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Energy / Oil Co. Profits #56807

ABC Evening News for Thursday, Oct 25, 1979
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(Studio) Response to oil companies disclosure of large profits for 3rd quarter recalled.
REPORTER: Frank Reynolds

(New Jersey) President Carter's remarks with regard to windfall profits tax, in light of oil ind. profits, noted. [CARTER - discusses impetus of administration action re: situation.] His remarks at energy forum in New Jersey later in day examined. [CARTER - says Senator Fin. Committee has passed much lower windfall profits tax; hopes what's been lost can be restored.] Proposed alternatives suggested to President outlined.
REPORTER: Sam Donaldson

(DC) House television tape shown; energy legislature, aimed at helping poor with heating bills this winter, said at issue on floor. House speaker Tip O'Neill's efforts to rush legislature along noted; letter from him to Representatives quoted in part on screen. [Representatives Robert GIAIMO, Parren MITCHELL - exchange comments.] Final vote reported.

(Studio) Energy Department reported accusing Texaco and Arco with pricing violations in the billions; details given.
REPORTER: Frank Reynolds

(Studio) 3rd quarter profits for Phillips, Shell, Ashland, Union listed on screen; Chevron said rpting. earnings next week
REPORTER: Max Robinson

(Los Angeles, California) Chevron's price reductions examined; details in gasoline, diesel and heating oil Price cuts given. Indiv. gasoline station owner named, shown. [Chevron vice president Bob CLARKE - attributes cuts to cost decreases.]
REPORTER: Stephen Geer

Donaldson, Sam;
Geer, Stephen;
Hume, Brit;
Reynolds, Frank;
Robinson, Max

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