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Energy Department / Oil Industry Report #266033

CBS Evening News for Monday, Aug 06, 1979
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(Studio) Chgs. of alleged price violations in oil industry noted.
REPORTER: Roger Mudd

(Houston, Texas) Amt. added to nation's energy bill from oil company overchgs in past 5 years stated, according to Energy Department report Cases involving Texaco, Exxon, Gulf, Amoco, Phillips, Chevron, Shell,Cities Service, Atlantic-Richfield, and Mobil said still pending in courts; amount each is accused of overchging listed on screen. Chgs. against companies detailed. [Deputy Energy Secretary John O'LEARY - comments on chgs.] [EXXON USA, vice president W.T. SLICK - comments on regulations interpretations.] Those companies settling out of court said include Kerr-McGee, Gulf; amts. involved listed on screen. Criminal conviction in overchging. case of Continental Oil (Conoco) and one of its executives reported Prison terms given Florida oil company employees due to price-related chgs. cited; Florida Power mentioned. [O'LEARY - comments.] No. of Energy Department employees involved in price violations investigations stated. [O'LEARY - says they must handle this fairly.] [SLICK - comments on keeping situation in context.] Percentage of profits in question over last 5 years noted.
REPORTER: Robert Schakne

Reporter(s):
Mudd, Roger;
Schakne, Robert
Duration:
00:03:40

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