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Oil Prices / Energy Shortage #29102

ABC Evening News for Monday, Nov 11, 1974
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(Studio) Saudi Arabia, Qatar, United Arab Emirates cut oil prices by 3 1/2% but increase taxes and royalties charged foreign oil companies United States oil execs. believe prices to consumers will probably increase
REPORTER: Harry Reasoner

(NYC) [Gulf Oil President Z.D. BONNER - advocates removing price controls and allocations from oil industry; supports plowback tax; details given.]
REPORTER: Bill Brown

(Studio) Domestic oil refining cut back in past few weeks; demand down; inventory up. Some oil companies push to increase gasoline sales.
REPORTER: Harry Reasoner

(Miami, Florida) Many major oil companies cut gasoline prices to sell allocations. [Dade Cnty. retailers association Lou DOUCETTE - says oil companies want gasoline sold, but government talks about energy crisis and conservation.] [Retailers association spokesperson Bill SCHEMER - thinks oil companies trying to regain complete control from oil well down to gasoline pump.] Customers react to energy shortage build-up by government
REPORTER: Charles Murphy

Reporter(s):
Brown, Bill;
Murphy, Charles;
Reasoner, Harry
Duration:
00:04:00

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