    [Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (2000, Book I)]
    [March 24, 2000]
    [Page 533]
    [From the U.S. Government Publishing Office www.gpo.gov]

    [[Page 533]]

    Memorandum on the Effect of Imports of Crude Oil on National Security
    March 24, 2000

    Memorandum for the Secretary of Commerce

    Subject: The Effect of Imports of Crude Oil on National Security

        I have reviewed and approved the findings of your investigative
    report titled ``The Effect on the National Security of Imports of Crude
    Oil and Refined Petroleum Products'' under section 232 of the Trade
    Expansion Act, as amended (19 U.S.C. 1862), that imports of crude oil
    threaten to impair the national security. Further, I accept your
    recommendation that trade remedies not be imposed, but that existing
    policies to enhance conservation and limit the dependence on foreign oil
    be continued. Indeed, we have already proposed additional tax credits to
    promote renewable and efficient sources of energy, new tax incentives to
    support the domestic petroleum industry, and further investments in
    energy-saving technologies and alternative energy sources, as this
    report suggested.

                                                          William J. Clinton