Mandatory Oil Import Quota Program
- Mandatory Oil Import Quota Program
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The Mandatory Oil Import Quota Program was a program of import restrictions on oil into the United States, beginning in 1959. Created under Presidential Proclamation 3279, the scheme was intended to prevent a dependence of the United States on imported petroleum supplies. From 1962, the maximum level of imports was set at 12.2% of domestic production.[1]
References
- ^ Charles J. Cicchetti, Willian J. Gillen (July 1973). "The Mandatory Oil Import Quote Program: A Consideration of Economic Efficiency and Equity". Natural Resources Journal.
Categories: - History of the petroleum industry in the United States
- 1959 in the United States
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