FTC hints at breaking up big oil firms over gas shortage
A high FTC official suggested in hearings that the commission may pursue antitrust action to breakup the eight largest oil companies. He cited concentrated refinery control and pipelines as key barriers harming independents, risking irreparable harm amid a gasoline shortage.
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Hall ordered to cotton seed, soybean export embargo
The Nixon administration imposed an embargo on soybeans and cotton seed exports effective at 5 p.m. EDT to protect U.S. feed supplies amid fears of a severe food shortage. The embargo covers raw crops and derived oil and meal, with possible future limits on corn and other grains if foreign demand rises.
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Frederick Dent
Agriculture
Earl Butz
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