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EMD-79-88 1 (1979-08-27)

handle is hein.gao/gaobaazsd0001 and id is 1 raw text is: COMPTROLLE'R GEN EftAL OF THE UNITED STATES WASHINGTON, D.C. a841 B-178205 AUGUST 27,1979 The Honorable Henry M. Jackson RELEASED Chairman, Committee on EnergyS, 3, and Natural Resources United States Senate RESTRICTED - Not to be released outside the General AccoounU:S., Ofice excelt on tlLo -azs of speciic approval Dear Mr. Chairman: laY the Office of Congressional Relations. This is our response to your March 8, 1979, request for an examination of the apparent shortages caused by the Iranian oil cutoff, and for an analysis of measures the United States could take to reduce demand and increase domestic energy supplies. This letter summarizes our review of the measures i1 contained in the Department of Energy's (DOE's) Iranian tRponse Plan from the perspective of whether the meA1res can reasona y be expected to achieve the desired results in the timeframes indicated. Enclosure I contains our detailed comments on each of the measures. BACKGROUND DL In early March 1979, the United States entered into a commitment with the International Energy Agency (IEA) to lower petroleum consumption by up to 5 percent. This com- mitment would lessen the Nation's need for imports and thus help stabilize the world oil market, reduce upward pressures on oil prices, and rebuild petroleum stocks drawn down during the cutoff. The U.S. obligation under the agreement is to reduce its demand for imports by up to 1 million barrels per day (B/D) by the end of 1979. The President outlined the steps needed to achieve this goal in his April 5, 1979, energy speech and an accom- panying fact sheet. Later, DOE issued a more detailed dis- cussion of the specific measures to be implemented in a report entitled Response Plan: Reducing U.S. Impact on the World Oil Market. To achieve the IEA commitment, the Response Plan pro- poses measures to reduce the need for imports by both de- creasing U.S. petroleum consumption and increasing domestic production./These measures are intended to enableU.S. EMD-79-88 110449 (003473)

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