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(Studio) Econ. summit in London, while concerned over possible impact on intl. oil supplies of Iran-Iraq war in Persian Gulf, reported playing down any sense of crisis; details given.
REPORTER: Dan Rather
(NYC) United States oil reserves, begun after Arab oil embargo of 1973, and implications for Persian Gulf crisis considered. [Oil expert Fred SINGER - explains questionable use of reserve.] Logistical problems faced in pumping oil out of reserve sites explained, illustrated on map. [Energy Secretary Don. HODEL - notes government's inability to control oil prices.] [Representative Mike SYNAR - thinks government's approach favors the wealthy.] [HODEL - responds.] Focus of criticism of United States oil reserve policy discussed.
REPORTER: Ray Brady
- Brady, Ray;
- Rather, Dan
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