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January 25, 1974 - Image 3

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Publication:
Michigan Daily, 1974-01-25

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THE MICHIGAN DAILY

age Three

THE MCHIGA DAIL PageThre

I

SENATE INQUIRY:

. _. .

Senate leaders
call for crude
oil cost rollback.

Secret federal policy actions
encouraged foreign oil cartels

AP Photo
SEN. HENRY JACKSON, right, chairman of the Senate permanent investigations subcommittee, con-
fers with Senator Abraham Ribicoff during the subcommittee's energy crisis investigation this week.
Five called totestify before
Watergate committee next week

WASHINGTON P) - Senate 1
Democrats expressed strong sup- 1
port yesterday for a proposal to
roll back the price of domestic
crude oil.,
The support was voiced at a
closed party caucus, senators re-
ported later. However, action on.
the matter was delayed by the
caucus pending hearings by the ,
Senate Finance Committee.-
MEANWHILE, the Democrats
moved to force action next week
on the emergency energy bill.
It was blocked before Christmas
by Republicans and oil-state sen-
ators opposing a provision aimed
at limiting windfall profits by oil
companies.
Democratic Leader Mike Mans-
field filed a cloture petition. That
means the Senate will vote Mon-
day on the move to limit debate
and bring the measure to a vote.
Sen. Henry M. Jackson, (D-
Wash.), the floor manager, pre-
dicted the measure will be
passed "sometime next week."
AMONG OTHER THINGS, the
measure would give President
Nixon authority to order gasoline
rationing.
The energy question dominated
the first Democratic caucus of
the new congressional session.
Debate focused on a resolution
by Sen. Walter F. Mondale, (D-

Minn.), for a roll-back to Novem-
ber 1973 prices.
With several Senate commit-
tees becoming involved in vari-
ous aspects of the energy situa-
tion, Mansfield announced crea-
tion of a special panel to con-
sider forming a committee to
study all matters involving en-
ergy, the environment and natur-
al resources.
THE STUDY COMMITTEE
will be headed by Sen. Daniel K.
Inouye, (D-Hawaii), who sug-
gested it. Inouye said the com-
mittee was needed to "convince
the people of the United States
we have not lost our heads, that
there is some semblance of or-
der."
Under the current overlapping
of committees dealing with ener-
gy, three committees are study-
ing three measures dealing with
a roll-back in domestic crude oil
prices.
Mondale said his price resolu-
tion would save consumers $6
billion a year.

GARDEN CITY, N.Y. () -
Secret federal decisions dating to
the World War II years allowed
American oilmen to form the for-
eign cartels now driving up in-
ternational oil prices, Newsday
said yesterday.
The Long Island newspaper's
report from Washington said a
picture of international monopoly
with federal encouragement has
been developed by investigators
of the Senate Subcommittee on
Multinational Corporations.
The subcommittee, chaired by
Sen. Frank Church, (D-Idaho),
opens hearings next Wednesday
on the role big business plays in
U. S. foreign policy.
Church, Newsday said, has
asked for declassification of 62
secret documents he says will
support his staff's assertions.
THE NEWSPAPER said an oil
industry spokesman and an Ex-
xon executive both denied the
allegations.
The most recent federal en-
couragement, the report said,
was a 1971 decision of former
Atty. Gen. John Mitchell not to
raise antitrust objections when
major international oil compa-
nies united to bargain on prices
with the newly united oil-produc-

ing Middle East nations.
Mitchell's decision, in a classi-
fied letter, reasoned that the oil
companies did not have enough
strength to bargain separately
with the Organization of Petro-
leum Exporting Countries (OP-
EC).
"The subcommittee staff con-
tends that the Mitchell argument
was flawed because Mitchell 'as-
sumed that the companies and
the countries were in opposition
instead of realizing that both the
companies and the OPEC coun-
tries had a joint interest in high-
er crude prices,"' Newsday said.
LISTED AS OTHER key policy
decisions that encouraged oil car-
tels:

-Dropping in 1943 of Presi-
dent Franklin D. Roosevelt's idea
of a federal corporation to guar-
antee Saudi Arabian oil develop-
ment. By relying instead on pri-
vate firms, the government set
the stage for formation of Aram-
co, a consortium of Exxon, Texa,
co, Mobil, Standard Oil of Cali-
fornia and the government of
Saudi Arabia;
-Granting tax privileges in
1950 that allowed royalties to be
deducted from U. S. income tax,
thus making oil companies an in-
strument of American foreign
policy financed by lost tax reve-
nues.

Boogie Ton ightI
AT

By AP and Reuter
WASHITNGTON - Charle "Be-
be" Rebozo, a close personal
friend of President Nixon, will
be among five witnesses called
before the Senate Watergate com-
mittee next week, a source close
to the panel said yesterday.
The hearings next week w i 11
focus on Howard Hughes's $100,-
000 gift to Rebozo during a period
when Hughes was attempting to
win Justice Department approv-
al for his purchase of the Dunes
Hotel and casino in Las Vegas.
The department's antitrust divi-
sion earlier had blocked Hughes
THE MICHIGAN DAILY
Volume LXXXIV, Number 96
Friday, January 25, 1974
Is edited and managed by students at
the University of Michigan. News phone
764-0562. Second class postage paid at
Ann Arbor, Michigan 48106. Published
daily Tuesday through Sunday morning
during the University year at 420 May-
nard Street, Ann Arbor, Michigan 48104.
Subscription rates: $10 by carrier (cam-
pus area); $11 local mail (Michigan and
Ohio); $12 non-local mail (other states
and foreign).
Summer session published Tuesday
through Saturday morning. Subscrip-
tion rates: $5.50 ,by carrier. (campus
area); $6.50 local mail (Michigan and
Ohio); $7.00 non-local mail 'other
states and foreign).

from increasing his large casino
holdings in Nevada.
THE SOURCE said the other
witnesses to be called are:
-Robert Haheu, a former close
associate of recluse billionaire
Hughes and a key figure in the
Hughes gambling and hotel em-
pire in Las Vegas;
-Richard Danner, a Hughes
agent who reportedly delivered a
controversial $100,00 donation to
Rebozo sometime before the
President's 1972 re-election cam-
paign;
-Thomas Wakefield, identified
as an official in the bank Re-
bozo controls in Key Biscayne,
Fla.; and
-William Griffen, reportedly a
lawyer working for industrialist
Robert Abplanalp, another close
personal friend of President Nix-
on's.
IN ANOTHER Watergate de-
velopment, Congressman Peter
Rodino said he will ask the House
of Representatives to give his
judiciary committee subpoena
power in its impeachment invest-
igation.
The announcement came fol-
lowing reported remarks by the
President that he would "fight

like hell" against impeachment.
One Republican congressman
said the President told him and
other congressmen at -the White
House on Tuesday that:
"There is a time to be timid.
There is a time to be concilia-
tory. There is a time to fly.
There is a time to fight, and I
am going to fight like hell."

_ _..._

i

University Players/University of Michigan
ATTENTION BLACK ACTORS AND ACTRESSES
AUDITIONS FOR OBIE AWARD WINNERS
HAPPY ENDING and DAY OF ABSENCE
by Douglas Turner Word
Friday, January 25th-3 p.m.-S p.m., 7 p.m.-9 p.m.
Trueblood Theatre, U-M campus
Directed by Carlton Molette I
Drama Professor, Spelman College, Atlanta
Former Vice Chairman, Black Theatre Project, ATA
PERFORMANCE DATES: MARCH 13th-MARCH 16th
NEEDED: 6-8 women; 8-10 men
For further information call 764-6300, Mon.-Fri., 9 a.m.-5 p.m.
-
SHAKESPEARE: THE SONNETS
WORDSWORTH
SHELLEY
A RECITATION WITH REMARKS
by
SOPHIA WALSH
Gortheanum Dornach, Switz
SAT., JANUARY 26-3 P.M.
MICHIGAN ROOM, MICHIGAN LEAGUE
-~~-~-----

WCBN-FM presents
CELLULOID (HEROES
A weekly discussion of the film medium
Saturdays 3:30-4:30
This Week: FRANK CAPRA INTERVIEW
and discussion of his work

Live Bahd
75c Admission

1405 H iLL ST.

Free Beer

T(

SHABBAT SHALOM
Join Us FR/DAY EVENING
for Shabbat
Communal Sabbath Dinner-6:30
Chocolate Service (Trad)-6:00
Strawberry Service (Liberal) -8:00
H I LLEL-1429 Hill St.

I

U

F.

r

GRAD PARTY
BY GRAD COFFEE HOUR PEOPLE AND FRIENDS

Friday, 9 p.m.

B.Y.O.

FREE

1

at RIVE GAUCHE-1024 Hill
(corner E. Univ. and Hill)
all grads, faculty and friends welcome

GROUP GUITAR LESSONS
6 Consecutive Weeks,
Materials Included,
ON LY $12.00
We also teach
flute, banjo, recorder,
bass, sax, drums, piano,
oboe, and clarinet.
FOR ENROLLMENT, CALL 769-4980:
ANN ARBOR MUSIC MART

336 SOUTH STATE STREET

Open 9:30 a.m. to 9:00 p.m.

THETA XI

come see
The Famous COED Frat!

-- - - - - -
Technics
,fthk-by Panasonic

1345 Washtenaw

761-6133

--- -- -

IN CONCERT
WEATHER REPORT.
and
RETURN TO FOREVER
featuring CHIC COREA
Sat, Jan. 26-8:30 p.m.
Men's I.M.-M.S.U.

PARAPHERNALIA
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