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Oil / Controls / OPEC / Iran #485070

NBC Evening News for Friday, Sep 26, 1975
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(Studio) Congress passes 50-day resumption of oil price controls. Ford to sign it to give more time for compromise with Congress OPEC (Organization of Petroleum Exporting Countries) fails to reach agreement with regard to new price hike. Iran wants 15% increase
REPORTER: John Chancellor

(Kharg Island, Iran) All sales of oil this summer down 25% due to world econ. slowdown. Tankers in Persian Gulf shown.
REPORTER: David Burrington

(Iran) $70 billion to be spent for atomic reactors, refineries, factories and schools. Top priority given to armed forces. Iran may be forced to borrow on world money market Felt moderate pricing might get demand for oil back up.
REPORTER: David Burrington

Reporter(s):
Burrington, David;
Chancellor, John
Duration:
00:02:20

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