OIL: Mandatory Controls?

The Government moved a step closer to mandatory controls of oil imports. In its report last week to President Eisenhower, the Office of Civil and Defense Mobilization recommended a new compulsory import schedule to replace the voluntary curbs, which OCDM apparently felt have not cut imports enough.

The President extended the voluntary program till March 10, while he and his special Cabinet committee on oil imports study the OCDM recommendations. These are reported to include a limit on imports of crude oil and other petroleum products of 1,025,000 bbl. daily, compared to 1,113,600 bbl. daily under the voluntary system. The compulsory scheme would be enforced by a Government administrative agency. Other recommendations made by OCDM reportedly call for1) a sliding scale of import quotas for smaller oil companies, based on the imports between March1 and Sept.1, 1958; 2) no cuts of more than 20% from voluntary quotas for any major importer; 3) no cutbacks on imports of residual oil for industrial and home heating.