Script from the WBAP-TV/NBC station in Fort Worth, Texas, relating a news story about the three day meeting of the world' s major oil exporting nations in Quito.

Script from the WBAP-TV/NBC station in Fort Worth, Texas, relating a news story about federal judge John Sirica who is expected to announce his decision on what he will do with a sealed report which said to detail president Nixon' s involvement in the Watergate scandal.

Script from the WBAP-TV/NBC station in Fort Worth, Texas, relating a news story about the Arab oil producers who are said to have decided to lift the oil Embargo against the United states.

Deficient productive capacity has not yet caused an oil crisis, but that does not mean it never will. Significant increases in world oil demand will have to be met primarily from Persian Gulf supplies. This is a region with a history of wars, illegal occupations, soups, revolutions, sabotage, terrorism, and oil embargoes. To these possibilities may be added growing Islamist movements with various antipathies to the West. If oil production were constrained, oil prices could rise abruptly along with adverse world economic repercussions. If the IEA and EIA are correct on the demand side, deficient world oil productive capacity could cause an oil crisis within 15 years and political disruptions in Saudi Arabia could cause one sooner. However, if the increases in world oil demand were more moderate, and there is long-term relative peace in the Middle East, with increasing foreign participation in upstream oil activities, a business as usual world oil demand and supply situation would be a likely scenario for much of the next century.

Script from the WBAP-TV/NBC station in Fort Worth, Texas, relating a news story about the Israeli command which says that its troops on the west bank of the Suez canal are vacating Egypt's major eastern air base.

Script from the WBAP-TV/NBC station in Fort Worth, Texas, relating a news story of the senate who votes on the Emergency Energy Bill.

Demand patterns for world oil and oil products show significant diversity by country, region, and product groupings. As a result of this diversity it is not possible to attach blame for the current level of price to any one nation, region, or product segment. The view that the oil market is international in scope and tightly interrelated is enhanced by the demand data. As a result of the integrated nature of the world oil market it is unlikely that any one nation acting on its own can implement policies that isolate its market from broader price behavior. As new major oil importers, notably China, and potentially India, expand their demand, the oil market likely will have to expand production capacity. This promises to increase the world’s dependence on the Persian Gulf members of the Organization of Petroleum Exporting Countries, especially Saudi Arabia, and maintain upward pressure on price.

Script from the WBAP-TV/NBC station in Fort Worth, Texas, relating a news story about the appointment of military men which as heads of labor and interior ministries in Portugal is regarded as a clear signal that the ruling military Junta plans to take a firmer hand with labor unions.