The Mandatory Oil Import Quota Program was a program of

import restrictions Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations ...

on oil into the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

. Created in 1959 by

Presidential Proclamation A presidential proclamation is a statement issued by a US president on an issue of public policy and is a type of presidential directive. Details A presidential proclamation is an instrument that: *states a condition, *declares a law and require ...

3279 by President Dwight Eisenhower, the scheme was intended to prevent a dependence of the United States on imported petroleum supplies. From 1962, the maximum level of imports was set at 12.2% of domestic production. The program was established after an investigation by the director of the

Office of Civil and Defense Mobilization The Office of Civil and Defense Mobilization, created in 1958 originally as Office of Defense and Civilian Mobilization, was an office of the Executive Office of the President of the United States which consolidated the functions of the existing O ...

established that oil imports threatened to impair US national security. The import quota was lifted in 1973 by President

Richard Nixon Richard Milhous Nixon (January 9, 1913April 22, 1994) was the 37th president of the United States, serving from 1969 to 1974. A member of the Republican Party, he previously served as a representative and senator from California and was ...

References

{{reflist History of the petroleum industry in the United States 1959 in the United States Import