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President' Speech / Energy / Reaction / Oil Refineries #37392

ABC Evening News for Wednesday, May 28, 1975
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(Studio) President Ford blasted away at Congress last night for failing to come up with energy program. In speech, President announces another $1 tariff on imported oil and plans to phase out controls on domestic oil. Congress reaction follows.
REPORTER: Howard K. Smith

(No location given) [Senator Henry JACKSON - thinks President' speech was public relations charade.] [Senator Lowell WEICKER - disagrees with specifics of plan, but at least he has plan.]
REPORTER: No reporter given

(Studio) American Petroleum Institute praises President' moves on oil. President of Institute Frank Echhart says President' actions in national interest. Oil companies claim government curbs on industry have slowed expansion of facilities up to now.
REPORTER: Harry Reasoner

(Houston, Texas) Many oil companies cancel or slow down work on new refineries. [Senior Vice President Conoco Roy BAZE - says company decided to look past short-term regulatory and economy conditions and expand refineries.] Continental Oil won't take gamble to build new refinery. [Executive Vice President Exxon W.H. "Bill" BURNAP - says oil companies under price controls since 1971 but labor costs, fuel costs haven't been passed on.] Oil companies want end to price controls and fuel allocations.
REPORTER: Bill Wordham

(Studio) Spokesperson for Ralph Nader consumer group says complete removal of restrictions from domestic oil to permit OPEC (Organization of Petroleum Exporting Countries) oil producers to set price for oil in US. Admin. energy experts suggest floor for oil prices might be necessary.
REPORTER: Harry Reasoner

Reporter(s):
Reasoner, Harry;
Smith, Howard K.;
Wordham, Bill
Duration:
00:04:30

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