ABC Evening News for Wednesday, Jun 18, 1980
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(Studio) Decr. in United States gasoline consumption and continued increase in prices noted.
REPORTER: Frank Reynolds
(DC) Senator hearings into apparent negation of law of supply and demand featured; films shown. Oil industry reasoning outlined; OPEC (Organization of Petroleum Exporting Countries) mentioned. [Senator Howard METZENBAUM - notes high profits and prices and excess supply.] [Exxon mkting. vice president E.J. HESS - responds.] Cost to Americans in higher gasoline costs by government decision with regard to oil company prices noted; Energy Secretary Charles Duncan's defense of administration policy reported.
REPORTER: Joe Benton
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