iran) Pre-revolutionary product at Ahwaz, Iran, described. Uncertainty with regard to policies of revolutionary government noted. Demands of oil workers from new government listed. Comments of new oil minister Hassan Nazih stated.
REPORTER: Don Kladstrup

(Studio) Secretary of State Cyrus Vance's meeting with Ayatollah Khomeini's United States representative mentioned. Energy Secretary James Schlesinger statements on shortages, mandatory conservation and higher gasoline prices reported Mobil Oil's plans to limit gasoline supplies noted.
REPORTER: Walter Cronkite

Cronkite, Walter;
Kladstrup, Don

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