Congressman Peter H. Dominick (R-Colo.) delivers his radio address, a Brief report, on October 23, 1961. Rep. Dominick discusses the oil and gas industries in the United States and the Soviet Union, comparing how oil exploration and discovery in the U.S. may be restricted due to a new Dept. of Interior policy on awarding leases, while the Soviet Union is opening new oil fields and expanding into new markets. Dominick also discusses the danger that low Soviet oil prices pose to world markets and the Soviet's use of oil as a means to politically manipulate their trading partners.