International records / Foreign Relations of the United States
12. Memorandum From the Director of the White House Energy Policy Staff ( Freeman ) to the Executive Director of the Cabinet Task Force on Oil Import Control ( Areeda )
meet world market competition. [Footnote in the original.] In any event, some imports from outside the Western Hemisphere are necessary because we would not want to shut off the U.S. market to such friendly oil producing nations as Indonesia, Iran, Nigeria and others now and in the future. It would, therefore, seem desirable to utilize the availability of low-priced Middle Eastern oil to provide some degree of competition for Western Hemisphere sources. One option is complete free trade. However, complete free trade does raise a problem of supply interruptions, poses a threat to Venezuelan sal…
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