Oil profits spur windfall tax push from Carter admin
The Carter administration cites oil company third quarter gains as justification for a windfall Profits tax though analysts doubt the plan would curb earnings. Conoco posted a 134 percent rise, Gulf Oil 97 percent, Exxon 118 percent, Standard Oil Indiana 49 percent, and Atlantic Richfield 45 percent as Miller reiterates the fairness of the proposed levy.
MENTIONED IN THIS ARTICLE
New York
Conoco Inc
Gulf Oil Corp
EXXON
Midway gondola jam on tower at Texas state fair
Witnesses described the Swiss Skyride gondola jam on a suspension tower as other cars moved. The cable slipped, two gondolas fell onto a crowded midway booth canopy, killing a man and injuring sixteen others including his wife and three daughters. Gallagher cited a non functioning emergency stop, with winds possibly a factor. no state or federal inspections had occurred recently. The incident followed a separate note on President Carter proposing an oil windfall tax to curb profits from crude decontrol.
MENTIONED IN THIS ARTICLE
Dallas
State Fair
Wayne Gallagher
Gallagher
Two escaped prisoners recaptured in East Texas
PALESTINE Texas AP three inmates escaped from Corfield Unit late Tuesday overpowering a guard and warden Two were captured today and a massive manhunt was under way for the third Warden R M Cousins throat cut but not serious treated and released The guard fractured arm released after treatment About 75 East Texas law enforcement officers horses dogs and helicopters scoured the area south of Tatum for Raul C Martinez considered armed and dangerous Frederico Reyna and Joe S Arriola were captured before dawn in a wooded area of Rusk County near Henderson They abandoned a stolen car and were on foot at capture
MENTIONED IN THIS ARTICLE
Frederico Reyna
Joe S. Arriola
Rusk County
Henderson
Department of Public Safety
Kennedy to announce exploratory committee for 1980 bid
Senator Edward M. Kennedy plans to reveal an exploratory presidential committee next Monday, a spokesman said, signaling a move toward challenging President Carter for the 1980 Democratic nomination. Several sources in the draft movement expect formal campaign steps to follow by week’s end.
MENTIONED IN THIS ARTICLE
Washington
Edward M. Kennedy
Carter
Kennedy
Standby gasoline rationing plan approved by Congress
Congress approved a standby gasoline plan giving the president power to order rationing if supplies fall 20 percent. An Energy Department analyst warned a workable plan may take 18 to 24 months to develop after congressional approval, with time for public comment and possible congressional review.
MENTIONED IN THIS ARTICLE
Washington
Energy Department
United States
House
Senate
John Dingell
D-Mich
Henry M. Jackson
D-Wash
Senate Energy Committee
U.S
Middle East
Jackson
Andy Fang
Gress
Fang
Office of Regulations and Energy Planning
Congress
Congressional
Ex-economic adviser warns of sacrifices in inflation fight
Houston audience hears Dr. Herbert Stein, former White House economic adviser, say inflation is not curable by magic and will demand sacrifices. A conservative, free market approach could act as another antibiotic, but higher unemployment and no tax cuts may come as inflation is deflated. He urges stronger defense spending and warns of oil supply risks from foreign producers, as energy leader Exxon flags regulatory hurdles and delayed projects.
MENTIONED IN THIS ARTICLE
Houston
Herbert Stein
White House
Stein
University of Virginia
Federal Reserve Board
Council of Economic Advisors
Defense
Center For International Business
Howard Kauffmann
Exxon Corp
Kauffmann
Oil Company
Multi million suit over Gulf oil spill hits SEDCO
The Justice Department in Houston seeks 6 million dollars for cleanup and substantial damages from SEDCO Inc over Ixtoc I drilling rig failures. Texas figures include at least 10 million filed by the attorney general and otros seeking damages from SEDCO, Pemargo, and Pemex.
MENTIONED IN THIS ARTICLE
Gulf
Justice Department
U.S. District Court
Houston
SEDCO
Bay of Campeche
Texas
Mark White
Pemargo
Permargo
Pemex
Mexican National Oil Company
Seventeen to Twenty-two Year Old Marines Burned in Japan Fire
Nineteen Marines remain in critical condition after a Typhoon Tip fuel fire at Mount Fuji base last Friday. A total of 37 were airlifted to Brooke Army Medical Center for burn treatment while others died en route or in Japan. Doctors report large burn areas and use of Sulfamylon cream and grafts to combat infection.
MENTIONED IN THIS ARTICLE
Greg Thompson
Associated Press
San Antonio, Texas
U.S
Brooke Army Medical Center
Brooke
Andrea Urbancvzk
Mount Fuji
Japan
Basil A. Pruitt Jr
Weather Outlook for Pecos Area Warmer, Fair Skies
Pecos and vicinity expect warmer temperatures and fair skies through tomorrow. Tuesday's high reached 78 degrees and the low this morning was 30. West Texas stays fair and warmer through Thursday with highs in the mid 70s up north and mountains to 80s south near 90 in Big Bend, while lows range from the low 30s in the mountains to the 40s north and 50s south.
MENTIONED IN THIS ARTICLE
Pecos
West Texas
Big Bend
Also Mentioned on This Page
Treasury
G. William Miller
Echo
Tion
Tom Southwick
Washington, D.C
Pat Perea
Leslie McNeil
Rosie Granada
Prissy Cobos
Melba Dominguez
Jimmy Dutchover
Cynthia Montgomery
Melodee Naylor
Steve Rayos
Pablo Rivera
Robert Hinojos
Bill Clements
Clements
Austin
Gill
Beaumont
Pfc
Tyrone C. Elem
Alexandria
Pvt
Thomas J. Breunig
St. Paul
Minn
Ray Farnum
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