About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

EMD-79-97 1 (1979-09-13)

handle is hein.gao/gaobaazqv0001 and id is 1 raw text is: 



BY THE COMPTROLLER GENERAL                                    I(o     qg



Report To The Congress


OF THE UNITED STATES





Iranian Oil Cutoff: Reduced

Petroleum Supplies And Inadequate

U.S. Government Response


The Iranian oil cutoff had varied effects on U S oil compa
nies, and the Department of Energy was ill prepared to keep
informed of the situation and to deal with its effects

     -The U S supply of crude oil during the first 4 months
     of 1979 was reduced by 600,000 to 700,000 barrels a
     day compared to the average daily supply in 1978
     This contributed to companies not increasing their
     production of gasoline and other petroleum products

     --GAO found no evidence that the oil companies cre
     ated the U S crude oil shortage, however, situations
     developed as a result of, or at about the same time as,
     the Iranian shortfall which could have been used by
     the companies to their advantage

     --The Department needs to be better prepared for deal
     ing with energy shortages As a result, the Secretary
     of Energy should develop

           --A comprehensive plan for dealing with short-
           ages

           --A system for better identifying demand and
           consumption of petroleum products

           A reliable system for gathering and publishing
           accurate, complete, and timely energy data


                 ) g                                           110348
                                                               11034 EMD 79 97



                                                            SEPTEMBER 13, 1979

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Already a HeinOnline Subscriber?

profiles profiles most