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OCR Page 1 of 30THE PRESIDENT HAS SEEN
NEWS SUMMARY
November 28, 1973
(Tues. nets, wires. Digest separate.)
The Major Stories of the Day:
-- Energy again dominated nets (8-15 mins) w/NBC leading w/Levine
report Admin's considering rationing, an extremely high tax or a
combination of both to reduce pleasure driving by 50%. That'll be
in addition to 10%-15% further reduction in refinery output of gas
beyond 15% reduction already ordered -- that'll be ordered in next
several weeks. (Report noted by CBS, but not ABC.) Levine noted
pleasure driving cutback's believed essential by Admin w/Treasury's
Fiedler on film advocating tax over rationing as disadvantages of
latter would include black market potential and need for burocratic
superstructure. Also higher price for gas would generate explora-
tion and R&D by oil companies and dampen demand. CBS noted
Love on Hill recommended allowing higher oil profits by 1-2¢ gal.
as spur to more industry exploration and R&D. Levine said tho
Hill may prefer rationing by coupon to higher gas tax, Admin says
in 1 form or the other gas rationing's inevitable. Chancellor led
by saying report indicates crisis is "even more severe than public
thought. 11
ABC led (NBC/CBS noted) w/issuance of Admin regs re: program of
conservation for heating oil. Program calls for homeowners to
turn down thermostats 6° and commercial and gov't buildings up to
10° to make equivalent savings. Regs would also guarantee high-
priority users 90-100% of their needs. Dealers would be required
to impose reductions on their deliveries to customers. ABC noted
states may have to maintain reserve supplies. [For 1st delivery
of heating oil after regs take effect, customers stand to get "an
initial fill-up" if enough's available. Thereafter formula that
forces cooler homes would take effect. ] Cronkite said there's no
enforcement -- the penalty for non-compliance would just be running
out.
RN-HAK indicated to Hill leaders that no loosening of embargo is
expected til M-E peace talks show some progress. Noted by CBS
only over good silent film of RN-HAK w/MCs. On CBS film Scott
said US can keep its commitment to Israel while establishing com-
munication w/Arabs. He noted HAK hopes M-E talks will start
Dec. 18. Fulbright followed saying there' be increasing difficulties
for West til settlement's reached and there's a resumption of Arab
Relations
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