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Oil Industry / United States Production / Dependency #489855

NBC Evening News for Thursday, Aug 05, 1976
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(Studio) Federal Energy Admin. Frank Zarb says today that United States oil production is at lowest point in more than 10 years, making United States dependent on foreign oil more than ever. Much of foreign oil comes from Arab cntrys.
REPORTER: John Chancellor

(DC) Zarb also says gas prices shouldn't go up more than 1/2c. before Labor Day and prices should start dropping in September In news conf., Zarb says even with shift to bigger cars, 1976 cars averaging 25% more miles per gallon than 1974 cars. [ZARB - cites figs. with regard to oil imports and says US vulnerability issue very serious.] Zarb also says situation won't start improving before 1978 when Alaska pipeline opened.
REPORTER: Sam Eicher

Reporter(s):
Chancellor, John;
Eicher, Sam
Duration:
00:01:50

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