592. Editorial Note
The Special Committee to Investigate Crude Oil Imports issued its report on July 29. Of importance to Venezuela was the Committee’s recommendation calling for crude oil importers to restrict voluntarily their imports into the United States to 90 percent of the average imports for the years 1954, 1955, and 1956. The Venezuelan Government initially displayed a lack of concern about the restrictions, emphasizing that the restrictions would cause little damage to the Venezuelan economy. Conversations held throughout August, however, between Venezuelan officials and various Department of State officials revealed a different attitude suggesting that the Venezuelans considered the restrictions in violation of the principles of reciprocal trade. Documentation reporting Venezuelan reactions is in Department of State, Central Files 411.316 and 411.006; ibid., ARA Files: Lot 59 D 12, Economic–Oil 1957; and ibid.: Lot 59 D 376, Venezuela 1957.