Senate backs oil import quota for U.S. tankers
The Senate approved a bill to require a portion of U.S. oil imports to be carried on American tankers, a move praised as bolstering shipbuilding and national security but opposed as adding inflation. The measure faces House differences and possible conference action, with a 42 to 28 vote.
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UPI
Senate
U.S
House
Russell Long
Dla
United States
Norris Cotton
Rana
Cotton
American Petroleum Institute
Interior objects to strip mining bills threaten veto
The Department of Interior filed 14 objections to House and Senate strip mining bills, signaling potential presidential veto. Secretary Rogers C B Morton criticized surface owner provisions in both bills, saying they threaten private land rights and could impose $300 million in federal costs in year one.
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Department of Interior
House
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Interior
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Oil giants indicted for price fixing in New York
Seven major oil companies Mobil Exxon Texaco Amoco Gulf Shell and Sunoco were indicted in Manhattan Supreme Court on charges of fixing competition to push independent gas stations out of business. The grand jury alleged they restrained price competition in markets with few independents and used discriminatory rebates. Exxon Mobil Gulf also faced a separate ant bidding conspiracy over city and state fuel contracts. If convicted fines could reach 50 000 per company and three firms risk five year bans from selling to government entities if immunity waivers were refused.
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New York
UPD
Mobil
Exxon
Texaco
Amoco
Gulf
Shell
Sunoco
Manhattan Supreme Court
Fixxon
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