World News Tonight (ABC) - 2001-07-25
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Read a transcript preview of “World News Tonight (ABC) - 2001-07-25” from malgent, uploaded on 2025-04-01.
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Language: English (original, YouTube automatic captions)
[0:00] economy be affected. A new study says
[0:02] insurance premiums for health care may
[0:05] go through the roof. We'll take a closer
[0:07] look tonight at what happened when a
[0:08] priest kept the secret of a man who
[0:11] confessed to murder and another man went
[0:13] to prison.
[0:14] The government comes to the aid of
[0:16] Western farmers, water for now, but is
[0:19] it enough?
[0:20] And ABC's Mike Lee on the road to
[0:22] anywhere tonight, proving their manhood
[0:25] with a leap of faith.
[0:30] From ABC News world headquarters in New
[0:33] York,
[0:34] this is World News tonight with Peter
[0:36] Jennings.
[0:37] Good evening, everyone. The price of oil
[0:38] went up again today. The international
[0:40] oil cartel OPEC, which produces 40% of
[0:44] the world's oil, has decided to produce
[0:45] a million barrels less a day as of
[0:48] September the 1st.
[0:50] And so the price went up 53 cents a
[0:52] barrel to $26.84.
[0:55] ABC's Betsy Stark is here tonight to
[0:58] remind us that so much of so many
[0:59] economies runs on oil.
[1:01] And since that's so, Peter, the big
[1:02] question today was what impact OPEC's
[1:05] move would have on all those economies.
[1:07] Rising oil prices are unwelcome almost
[1:09] anytime, but particularly at a moment
[1:12] when the economy here and economies
[1:14] abroad are so weak. The president warned
[1:17] OPEC today to proceed carefully with its
[1:19] production cuts. Stabilizing oil prices
[1:22] is one thing, he said, running them up
[1:25] would be another.
[1:26] Our economy is
[1:27] um
[1:29] bumping along right now, and a run up in
[1:31] energy prices would hurt.
[1:33] And uh surely the OPEC leaders
[1:35] understand that. I I think they do.
[1:39] High energy prices act like a tax on the
[1:41] US economy, leaving co