OIL: Mandatory Controls?

The Government moved a step closer to mandatorycontrols of oil imports. In its report last week to PresidentEisenhower, the Office of Civil and Defense Mobilization recommended anew compulsory import schedule to replace the voluntary curbs, whichOCDM apparently felt have not cut imports enough.

The President extended the voluntary program till March 10, while he andhis special Cabinet committee on oil imports study the OCDMrecommendations. These are reported to include a limit on imports ofcrude oil and other petroleum products of 1,025,000 bbl. daily,compared to 1,113,600 bbl. daily under the voluntary system. Thecompulsory scheme would be enforced by a Government administrativeagency. Other recommendations made by OCDM reportedly call for1) asliding scale of import quotas for smaller oil companies, based on theimports between March1 and Sept.1, 1958; 2) no cuts of more than 20%from voluntary quotas for any major importer; 3) no cutbacks on importsof residual oil for industrial and home heating.

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