OIL-IMPORT CURB: A Blow Against Freer Trade

FOR the fifth and final time last week, Defense Mobilizer Arthur S. Flemming issued a blunt warning to the U.S. oil industry to restrict oil imports voluntarily or face strict Government quotas. Noting that all imports have jumped 38% (to 1.4 million bbls. daily) since 1954, and currently comprise 20% of U.S. consumption, Defense Mobilizer Flemming told importers to cut next year's shipments from the Middle East by at least1% (to 299,000 bbls. daily), also announced that he hoped to reduce imports from Canada and Venezuela as well. Though the cuts are small, the principle is important. ODM's great fear...

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