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    "ocrText": "2\nENERGY\nRoss of Sun-Times says Saudi reportedly will propose sharp\nprice cut and sharp production increase during HAK's M-E visit.\nFEO official noted \"signs the Saudis are prepared to reduce prices\nby over 1/3 and raise production same amount. \" This \"would\nremove threat of renewed US shortage for several years, \" says\nRoss. Even if some in OPEC refuse to go along, a unilateral\nSaudi action \"would tend to drive down prices at all sources. \"\nLA Times reports Union Oil prexy Hartley says oil profits\nshow new domestic crude prices should be cut. \"Incentive is\ncurrently greater than required, 11 he said.\nMonitor reports an observer describes Sawhill as \"cool,\nefficient.\nsensitive to people's feelings\nhe'll be a smooth\nadministrator. 11 Another \"raves\" about Sawhill's \"enthusiasm\" and\nsays \"he's open, one of best listeners around, and after he's\nlistened he'll move. 11 He seems \"more of a humanist than a slide-\nrule administrator, 11 says Monitor's Sweeney.\nECONOMY\nNoting meeting w/economic advisers (which received light print\ncoverage), Rather on CBS AM reported RN's sticking by statement\nUS isn't in a recession and there won't be one, despite fact some Hill\nDems say US is in or close to recession. Noting Warren also\nsaid experts haven't changed their views, Rather reported RN's said\nto be opposed to tax cut. RN may say why in Miss. speech which is\nexpected to concentrate on economy. And unless plans change, aides\nsay RN may also outline plans for controlling inflation after controls\nare removed, said Rather.\nIn Wed. Lead, Star reports chances fo : r tax cut are improving as\nresult of Mills shift. He's no longer against quick action, a shift from\nearlier stand that Hill should defer any action til June or July. He says\nhe has open mind on prompt House acceptance of any Senate passed tax\ncut. Tho move \"might be a mistake\" if Admin's prediction of midyear\nupturn is accurate, \"it also could br a mistake to hold up a cut if\nwe're going into a tailspin, \" said Mills."
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