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Price Gouging / Fuel Oil #482136

NBC Evening News for Tuesday, Apr 01, 1975
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(Studio) Federal official says investigation uncovers another $1/2 million overcharge on fuel oil sold to utility companies.
REPORTER: John Chancellor

(Wichita, Kansas) In Kansas, hundreds of small wells run by small producers. Federal investigators believe widespread price gouging occurred here because of price differences in "old" oil and "new" oil. Old oil prices fixed by government, but new oil prices not controlled. If well owners overcharge, refineries and retailers also overcharge. Federal Energy Administration going through records of Kansas well owners and refiners. One owner, L. W. Stephenson, agrees to pay back nearly $1/2 million he overcharged. Investigation now centers on Koch Inds.; details given.
REPORTER: Robert Hager

Reporter(s):
Chancellor, John;
Hager, Robert
Duration:
00:02:50

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