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Oil profits cited in Washington energy probe report
An insider story alleges oil majors profit from shortages by shifting Persian Gulf tax increases into prices while tax credits cushion U.S. returns. The piece claims production cuts favor high-margin products and squeeze independent stations, harming consumers. It also surveys Middle East diplomacy, Latin American left splits, and Watergate fallout, including IRS scrutiny of Nixon taxes and the San Clemente estate financing.
MENTIONED IN THIS ARTICLE
Washington
Federal Energy Office
Persian Gulf
U.S
Suez Canal
Sinai
Moshe Dayan
Washinton
Ismail Fahmy
Moscow
Fahmy
Henry Kissinger
Suez-Sinai
Kissinger
Egypt
Central Intelligence Agency
Mexico
FBI
Secret Service
Nixon
Internal Revenue Service
Congressional
IRS
San Clemente
Robert Abplanilo