ABC Evening News for Tuesday, Mar 06, 1984
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(Studio) Standard Oil of California's takeover of Gulf yesterday recalled; Bass Brothers mentioned buying out Texaco today. Details given.
REPORTER: Peter Jennings
(NYC) Econs. involved in oil exploration discussed as motive in recent Gulf and Texaco takeovers; details outlined on screen. Texaco's recent purchase of Getty cited as example [Petroleum economy John LICHTBLAU - cites underlying structural reason for such maneuvers.] Profit realized by T. Boone Pickens and partners despite their failure to buy Gulf outlined on screen, explained. [PICKENS - praises Gulf takeover outcome.] STK. MKT. REPORT Lack of any benefits for consumers by takeovers noted.
REPORTER: Dan Cordtz
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