[Weekly Compilation of Presidential Documents Volume 36, Number 13 (Monday, April 3, 2000)]
[Page 634]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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

 Note: This item was not received in time for publication in the 
appropriate issue.