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Energy / Ford / Oil Shale Dvt. #41940

ABC Evening News for Thursday, Feb 26, 1976
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(Studio) President Ford signs his energy message to Congress
REPORTER: Harry Reasoner

(DC) He urges congress action. Asks for removal of natural gas price controls and for measures to pipe gas from Alaska to "lower 48."
REPORTER: Harry Reasoner (narrates)

(Studio) 1 proposal calls for loan guarantees for developers for oil and shale de- posits.
REPORTER: Harry Reasoner

(Parachute Creek, Colorado) Oil shale Pilot plant shut down 3 yearsago. Owners, Colony Dvt., pulled back due to huge cost increases Colony wants government loan guarantees to cover 75% of costs. [Colony Dvt., Hollis DOLE - says plant would cost over $1 billion.] Occidental Petroleum's oil shale plant produces 200 barrels oil per day. Their progress is different than other companies Method noted. Environmentalists like fact that shale stays inside mt. rather than being piled up outside. Company spends $1 million per month here. [Occidental Oil Shale, Richard RIDLEY - says plan working out. Glad he doesn't have to wait for government help.] In June, Occidental to decide on expansion.
REPORTER: Roger Peterson

Reporter(s):
Peterson, Roger;
Reasoner, Harry
Duration:
00:03:20

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