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(Studio) Visions of cheap oil for American with Alaska pipeline opening noted. Amt. of oil moving to Los Angeles reported, along with fact that situation not quite as expected.
REPORTER: Harry Reasoner
(Los Angeles Harbor, California) Details given about growing number of ships stopping in Los Angeles and Long Beach harbors to refuel, instead of usual stops in Japan and Panama, because of cheaper price of bunker oil here. Bus. boom for United Towing Company because of this shift in refueling stops described; example cited is that of Aegis Progress, out of Athens, whose refueling is being overseen by United Towing worker Dick Hambley. [United Towing spokesperson Ron BATES - says prices here are lowest in Pacific and from reports, lowest in world.] Alaska crude oil cited as reason for cheaper price and it's noted that price breaks aren't going to boat owners whose vessels don't use bunker oil or to land vehicle owners. Is also noted that most of shipowners benefitting from cheaper price are foreign.
REPORTER: Stephen Geer
- Geer, Stephen;
- Reasoner, Harry
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