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ID-83-15 1 (1982-11-12)

handle is hein.gao/gaobabdsw0001 and id is 1 raw text is: U\J , IJ RELEASED Ijqq j BY THE U.S. GENERAL ACCOUNTING OFFICE Report To Senator Howard M. Metzenbaum Determination Of Oil Price In The Irternational Emergency Sharing System-- n Unresolved Issue C untries have become increasingly con- ce ned over how to determine the price of oil that would be shared in an international erergency. However, they have been unable to, agree on how pricing considerations cotuld be included in a test of the interna- tional oil sharing system. T e United States has taken the position th pt testing price in an artificial environ- m 0nt could establish false pricing stand- ar, s that might compromise the effective- n ss of the system for an actual emergency. S me other countries have contended that thp inability to integrate the pricing element in o the test underscores the difficulties that may occur in an emergency. R~gardless of whether the pricing element is included in test, underlying differences remain between the United States and other countries on pricing principles to be used in an emergency. These differences should be resolved to minimize the prob- lelms that might be encountered if and when the Emergency Sharing System is activated. 119941 GAO/ID-83-15 NOVEMBER 12, 1982 3 c 17 C71'*':'- '1'! 0 speckle I' approval

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