US oil company participation in the International Energy Program. Eleventh semi-annual report to the Congress and the President
This publication is a semiannual report on the impact on competition and small business of US oil company participation in the IEP activities. IEA's response to the oil supply disruption created by the Iran/Iraq war is discussed. The proposed Plan of Action released by the DOE on May 8, 1981 is described. The report reviews the subjects discussed at meetings of the IAB and Subcommittees A and C during the reporting period. One important issue addressed at these meetings was the potential effectiveness of the allocation system. The report describes industry advice on the date to begin oil sharing after system activation. Another passage focuses on the controversies surrounding the reporting of stocks at sea and the monitoring of oil markets during non-crisis periods. Industry advice concerning emergency stock policy is reviewed. The review of industry activities during this six-month reporting period has disclosed no adverse effects on competition or small business. The allocation system was not activated, no proprietary information was exchanged among the companies, and, except as noted in the discussion of sub-trigger situations, the topics discussed were confined to those for which an antitrust defense is authorized by Section 252. To assist the Secretariat in analyzing the disruption resulting from the Iran-Iraq war, the industry did receive non-public IEA Secretariat forecasts and discussed the short-term oil supply outlook with the Secretariat. While under some circumstances these activities may have anticompetitive potential, the Commission does not believe that any adverse effects on competition actually occurred; we have no evidence that supply actions were taken by companies as a result of access to this information or participation in the meetings.
- Research Organization:
- Federal Trade Commission, Washington, DC (USA)
- OSTI ID:
- 5696384
- Report Number(s):
- NP-290144; ON: DE82901444
- Country of Publication:
- United States
- Language:
- English
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POLICY AND ECONOMY
02 PETROLEUM
INTERNATIONAL COOPERATION
ECONOMIC IMPACT
PETROLEUM INDUSTRY
COMPETITION
INTERNATIONAL ENERGY AGENCY
PLANNING
SUPPLY DISRUPTION
USA
COOPERATION
INDUSTRY
INTERNATIONAL ORGANIZATIONS
NORTH AMERICA
294002* - Energy Planning & Policy- Petroleum
020700 - Petroleum- Economics
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