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Oil Industry, Prices and Shortages #503038

NBC Evening News for Monday, Feb 26, 1979
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(Studio) Venezuela oil price increase reported.
REPORTER: David Brinkley

(New York City) Report on effect of Venezuela price hike. New York's Con Ed given as example of how utilities will be affected. (Some video difficulty.) Problems already occurring said to include cancellation of Trans World Airlines, Inc. (TWA) flights in Kansas City and New York City and National Airlines' cancellation of one flight due to lack of fuel and Atlantic Richfield's cutbacks in oil supplies.
REPORTER: Mike Jensen (WDAF-TV newstape)

(Studio) Saudi Arabian oil minister Sheikh Yamani's comments on expected Mideast oil increase given. Reports of White House consideration of standby mandatory measures to conserve gasoline noted.
REPORTER: John Chancellor

(DC) Details about mandatory gasoline conservation measures being considered by White House for submission to Congress White House aides' report that Congress asked for this and President Carter doesn't favor mandatory measures noted. Admin. view of Iran oil cutoff stated. Energy Secretary James Schlesinger's plans to ask Federal Energy Regulatory Commission for easier plans for companies to switch from oil to natural gas reported.
REPORTER: John Dancy

(Studio) Oil industry situation in Iran described.
REPORTER: John Chancellor

5:38:00 "IRAN"

(Studio) Arrest of American and 3 Britons by Iranian militia and their later release on orders of Ayatollah Khomeini reported.
REPORTER: John Chancellor

Reporter(s):
Brinkley, David;
Chancellor, John;
Dancy, John
Duration:
00:03:50

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