344. White House Press Release0
STUDY OF PETROLEUM SECURITY OBJECTIVES BY THE OFFICE OF EMERGENCY PLANNING
Proposals of the Secretary of the Interior to amend Proclamation 32791 governing the allocation of oil import quotas have been under consideration for the past several weeks. The President announced today that a comprehensive study of petroleum requirements and supplies in relation to national security objectives will be undertaken under the leadership of the Director of the Office of Emergency Planning, to be completed by mid-1962.2
The study will take into account not only the welfare of the domestic petroleum industries, but also the need to promote the Nation’s economic growth in the face of rapid technological and world changes. The study group has been asked to make recommendations on alternative means of achieving our security objectives and providing a basis for increasing our strength to compete in the free world.
Since the study will include a review of the mandatory oil import quota program, it will provide a basis for the consideration of any changes in the existing program that may be necessary. In the meantime, allocations of oil import quotas will continue to be made under the existing proclamation.
- Source: Kennedy Library, National Security Files, Kaysen Series, Economic Policy, Oil Policy. No classification marking.↩
- Proclamation 3279, “Adjusting Imports of Petroleum Products into the United States,” signed by President Eisenhower on March 10, 1959; 73 Stat. c25.↩
- Frank B. Ellis, Director of the Office of Emergency Planning, subsequently announced the appointments to the Petroleum Study Committee, as follows: Edwin M. Martin (State), James A. Reed (Treasury), Paul H. Riley (Defense), Nicholas deB. Katzenbach (Justice), John M. Kelly (Interior), Eugene Foley (Commerce), and W. Willard Wirtz (Labor). (Office of Emergency Planning, Executive Office of the President, Press Release 17, December 21; Kennedy Library, National Security Files, Kaysen Series, Economic Policy, 12/61-1/62)↩