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Press Telegram in Long Beach, California

17 May 1974

Page 9

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Articles on This Page

This newspaper page contains 2 articles. Subscribers can read the full text of each article.

Newspaper

Press Telegram

Location

Long Beach, California, United States of America

Date

May 17, 1974

Page

9

Exxon official says oil shortage not contrived at meeting

United Press International reports Exxon board chairman Jamieson told shareholders in Los Angeles that the fuel shortage resulted from Arab boycotts, domestic demand, slow coal and nuclear growth, Alaska and Santa Barbara delays, and actions by Venezuela, Canada, and the Middle East. He rejected charges of industry manipulation and noted earnings rose 29 percent in Q1 1974 to 705 million while warning against punitive energy legislation.

MENTIONED IN THIS ARTICLE

United Press International D. K. Jamieson Exxon Corp Jamieson Exxon Los Angeles Alaska Santa Barbara Channel Venezuela Canada U.S Congress Janmineson
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California task force urges breakup of oil firms retail outlets

The Younger task force recommends divesting oil companies of retail gas stations to boost competition and lower prices. It also proposes regulating pipelines under the Public Utilities Commission and ending the 22 percent oil depletion allowance. The report argues independents were starved of supply during shortages and warns of pipeline access being controlled by majors.

MENTIONED IN THIS ARTICLE

Sacramento UPI Evelle Younger Younger Public Utilities Commission Federal Energy Office
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