Oil: The Fight over Quotas

The newest and hottest oil scramble last week centered on what has traditionally been one of the industry's most lucrative fields of endeavor: Washington. At issue is the Nixon Administration's policy, now in the formative stage, for dealing with the flow of cheap foreign oil into the U.S. The report of a Cabinet Task Force recommending changes in the current system of restrictive import quotas is expected to land on the President's desk this week. Its contents are officially secret, but enough details have already leaked to roil the industry and start what promises to develop into...

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