24 Jan 1975
Page 1
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Newspaper
Lompoc Record
Location
Lompoc, California, United States of America
Date
Jan 24, 1975
Page
1
The Ways and Means Committee pushes a 90 day delay on Ford’s fuel tariff rise amid White House opposition. Rep. Moss cites a Library of Congress study forecasting consumer costs up to 50.3 billion this year and inflation pressures.
A Library of Congress study released by Rep. Moss estimates Ford energy proposals would raise consumer costs by about 50.3 billion in 1975, with crude oil taxes and deregulation driving most of the impact. The report warns continued inflation and deeper recession, as prices rise across gas, fertilizer, and utilities.
Algerian Foreign Minister Abdelaziz Bouteflika warned that American threats of intervention could spark world war as OPEC nations meet to counter Western policies. He criticized inflation blamed on Western excess and said oil profits drive economic strain while Western nations live beyond their means.
Washington officials reject NBC and New Republic claims that three Army divisions were being prepared for the Middle East. Defense Secretary Schlesinger calls the report bunkum and reiterates no plan to move troops abroad.
After a marathon bargaining session lasting about 15 1/2 hours, Johns Manville Corp. and the Chemical Workers Union ended with union leaders walking out at 1 a.m. The dispute centered on a cost of living escalation clause and the company’s response to ratification terms with no immediate new meeting scheduled.
The average weekly cost of a consumer food market basket rose to 33.65 dollars in 1974, up 4.09 dollars from 1973. Department records attribute 3.45 dollars of the increase, about 84 percent, to higher middleman charges for processing and marketing food.
Weather stays fair through Saturday with coastal fog or low clouds late night and morning. Cooler days with highs in the upper 50s to 60s and overnight lows in the mid 30s to low 40s. Light winds, northwest 5 to 15 mph afternoons. Tidal cycle shows Saturday high tides 6.4 ft at 7:46 am and 4.1 ft at 9:21 pm, low tides 1.9 ft at 1:27 am and minus 1.2 ft at 2:58 pm. Sunday highs near 60s with high tides 6.7 ft at 8:32 am and 4.4 ft at 9:58 pm. Monday tides include highs of 6.8 ft at 9:17 am and 4.7 ft at 10:35 pm.
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