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Newspaper
Lompoc Record
Location
Lompoc, California, United States of America
Date
Jan 01, 1976
Page
3
The Federal Power Commission raised the price of natural gas to curb shortages and boost production, adding about 360.55 million dollars in 1976 and increasing the typical residential bill by about 5.31 dollars a year. The order, issued New Year’s Eve, ends geographic rate setting and applies to interstate gas shipments only.
The federal minimum wage increases to a record $2.30 per hour benefiting about 4.2 million workers, but Social Security taxes rise 8.5 percent for those earning $15,300 yearly. The change reflects the final 1974 law increase and shifts after inflation.
Police trace warning call after a hazardous device at LaGuardia Airport injures 75 and kills 11 people. A woman reported overhearing two men discussing the device from a phone booth before the incident. Authorities seek her identity as investigators review tapes and claims of a Puerto Rican extremist group.
President Perez hoisted the national flag at Zumaque No. 1 as Venezuela seizes control of its oil sector from foreign firms, ending six decades of foreign operation. Cabimas hosted officials and workers for a ceremony watched in 52 countries with over $1 billion compensation agreed for expropriated companies. Mamie Eisenhower hospitalized for evaluation. no stroke reported.
President Ford told 23 reporters in the Oval Office that he has a good 1976 vision for 215 million Americans. He spoke of peace at home and abroad, better economic conditions, stronger freedom, environmental protection, and crime reduction as core goals. He expressed confidence in his ability to implement the plan and looked forward to progress each day.
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