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Special Segment (The Uranium Cartel) #501577

NBC Evening News for Friday, Oct 19, 1979
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(Studio) Report introduced
REPORTER: John Chancellor

(Wyoming) Chateau in France said secret meeting place of international uranium cartel, a secret price-fixing group that's said to include Gulf Oil Company; films shown. Gulf representative L.T. Graig's role in mtgs outlined; price of uranium since 1972 shown on graph. 1972 noted as year Gulf organization cartel and price-fixing began. Price increases achieved by OPEC (Organization of Petroleum Exporting Countries) compared. [TVA chairperson David FREEMAN - says he doesn't think world's aware of uranium cartel; notes attention focused on OPEC.] Justice Department reported discovering uranium group in 1976 with subsequent testimony before grand jury by Graig and others; recommendations of felony chgs. by prosecution and lack of such chgs. noted. Deal made by Gulf with Carter administration outlined on screen. [Senator Howard METZENBAUM - notes fine paid by Gulf was tantamount to no fine at all; says Gulf left ctroom. smiling.] Confidential documents of Gulf shown, examined; involvement in cartel of Canada and Britain stated. 1972 memo quoted on screen; Gulf execs. said refusing interview. [Justice Department spokesperson John SHENEFIELD - comments on warnings received by State Department with regard to foreign policy implications if prosecution pursued.] Implications of Justice Department's actions with Gulf for power companies considered. [FREEMAN - comments on future scenario with regard to cartel's control of energy source.] Tennessee Valley Authority (TVA) efforts to mine uranium on own and avoid cartel noted.
REPORTER: Brian Ross

(Studio) Yesterday's report on lack of action by Justice Department recalled; today's chgs. against 4 oil companies for pricing violations by Energy Department reported Details given.
REPORTER: John Chancellor

Chancellor, John;
Ross, Brian

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