Page:United States Statutes at Large Volume 90 Part 2.djvu/1605

 PROCLAMATION 4412—JAN. 3, 1976 Proclamation 4412

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90 STAT. 3073 January 3, 1976

Modifying Proclamation No. 3279,^ as Amended, Relating to Imports of Petroleum and Petroleum Products, and Providing for the Long-Term Control of Imports of Petroleum Products Through a System of License Fees

By the President of the United States of America A Proclamation WHEREAS, pursuant to Section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862), the Secretary of the Treasury investigated the eflfects on the national security of imports of crude oil and the principal crude oil derivatives and products, and advised me that crude oil, the principal crude oil derivatives and products, and related products derived from natural gas and coal tar, were being imported in such quantities and under such circumstances as to threaten to impair the national security, and recommended that I take action to reduce such imports; and WHEREAS, having considered the matters required by me to be considered by the said Trade Expansion Act of 1962, as amended, I issued Proclamation No. 4341 to adjust such imp>orts by accelerating the base fees and imposing a supplemental fee; and

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WHEREAS, Congress has passed, and I have approved, legislation which establishes programs to reduce the vulnerability of the United States to interruptions in the importation of petroleum; and WHEREAS, such legislation also provides for a system of price controls which will allow gradual increases in the cost of domestic petroleum to levels substantially above those which prevail at present and should, in the long term, promote petroleum conservation and tend to discourage the ipiportation into the United States of petroleum and petroleum products; and WHEREAS, I have thus determined that the purposes of the supplemental fee will be served by such legislation, and that it is consistent with the national security to eliminate the supplemental fee effective December 22, 1975; and WHEREAS, in order to offset the relative advantages of locating refining capacity abroad, and to earry out the other long term objectives of the import program established pursuant to Proclamation No. 4210 of April 18, 1973, I have determined to retain the base fees at this time; and WHEREAS, certain modifications to the Mandatory Oil Import Program are necessary to facilitate the availability of cruide oil supplies to United States users through exchanges of Canadian and United States crude oil, and for other purposes; NOW, THEREFORE, I, GERALD R. FOR D, President of the United States of America, acting under and by virtue of the authority vested in me by the Constitution and the laws of the United States, including Section 232 of the Trade Expansion Act of 1962, as amended, do hereby proclaim that, effective as of December 22, 1975, Proclamation No. 3279, as amended, is hereby amended as follows: 19 USC 1862 note. • 24 FR 1781; 3 CFR, 1959-1963 Comp., p. 11.

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