ABC Evening News for Thursday, Jul 17, 1975
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(Studio) 7 major oil companies explain why gasoline prices so high.
REPORTER: Harry Reasoner
(DC) Congress committee bickers about procedure. Oil company execs. appear 1 at a time. They deny cutting refinery output to raise prices and pressuring gasoline station owners to sell more gas [Standard Oil of IN George MYERS - doubling prices would cut consumption short term 5%.] Oil men criticize Congress for not acting on energy policy. [Senator Lowell WEICKER - says wouldn't be in here if had done something 2 years ago.] Oil execs. say Congress inaction to leave American vulnerable if another oil embargo.
REPORTER: Roger Peterson
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