Legislation on the International Energy Agency: Hearing Before the Subcommittees on International Organizations and on International Resources, Food, and Energy of the Committee on International Relations, House of Representatives, Ninety-fourth Congress, First Session, March 26, 1975U.S. Government Printing Office, 1975 - 79 pages |
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Common terms and phrases
accordance with Article acting by majority appropriate bargo barrels a day BINGHAM cartel cents Chairman CONANT Congress conservation consult with oil consuming countries cooperative crude oil demand restraint domestic economic effect embargo emergency measures Emergency Questions emergency reserve commitment ENDERS Federal Energy Administration final consumption floor price FRASER gasoline GILMAN going Governing Board Group on Emergency implement imported oil increase industry International Energy Agency International Energy Program investment legislation Management Committee meet ment million barrels national energy program oil companies oil imports Oil Market oil prices oil production oil supplies OPEC paragraph Participating Country percent petroleum petroleum products price of oil problem proposals protection provisional application Reduced speed limits ROBERT N. C. NIX Secretariat Section situation SOLARZ standby authorities Standing Group stocks strategic reserve sumer supply right term tion U.S. dollars United voting weights vulnerability
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Page 63 - Committee shall report to the Governing Board within a further 48 hours. The report shall set out the views expressed by the members of the Committee, including any views regarding the handling of the emergency. 3. Within 48 hours of receiving the...
Page 57 - Country to meet its emergency reserve commitment. 2. The Standing Group on Emergency Questions shall report to the Management Committee, which shall make proposals, as appropriate, to the Governing Board.
Page 70 - Article 51 1. The Governing Board shall adopt decisions and make recommendations which are necessary for the proper functioning of the Program. 2. The Governing Board shall review periodically and take appropriate action concerning developments in the international energy situation, including problems relating to the oil supplies of any Participating Country or Countries, and the economic and monetary implications of these developments.
Page 65 - The Standing Group on the Oil Market shall present a report to the Management Committee on consultations held with any oil company within 30 days thereof. 2. The Management Committee shall consider the report and may make proposals on appropriate co-operative...
Page 67 - ... identify specific data which are useful and necessary to resolve such problems and issues; work out precise standards for the harmonization of the required information in order to ensure comparability of the data ; work out procedures to ensure the confidentiality of the information. Article 31 1. The Standing Group on the Oil Market shall on a continuing basis review the operation of the General Section. 2. In the event of changes in the conditions of the international oil market, the Standing...
Page 78 - ... the period of self-sufficiency. 2. The Standing Group on Emergency Questions shall examine and report to the Management Committee on (a) the concept of and methods of measurement of stand-by oil production as referred to in paragraph 1, (b) the appropriateness of "the period of self-sufficiency" as a time limit, (c) the question of whether a given quantity of stand-by oil production is of greater value for purposes of emergency self-sufficiency than the same quantity of oil stocks, the amount...
Page 70 - Article 48 1. The Standing Group on Relations with Producer and other Consumer Countries will examine and report to the Management Committee on the matters described in this Chapter. 2. The Management Committee may make proposals on appropriate cooperative action regarding these matters to the Governing Board, which shall decide on such proposals. CHAPTER IX. INSTITUTIONAL AND GENERAL PROVISIONS Article 49 1. The Agency shall have the following organs: A Governing Board; A Management Committee; Standing...
Page 69 - CHAPTER VIII. RELATIONS WITH PRODUCER COUNTRIES AND WITH OTHER CONSUMER COUNTRIES Article 44 The Participating Countries will endeavour to promote cooperative relations with oil producing countries and with other oil consuming countries, including developing countries. They will keep under review developments in the energy field with a view to identifying opportunities for, and promoting a purposeful dialogue, as well as other forms of cooperation, with producer countries and with other consumer...
Page 63 - The Secretariat shall keep the Management Committee informed of its deliberations, and shall immediately report its finding to the members of the Committee and inform the Participating Countries thereof. The report shall include information on the nature of the reduction.
Page 71 - VII and any other function delegated to it by the Governing Board. 2. The Standing Group may review and report to the Management Committee on any matter within the scope of Chapter VII.