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STANDARD OIL COBiblio.com

FARM TRACTORS FUELS AND LUBRICANTS-ENGINEERING BULLETIN

United States Cabinet Task Force on Oil Import ControlBiblio.com

The Oil Import Question; A Report on the Relationship of Oil Imports to the National Security

197073326U. S. Government Printing Office 1970. Wraps. Very good. xiv 399 3 pages. Map. Appendices. Occasional footnotes. Figures. Tables. Index. Minor pencil erasure residue on title page. Cover has slight wear and soiling. On March 25 1969 the President created a Cabinet Task Force to conduct a comprehensive review of oil import restrictions; requested the Secretary of Labor to assume its chairmanship; named as the other members the Secretaries of State Treasury Defense Interior and commerce and the director of the Office of Emergency Preparedness; and added observers representatives of the Department of Justice Bureau of the Budget Council of Economic Advisers Office of Science and Technology Policy Office of the Special Trade Representatives and Federal Power Commission. Two of the members Secretary of the Interior and Secretary of Commerce did not associate themselves with this report and filed separate views. The Chairman of the Federal Power Commission also disassociated himself in full from the report and joined the two dissenting members in their expression of separate views. Secretary of the Interior Harold Ickes advocated the stockpiling of emergency crude oil in 1944. President Truman's Minerals Policy Commission proposed a strategic oil supply in 1952. President Eisenhower suggested an oil reserve after the 1956 Suez Crisis. The Cabinet Task Force on Oil Import Control recommended a similar reserve in 1970. But few events so dramatically underscored the need for a strategic oil reserve as the 1973-74 oil embargo. The cutoff of oil flowing into the United States from many Arab nations sent economic shockwaves throughout the Nation. In the aftermath of the oil crises the United States established the SPR. President Ford set the SPR into motion when he signed the Energy Policy and Conservation Act EPCA on December 22 1975. The legislation declared it to be U.S. policy to establish a reserve of up to one billion barrels of petroleum. The Gulf of Mexico was a logical choice for oil storage sites. More than 500 salt domes known to be an inexpensive and secure means of petroleum storage are concentrated along the coast. Also the Gulf Coast is the location of many U.S. refineries and distribution points for tankers barges and pipelines. In April 1977 the government acquired several existing salt caverns to serve as the first storage sites. Construction of the first surface facilities began in June 1977. On July 21 1977 the first oil - approximately 412000 barrels of Saudi Arabian light crude - was delivered to the SPR. Fill of the Nation's emergency oil reserve had begun. U. S. Government Printing Office paperback

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