Page 2, The Herald, Thursday, October 25, 1979 Cheap Saudi oil meant profits NEW YORK (AP) Cheaper Saudi Arablan crude oil gives the four largest U.S. oil companies a profit advantage over competitors who rely on more costly crude, Industry olficiala say. One of the four, Mobil Corp., said Wednesday Its third-quarter profits had risen 191 per cent over the corresponding period last year. Another, Exxon Corp., the world's largest ail company, said Monday profits had risen 116 per cent for the quarter, The other two companies, Texaco Inc. andStandard Oil Co, of California (Chevron), have yet to release third. quarter figures. Even companies without the advantage of the Saudi crude oil — which costa lesa than oil from other members of the Organization of Petroleum Exporting Clark claims offshore oil rights | OTTAWA (CP) — Prime Minister Clark Countries — are turning in large third-quarter earnings gains. Standard Oil Co, of Ohio, the 14th-largeat U.S, oil company, said Wednesday its profita in the July- September period had almost tripled from last year's figures, Tenth-ranked Sun Co. said profits had risen 65 per cent in the quarter. Citles Service Co. and Marathon Oil Co,, virtualiy tied for 17th position among U.S. oll companies, said profits were up 64 per cent and 58 per cent, respectively. In Washington, the House of Representatives, ap- parently upset by the huge profits being posted by the industry, voted 225-ta-189 to Tetain price and allocation controls on gasoline through mid-1961. . House Speaker Thomas O'Neill said the profits are “a disgrace to the nation ... no intention of invoking such wera an absolute and uiter disgrace,” . Mobil, the second-largeat U.S. off company, said its profits in the third quarter were $595 million, or $2.90 a share, compared to §252 million, or $1.22 a share, in lest year’s third quarter. Sales rose to $22.1 billlon from $9.2 billion. For the first nine months of the year, Mobil had profits of $1.44 billion, or $6.77 a share, up 81 per cent from $792 million, or $3.74 a share, last year. Sales for the firat three quarters rose to $33.2 billion feom $23.7 billion, Exxon, Mobil, Texaco and Chevron are partnera in the Arabian-American Ol Co. (Aramco), which runs the Saudi oilfields and receives the bulk of Saudi Arabla's 0.5 million barrel-a-day oil production. The four companies buy the Saudi crude oll for $18 a country’s underlying law, only as an “emergency” barrel and then elther sell it unrefined for a profit or refine it into gasoline, changes hands, are~even er. But while the Aramco heating oil and other partners are paying at leaat products. $2 a barrel less for their oll, thelr product prices in moat Theaverage price of crude places are the same as those from the OPEC members is more than §20 a barrel, and Libya charges as much as $24.27 a barrel for lis high: quality oil. Prices on the epot market, where oil not sold under long-term contracts of companies using higher: - priced crude asa a raw ingredient, - = Among the other oil com: paniea anoincing earnings . Wednesday: : ohio said its profits One lowers prices SAN FRANCISCO (AP) — Standard Oil of Callfornia announced Wednesday it is cropping its wholesale prices for gasoline, diesel fuel and beating ofl by three cents a gallon “You probably won't believe this,” sald Robert Bowles, general manager for operations of Chevron USA, authority to retaln ultimate control of offshore re- Standard's domestic: marketing firm, “‘but we are | doing this because our coats ; have moderated and we: wanted to pass on thei savings to consumers," | Bowles said the price cut ; was not required elther by | energy department price ' controls or voluntary anti- | inflation guidelines. sy of offahore reagurces to the provinces “only until such - rose 191 per cent In the third Quarter, to $266.2 million from $125.7 million. — Sun sald.its profits in . the third quarter were $174.9 million, up ‘from $105.4 million last year, ~ — Clilea Service said ita third-quarter profits rose to $86.1 million from $52.6 million last year, — Marathon sald third- quarter profits rose to $79.7 milllon from $50.5 million. (JACKAL ' SAID AFTER PRINCESS LOS ANGELES (Reuter) ~ Police and FBI agents are hunting for an Irish Republican Army ‘‘Jackal”’ believed to have plotted to assassinate Princess Margaret, security sources said today, The sources sald the detectives also were solemn NEWS BRIEFS MONTREAL (CP)! — About 1,000 Mohawk mourners trailed through the rainat nearby Caughnawaga Indian reserve Wednesday on their way to bury David - Croaa, the 28-yearold band _member abst and killed by a Quebec provingial policeman last weekend. A black limousine Idd the three-kilometre procession, bearing a huge floral arrangément spelling the name David. “That man was not an ani- mal,” a Teyear-old woman sald after Crosa’s body was lowered into the grave and given the last rites in the Mohawk language. “He had a soul,’ sald the woman, identifying herself later as Mrs. Scott Jacobs, a babysitter of the Cross children. ‘They treat us like animals,: but we've never shot down a mar like that ourselves, Our hearts are broken.” Windfall tax likely WASHINGTON (AP) — ‘The surge of profits posted by major U.S, oil companies may be helping supporters of a windfall tax on additional revenues the industry will be taking in as a result of oil price decontrol. President Carter planned to drop by a White House breakfast today for mem- bers of g coalltion supporting the tax. Later, members of the Na- Thomas O'Neill, speaker of the House of Represen- tatives, called the oil- industry profits announced this week ‘‘a disgrace to the nation.” "T's just an absolute and utter disgrace.” Among the third-quarter profits waa Exxon's surge of 136 per cent, to a net income of $1.1 billion, Conoco's profits were up 134 per cent and Gull’s up 97 per cent, O'Neill told reporters acknowledged Wednesday “Clark told Opposition power. sources, time as Parliament wants to ding up a profile of the ‘ the federal government Leader Pierre Trudeau in “We do not contemplate ‘Trudeau asked Clark to bring them back.” would-be assassin, who | . onal Citizens’ Coalttion fot TOE ctements company retains constitudonal powers ihe Commons he regards the invoking those powers,” the say whether the new | TheClarkgovernmentwill |. they believe has a U.S.] Jo, meeting with members send a mesange to the Senate to take over jurisdiction and so-called declaratory power prime minister aaid In Progressive Conservative 600n begin talks with the | work card enabling him } othe Senate io push for to get a windfall profits tax ownership of offshore contained in the British response to Trudeaw’s government is transferring provinces on broad areas of | (olive permanently in the passage of the tax out and a strong one.” resources, but he saidhehas North America Act, the question over Parliament's ection and ownerhahip agreement announced United States, titied . . earlier thls mon ; e” unidentifie Q : t t cerning the dranuter Ke: suspect ad pie eee Aid just trickles ownerahip 0 re min- WV BO0- : WASHINGTON (AP) — the U.S. government Wed- uebec g OV work ers ou eral FERC. pagned Day Of the Juckeratice | U.S, ald is getting through nlo_esday lo providing 869 mL Pa el tt all social service workers and previous Union Nationale agairat striking now, while against complete transfer deals wn - plot ie only ving Carbo Hanis bat avert "a tragedy of ment employees began early professors unter college the pot wth highly, wt Mexercse their aivike Fug that strong central Charles de Gaulle “ot of thousands of people are genocidal proportion.” : e 5 ~ not to exercise strike = argu a strong centre, flocking to the Thailand He alao urged Americans today with workers at about The law requires essential publicized walkouts, But this mandate immediate! government was essential, | France. ocking to ne n Lenghet under mene snrcaean amplak fo be tame the Cental do YEN "ae aie vote wan even TneLiterais had peviowly | crated by"psice ant | Sepirimentofsile ty. tus and a wou as the workers protest The workers are members province's biggest teachera’ {eht within the CNTU and 75" percent control while | SUfce close to the rayal | Ogalmgl the backdrop of Fogle eer eas to esing contract talks with of the Confederation of union, and the Quebec unio t M ncted to Ottawa retained 25 per cent, arieg in Rave plotted ‘a predictions that as manyas sponsor ‘‘an immediate Tie hotel walkout, eyual Trade Unions, one Federation of Labor have Waw'eut today became moat Trudeau said outside the | inst eriday enileahewar | three million Cambodions - massive alrlift” of food and which involves mainly the so-called common front hata vane now — not cr their members did not his campergnpoaitioe’ vith in Los Angeles. are on the Torge of starving: medical supplies by U.S, and support staff, began at which bargains for 200,000 ~ The 65,000 CEQ members, 5PProve strike actlon now. lgnificance of Clark's an- Police ralded a Loa eucem Car F commine et milltary [orces. midnight EDT. Others, in- public employees — roughly who teach at most of _ Contracts in the common wer was that the govern- Angeles motel he ; ee gee es os cluding professional two-thirds of the public Quebec's primary and front expired June 30 and mentdid not intend to invoke ie aay ane: Wednesday. | ae Leftists take over. eee ae en Payroll pecondary schools and some both sides want new pacls the declaratory power, | rived but theeuspect had | |. SANSALVADOR (AP) Gabriet Galléii Valdes ater in the day, along wi The three federations put junlor colleges, voted signed by Christmas Trudeau said. fled the day ey ed the | Almost 1,000 leftists oc- Undersecretary Mari 4 : A ‘spokesman for Clark , cupied the labor and Teresa de Avile and 30 other said there was no immediate ated year old prin | economy ministries andheld hostages, THURSDAY 5 0 m {0 midnight plan to propose amending | 4. spent Wednesday in} furcablnet officials and 130 — They demanded release of on, that section of the con- Fo) avelusive San Fran. | other persons hostage, all political prisoners and stitution. : cisco hotel under tight ae- demanding higber wages, information on the fate of 7 Clark said the transfer of curity price controls and release of about 500 persons they sald KING CFTK BcTY KCTS revoureee wn tindertaen to Princess) Margaret Fanta that too po ver in El ooeny balers retident CBUFT leaves for Cleveland later un power custody before President 2 (NBC) 3 (cac) 4 (CTV) 9 (PBS) | 1 pen fea area into line with today on the last leg of her Salvador 20 days e age. fan Carlos Humberto Romero > —s arn . . derground resources. twoweek tour of the armed with Intole and wat tint they "tald they gm 300 Carol -. - : Happy!’ 1.” “Sb a Mistér. a Les ; The declaratory proyislon. . United States to alte. miichetes, ‘ftok’ over the would stay until their, SP BUTMBEE sy, ase n et ‘of Million Rogers i, | Pletrafeu | ~.:”,].,Would apply in both casg,.he z lease ‘ni Bodies opera lao. munisthy shortly belare demands, were met, -. then 30 News ourglass Dollar Electric Nanny sald. In Dublin, senior | "00m Wednesday. They said they would leave in 24 45 [Cond't Cont’d Man “ompany Cont'd Trudeau offered in | sources inthe ERA denied | ®8/zed Labor Minister hours. 0 | cord eo zon os radioal gover ‘oie | wammacnal= | Policeback in saddl 6 115 | Cont'd Announced Hour Cont'd Ediifon aver provincial enterprises | piyvon Mergaret olice DacK In Sa 30 | Cont'd Cont'd Cont'd Over Pacifique consi ered criticial to the | ‘Los Angeles police and NEW GLASGOW, N.S. force has been on atrike 45 | Cont’d Cont'd Cont'd Easy Actualltes _ ee a vantage of the FBI | here have (cP) ned roown Polite singe Monday. lesg ' ; ‘ clamped down on in- wor 8 ew Glasgow set: ” Settle Cont'd Benson MacNeil Propulsion The move wag iBreeted formeton on the matter, | Morning following settle- . tlement came after a x Tonight Cont'd Cont'd Lehrer CTF Ww i date M y bi An FBI official sald | mont,.ef their contract meeting Wednesday night ; Tic Tac Cont'd Littlest Perrin Du Tac eos Oe eamitona, | merely that the pureay;f, dispute with town officials between the union executlve 43 | Dough Cont'd, : ar Hobo . ’ Cont'd au Tac AC et re eee waa investigating. aa: . fiteWectnanday. eng and illan, MacLeod, ve H . — ies ” " nn V poe Te . " w mai thaitman of: e town (00 7 Buck Muppet 4 Buck ©" Sreak 1 il 4 power. ou Poteots. Margene ine strike came almost 24 houra council's police commission. "5 1 Rogars Shaw Rogers Previews aie Chaine ine has used the power | volving the IRA. after police in Truro settled Earlier, the town council i Cont'd King ot Cont'd Stepping Les Grands regulaticn of some rallwaye, But security sources their ae alepule pith the sat , the at ating i Cont'd enalngion Cont'd Out aid privatel wo and return work, icemen the same salary — toring the Saat Depretsion police” and Y eat are In Amherst, negotiationa crease in absolute dollars 00 | Quincy Thurs Live All Cont'd and the uranium Piduntry looking for o man} between the Police as was agreed upon in Truro, 18 | Cont'd Night t Up Creatures Cont'd during the Second World | Delieved to have been { Association of Nova Scotia 4, .c° proposed contract was 30 | Cont'd Movie Soap Great & Cont'd _ War. born in Ireland and now | and town offictals were to ‘WZ#mlnously approved by 145, Cont'd How Cont’d Smail Cont'd living in the United |” start this af > striking policemen at & The offshore resources rt afternoon. The 17- meeting after negotiations “00 | Kare io Pa agreement states that Ot- Rates, He was sald to member Amherst police ended, 15 | Galumbo Plek Barnaby rie Cont'd tawa will continue to hold to Ireland and che ties . a | colo be Jones Mondiale Conta Jurisdiction for the | 1) Fastern Europe wiley Recession seen soon 45 | Cont'd Giris Cont'd - Cont'd o Wales Protec oo or tn defence. various Identities. WASHINGTON (AP) — — Witteveen said in a speech customs andexcise, shipping The “Jackal ap-| The world faces a serious to an ecoaomics aymposlum | ee ce cera [azer, | sndnuipten ern | pty ge OA) Seeley ety Oat : ight ‘ . wor Wiles Re te crt came | stand gmiadent | srumreietepumucts | leairceniney tee te ae td ua 45 | Show P.M. Final Cont'd Cont'd terprovihelal ‘trade and Rolls-Royce der caine | the International Moneta naw because of the recent nea. _ + y Teapes n :00 | Cont'd Kojak Late Columbo Cont'd PiTaiks on. details of the | 8d sources close to the Pune cha was In 1974, when oll- 118 | Cont'd Cont'd Show Cont'd Cont'd transfer areexpectal tatde | Toyal party said. ut Johannes Willeveen, exporting countries fitat 130 | Cont'd Cont'd Good Cont'd Coni’d onth3-as the two levels of | _Shearrivedan hour late who headed the IMF until drastically increased thelr 145 | Cont'd Cont'd Morning Cont'd Cont'd i rument seek agreement | st the centre in a bullet. last year, saidthe short-term prices, aos Jal disputes | Proof Cadillac, instead of | outlook for the U.S. dollar is He said it is unlikely those | ave ; the Rolls-Royce she had. |. bright because the currency countries will ever again been expected to use. Ww ibe aided by the recession allow a surplus of ae to FRIDAY 10 a.m. to 5 p.m =) a a States ame, “*VelOp that would ease the a Ae nen Bee ieee leading to price af SEE, 00 | New High Mister Webster Electric Passe. | 4 :15 | Rollers Oregaup Cont'd Company Partout Soviets [Wheel of Fri¢hdly What's Making Musie Negazine :45 | Fortune Glont_ Cooking Storles of Amer. [| Express supply 100 | Mind Sesame Mad Inside-Out Paysde .. a, 4 18 Readers Street Dash Ant Cari connalssancd, q — . . BA relief 0 Password Cont'd Definition Music Doctor ae ' T p ahi NGKOK (AP) — Soviet 45 | Plus Cont'd Cont'd Contd Doolittle errace tl IC Lidral y supplies OD the Mets :00 [ ps News . a River to Phriom P the 215 | of vs Coni‘d vor Connections Amour Cambodian sapital aed the lo Carol Al Coni’d wotidlen taeded gor fo. attend new regime there says it has 45 Tu i Burnett an Cont'd Las received about 200,060 tons of vee J Hamel Cont'd Caqueluches the -_ the at tet food trom Moscow and {ts 00 I The Today Coni'd Under Blue Un. Cont'd f 4 of $Y eee epean alles, of- 1 115 [ Doctors From Cont'd Explorers Cont'd ficlals in Bangkok said the 0 Another Cont'd Another Cover Journal : vessels presumably enter +45 [World Cont'd World Art Cart ot. Femme Satanday Octaler Zl the river at the coast of 4 southern Vietnam,. 320 :00 | Cont'd The Edge Cont'd Foolsteps d‘Aujour kilomet mei 2: Cont'd Of Night Cont’d Cont'd wrpede 2pm -4 pm ; from Phnom pom tren ‘sy ond rake cont'd Draw Man Les - tour the library It haa alse been announced | : rty td Wordsmith Atellers . come to the childrens ; that Soviet vessels are deliv- :00 T Movi Movi ; alloween costume par 8 food and other supplies "15 | What's Bob an Matinee crelings contd . meet Nadine Asante “author of to Cambodla’s seaport on the 330 T New Show Lady Stepping Animaux “history of Terrace” Western’ volte? athictate 45 | Pussy-cat Cont’d Liberty ot chez eux 4:00 pm het confirm the report ; . at th :00 | cont The ' Cont'd Sesame Bobino ~ Welcome & — ribbon cutting 200,000 tons at gee ent or Cont'd Flintstones Cont'd Street Cont'd by Mayor Dave Maroney om Penh government. 2301 Cont'd Alt in Cont'd Cont'd Alexandre : But they assume that the 143 | Cont'd The Family Cont'd Cont'd & le Rol deliveries have been sub- Btantial .