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Oil Decontrol #38555

ABC Evening News for Thursday, Jul 31, 1975
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(Studio) House votes 303-117 to extend current price controls on domestic oil for 6 mos. Press Secretary Ron Nessen says President Ford will veto bill.
REPORTER: Howard K. Smith

(DC) Congress tries to freeze gasoline prices. Democrats predict high prices after controls expire; administration expects gradual increase [Federal Energy Administration Admin. Frank ZARB - says answer to dilemma won t be solved by cosmetic solution; bold tough action needed.] [Representative John DINGELL - says consumers to take gouging; unemployment and cost of living to rise, hsing. starts to decline and auto mfrs. to be affected.] [Representative John RHODES - says all could be mitigated if oil companies would abide by President' last oil decontrol plan.] Oil companies say consumers will pay for decontrol.
REPORTER: Don Farmer

Reporter(s):
Farmer, Don;
Smith, Howard K.
Duration:
00:02:20

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