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EMD-82-43 1 (1982-02-24)

handle is hein.gao/gaobabcym0001 and id is 1 raw text is: III I I III~m l i I III REPORT BY THE U.S. General Accounting Office Possible Energy Effects Of A U.S. Ban On Libyan Oil Imports Under current slack market conditions, a ban on trade with Libya is not likely to have a major impact on U.S. oil supplies or prices. Current U.S.. oil imports from Libya are small, and oil is readily available from other sources. Libya could experience a temporary loss of oil revenues until it found new customers. Tight market con- ditions--unlikely in 1982--would maximize the potential adverse effects on the United States and minimize those on Libya. U.S. oil compa-. nies--both those producing and refining Libyan oil--are more likely to feel the adverse effects of a trade ban than the United States as a whole. Although a ban would probably prevent direct imports of Libyan oil from entering the United States, some Libyan oil could still enter the country as products refined elsewhere. 117671 EMD-8243 FEBRUARY 24, 1982

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