U.S. IMPORTS OF OIL

Press, Volume LXXXIX, Issue 27038, 13 May 1953, Page 9

U.S. IMPORTS OF OIL

Producers Seek Protection

(Rec. 11 p.m.) WASHINGTON, May 11. A group of independent United States oil producers today asked Congress to limit oil imports to 10 per cent, of the domestic market. > They told the Ways and Means Committee of the House of Representatives that foreign qil, chiefly from Venezuela, Was coming into the United States at the rate of about 1,000.000 barrels a day—l 4 per cent, of home consumption—and was causing serious damage to domestic producers. The independent oil companies were supporting the legislation known as the Simpson Bill, a restrictive measure on trade and tariffs. The bill would impose a 10 per cent quota on oil imports. . Mr Charles Lyons, president of the independent Petroleum Association of America, said increasing supplies of foreign oil had forded the domestic industry to cut back its production. He said strong home production was essential to United States and Allied security, because in any new emergency the United States would be responsible for providing the bulk of petroleum for Allied defence.