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Natural Gas Shortage / Plan / Texas #484559

NBC Evening News for Thursday, Aug 28, 1975
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(Studio) Federal Power Commission says inds. dependent on natural gas can buy it at whatever cost market will bear. Govt. regulates natural gas prices if it crosses state lines. Govt. will put regulations aside. President Ford meets with govs. of 3 biggest producers, OK, Texas and Louisiana and govs. from 13 states that use much of gas.
REPORTER: Tom Brokaw

(DC) Nearly all govs. support FPC short term measure. Ford asks support for permanent deregulation of natural gas prices. Govs. agree on 5 year decontrol plan for new gas. [OK Governor David BOREN - explains 5 year plan.] Pennsylvania Governor Milton Shapp opposed to any decontrol. [MD Governor Marvin MANDEL - says country in trouble until Washington, DC people do something. Action needed; not mtgs.] Gas shortage may affect coldest mos.
REPORTER: John Cochran

(Studio) Shortage supposed to be 30% greater than last year's
REPORTER: Tom Brokaw

(Texas) Texas provides 1/3 nation's natural gas. FPC proposal greeted favorably. Producers want total deregulation of prices. Regulated gas costs 55 cents per 1000 cubic foot Unregulated gas costs $1.85. Producers say higher prices needed to find more gas. [Independent Producer George MITCHELL - says present regulation is disaster. Congress wasn't concerned about gas for future.] Gas producers claim price of gas to be limited by competition with other fuels. Deregulation won't affect this shortage.
REPORTER: George Lewis

Brokaw, Tom;
Cochran, John;
Lewis, George

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