Letter to Congressional Leaders on Imports of Crude Oil - Brief Article - Transcript

Weekly Compilation of Presidential Documents, May 8, 2000

April 28, 2000

Dear. Mr. Speaker: (Dear Mr. President:)

Pursuant to section 232(c) of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862(c)), I am notifying you that I concur with the findings of the Secretary of Commerce in his report, "The Effect on the National Security of Imports of Crude Oil and Refined Petroleum Products," which determined that imports of crude oil threaten to impair the national security.

Further, I have accepted his recommendation that trade remedies not be imposed but that existing policies to enhance conservation and limit the dependence on foreign oil be continued. I am taking this action because we have already proposed additional tax credits to promote renewable and efficient sources of energy, new tax incentives to support the domestic petroleum industry, and further investments in energy-saving technologies and alternative energy sources, as the report suggested.

Sincerely,

William J. Clinton

NOTE: Identical letters were sent to J. Dennis Hastert, Speaker of the House of Representatives, and Albert Gore, Jr., President of the Senate. This item was not received in time for publication in the appropriate issue.