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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.

(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

Brady, Ray;
Mudd, Roger

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