× The Vanderbilt Television News Archive is currently closed to in-person research, but is still fulfilling loan requests. For the latest information about COVID-19 (coronavirus disease), visit vu.edu/coronavirus.
Search the Archive

Oil Industry / OPEC / Texas Oil Dvt. #41218

ABC Evening News for Monday, Dec 13, 1976
View other clips in this broadcast →

Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.

(Studio) OPEC (Organization of Petroleum Exporting Countries) to open meeting Wednesday in Qatar, on Persian Gulf. Plans are to raise oil prices, but not known how much. Although need for domestic oil greater now, less being pumped in Texas.
REPORTER: Barbara Walters

(No location given) Fields near Baytown and Dilley, Texas, noted. Texas RR commission, which sets production rates on old and new oil fields in Texas, has cut production rate 1% this year to try to pressure government to develop energy policy to stimulate development Ind. spokesperson say restrictions on higher profits hold down research and development; say they would even take policy requiring profits to go back into research. [Shell Oil (USA) president John BOOKOUT - says reinvestment of funds provision in legislature would be accepted, as it's intended anyway.] Some feel with new President and Congress, some restrictions will be lifted, but if not, Texas may cut back production. [Texas railroad commission spokesperson Jim LANGDON - says no state in union is going to capacity of own energy sources and some entirely dependent on outside help.] Conflict between oil industry and consumer advocates noted.
REPORTER: Roger Peterson

Peterson, Roger;
Walters, Barbara

Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.

Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:

  • You may request a loan of this video by registering on our website and placing an order.
  • You may visit the Television News Archive on the Vanderbilt campus to view on-site from the Archive's collection.
  • If you are associated with a college or university, you may ask your library if they would like to become a sponsor, which would give students and faculty at your institution the ability to view items from our collection.

If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.