Oil price hike failed to boost oil production
The GAO report concludes a $1 per barrel price increase approved by the Nixon era Cost of Living Council did not raise crude output. It notes insufficient evidence that higher prices would stimulate more production and cites windfall profits for oil companies with no tax action taken.
MENTIONED IN THIS ARTICLE
Washington
General Accounting Office
GAO
Donald M. Fraser
Dminn
Treasury
George P. Shultz
Cost of Living Council
CLC
Addi
Institute
Nader Seeks Meeting With President Ford
Consumer advocate Ralph Nader urges an appointment with President Ford, saying he aims to open channels between the White House and citizen groups. He notes past presidents avoided meetings with him and hopes for access within three weeks.
MENTIONED IN THIS ARTICLE
Washington
UPL
Ralph Nader
White House
Nixon
Johnson
Ford
Nader
UPI
Solar bills move to White House for research funding
Washington UPI reports the House approved two compromise bills authorizing research into solar power for home heating and cooling and geothermal power for commercial use. The measures authorize a total of 60 million dollars over five years and were sent to the White House.
MENTIONED IN THIS ARTICLE
Washington
UPI
House
White House
Four oil firms repay overcharges in FEA action
Washington AP The Federal Energy Administration says four oil companies Conoco Charter Ashland and Koch have repaid a total of 58.2 million in alleged overcharges. Each firm was ordered to remediate specific amounts and all have complied with the remedial orders announced Tuesday after an agency audit in the first half of the year.
MENTIONED IN THIS ARTICLE
Washington
Federal Energy Administration
FEA
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Conoco
Charter
Ashland
Koch
FTC bans pyramid marketing citing risk of deception
The Federal Trade Commission ruled to ban outright pyramid marketing schemes used to sell cosmetics and apparel. The plan pays recruiters with income shares or flat fees, creating strong incentives to recruit and sell goods. Symbraette Inc. of Scotts Valley, along with Koscot International and Holiday Magic, faced action for pyramiding tactics. If upheld in court, the decision could allow the FTC to shut down pyramid schemes by proving they are pyramids.
MENTIONED IN THIS ARTICLE
Washington
Federal Trade Commission
Symbra’ette Inc
Scotts Valley
Calif
Koscot International
Florida
Glenn W Turner
Holiday Magic
William Penn Patrick
California
Symbraette
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