OIL: Quota on Imports

The 18 biggest U.S. petroleum producers were over an oil barrel last week. Defense Mobilizer Arthur S. Flemming warned them that unless oil imports are cut voluntarily, the President may slap a rigid quota on imports to protect small U.S. producers. Flemming's suggestion: the oil companies should get together and work out an industry plan to restrict imports. The oil companies, which have had more than their share of antitrust suits, were not eager to work out any scheme that would, in effect, slice up a market between them. Furthermore, they do not agree with Flemming that imports have...

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