564. Editorial Note
On February 26, the White House released a report on energy supplies and resources policy by the Cabinet Committee on Energy Supplies and Resources Policy, established by President Eisenhower in July 1954 to study the development of energy supplies in the United States. The report concluded that, in the interest of national security, [Page 1120] the balance between imports of crude and residual oil and domestic production of crude oil should remain the same as in 1954. Accordingly, the importing companies were requested to restrict imports of petroleum into the United States on a voluntary, individual basis. Throughout 1955 and 1956, there was considerable debate in Congress over possible legislative restriction. Documentation concerning United States oil policy and Venezuelan imports is in Department of State, Central Files 411.316 and 831.2553 and Ibid., ARA Files: Lot 59 D 12, Venezuela and Economic—Oil 1957.