Watching Government
Imports study

Once again, the Clinton administration is in a predicament over an oil-import policy question.This time, it's a US Department of Commerce study regarding whether rising crude and petroleum products imports threaten national security.The study's conclusion is not in doubt. Similar investigations in 1975, 1979, 1988, and 1995 determined that rising imports threatened national security. Imports are even higher today.The only question is what policy changes the administration will recommend.Oil prices were at a modern low when the study, under Sec. 232 of the Trade Expansion Act, was requested last year.The Clinton administration recognized that the study would help justify its propos...

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