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Natural Gas Shortage #47418

ABC Evening News for Wednesday, Feb 23, 1977
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(Studio) Texaco and Gulf oil company officials deny companies hold back natural gas in testimony to congress subcommittee today.
REPORTER: Harry Reasoner

(Gulf of Mexico) Reporter asks Shell Oil Company executive if his company holds back gas. [Shell offshore operations manager Lloyd OTTEMAN - says company not holding back gas that's ready and company capable of producing.] Congress probe of wells in Gulf of Mexico noted. Investigators didn't ask producers why production has dropped so much in last 2 years; fact is confirmed by one co. [OTTEMAN - notes reasons production cut by 1/2 over 2 years ago.] Reporter asks with regard to accusation companies not speeding production by drilling new wells; notes Otteman's explanation with regard to tapping of reserves. [OTTEMAN - cites why costs are reason companies can't hold gas back.] Congress probe into matter to continue
REPORTER: Roger Peterson

Reporter(s):
Peterson, Roger;
Reasoner, Harry
Duration:
00:02:40

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