Proclamation 3386—Modifying Proclamation 3279 of March 10, 1959 Adjusting Imports of Petroleum and Petroleum Products

Whereas, pursuant to section 2 of the act of July 1, 1954, as amended (72 Stat. 678, 19 U.S.C. 1352a), I found and declared that adjustments must be made in the imports of crude oil, unfinished oils, and finished products so that such imports would not threaten to impair the national security and by Proclamation 3279 of March 10, 1959 (24 P.R. 1781), proclaimed such adjustments;

Whereas, I find and declare that adjustments must be made in the imports of crude oil and unfinished oils for overestimates and underestimates of total demand:

Now, Therefore, I, Dwight D. Eisenhower, President of the United States of America, acting under and by virtue of the authority vested in me by the Constitution and the statutes including section 2 of the act of July 1, 1954, as amended, do hereby proclaim that:

On and after January 1, 1961, Proclamation 3279 of March 10, 1959, as amended by Proclamation 3290 of April 30, 1959, and Proclamation 3328 of December 10, 1959, is hereby further amended as follows:

Subparagraph (1) of paragraph (a) of section 2 is amended to read as follows:

(a) (1) In Districts I-IV the maximum level of imports of crude oil, unfinished oils, and finished products other than residual fuel oil to be used as fuel shall be approximately the amount equal to the arithmetical product, adjusted as provided in this subparagraph, of the total demand in these districts as estimated by the Bureau of Mines for periods fixed by the Secretary of the Interior multiplied by 9 percent. The level so determined for an allocation period shall be increased or decreased by 9 percent of the amount by which the estimated total demand for the allocation period (for imports of crude oils and unfinished oils) most recently ended fell short of or exceeded the actual total demand for that allocation period. Within this maximum level, imports of finished products other than residual fuel oil to be used as fuel shall not exceed the level of imports of such products into these districts during the calendar year 1957 and imports of unfinished oils shall not exceed 10 percent of the permissible imports of crude oil and unfinished oils.

In Witness Whereof, I have hereunto set my hand and caused the Seal of the United States of America to be affixed.

DONE at the City of Washington this twenty-fourth day of December in the year of our Lord nineteen hundred and sixty, and of the Independence of the United States of America the one hundred and eighty-fifth.

DWIGHT D. EISENHOWER

By the President:

LIVINGSTON T. MERCHANT,

Acting Secretary of State