NBC Evening News for Wednesday, Feb 07, 1973
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(Studio) Cost of Living Council holds hearings on fuel oil price increases. Most price controls lifted under Phase III.
REPORTER: John Chancellor
(White House) At swearing in ceremony for Phase III chief John Dunlop, Nixon warns will not allow voluntary controls to be abused. Council hears testimony on recent 8% price increase in home fuel oil. [SHULTZ - says hearings important] Critics say oil companies deliberately curtailed production heating oil during Phase II because couldn't raise prices. [Senator Thomas McINTYRE - critical of oil companies Doesn't favor oil price increases.] [Chairperson Mobil Oil Rawleigh WARNER - says costs increasing and so must prices.]
REPORTER: Irving R. Levine