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Iran / Economic Effects in United States and World #262392

CBS Evening News for Wednesday, Feb 07, 1979
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(Studio) Energy Secretary James Schlesinger's testimony to Senator Energy Committee re: potential effect of Iranian turmoil on United States oil supplies noted. Effects already taking place in United States economy due to Iran's troubles reported.
REPORTER: Roger Mudd

(NYC) Daily worsening of United States oil supply status due to cutoff in Iranian oil exports stated; details given. Exs. given include shortages at gasoline station in Mamaroneck, New York, oil refinery in Texas and oil company in Connecticut; file film shown. [American Petroleum Institute spokesperson Charles DiBONA - says situation could possibly become similar to that in 1973-74.] Oil use and decrease in reserves in world noted; price increases reported [Continental Oil Company spokesperson C.S. NICANDROS - comments on price increase] Reasons for drop in US purchases of available foreign oil given. Effects of drop in supplies on small oil companies, like Pride Refining, Incorporated, in Abilene, Texas, described. [Pride spokesperson Frank WOOD - comments.] Shortages of gasoline and resulting price increases cited. Texaco dealer Anthony CAROPRESE - comments on curtailments.] Predictions of even higher gasoline prices noted.
REPORTER: Ray Brady

(Studio) Iranian unrest reported to be major factor in record gold prices in Zurich, Switzerland. Drop in United States dollar said to have also been factor.
REPORTER: Roger Mudd

Reporter(s):
Brady, Ray;
Mudd, Roger
Duration:
00:03:40

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