Date: October 8, 1975
Subject: Oil/Gas Ownership Restrictions
Description: Abourezk (D-SD) amendment to the Bentsen (D-TX)-Pearson (R-KS) substitute amendment for the bill, to require major oil and gas companies to divest themselves of vertically integrated holdings within five years, so that they operate in only one area -- production, refining, transportation or marketing. This anti-free enterprise amendment would have made energy exploration more costly and increased prices for consumers.
Result: Amendment Rejected, 45-54
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