Soviet Oil in East-west Trade: Hearing...87-2...July 3, 1962

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94 ÆäÀÌÁö - War, a study prepared by the Library of Congress at the request of the Subcommittee to Investigate the Administration of The Internal Security Act and Other Internal Security Laws of the Committee on the Judiciary, US Senate, 87th Congress, 1st Session, Washington, 1961, p.
5 ÆäÀÌÁö - DC, then and there to testify what you may know relative to the subject matters under consideration by said committee.
5 ÆäÀÌÁö - Hereof fail not, as you will answer your default under the pains and penalties in such cases made and provided. To Forest A.
2 ÆäÀÌÁö - This is not dumping for economic reasons but for political and military reasons. They are using oil to buy valuable machinery and know-how from the West. They have even succeeded in exchanging oil for the pipelines, valves and tankers which they must procure from free world sources in order to produce and distribute oil at a rapidly accelerating rate. If these tactics continue to succeed, there is danger that Western countries will become increasingly dependent on Soviet oil supplies for vital defense...
35 ÆäÀÌÁö - We value trade least for economic reasons and most for political purposes.
2 ÆäÀÌÁö - Khrushchev has threatened to bury us on more than one occasion. It is now becoming increasingly evident that he would also like to drown us in a sea of oil if we let him get away with it. ... If these tactics continue to succeed, there is danger that Western countries will become increasingly dependent on Soviet oil supplies for vital defense as well as industrial activities. The danger such a situation would pose to the security of the free world cannot be...
47 ÆäÀÌÁö - The relative volume of USSR oil moving in international trade is small, and it will still not be large in 1965, but the importance of the Soviet oil trade is that it will encompass more than economic consideration in world affairs." The last quotation to which I referred is being corroborated in more recent findings. In the New York Times issue of Sunday, May 21, on page 1 of section 3 there appears an article entitled "Russian Oil Fuels Industrial Drive...
81 ÆäÀÌÁö - Although the net export figures in part 3 of Table 7 are less accurate than the rest of the table, since they include the residual errors in the published figures, they do indicate the broad directions of the international movement of energy materials. The United States is an exporter of coal and an importer of oil but an energy importer on balance; Other Western Hemisphere is an importer of coal and a heavy exporter of oil, hence an energy exporter on balance. Western Europe is an importer both...
25 ÆäÀÌÁö - I would summarize by stating that the Soviet economic offensive of the last 8 years has created a power monster. This monster is growing at an accelerating rate. In a matter of another decade or two, it will have produced for the Soviet Union an industrial capability that could make economic vassals of Europe and Japan that made it possible, and that could undermine the security of the United States which has ignored it.
124 ÆäÀÌÁö - To reduce the strategic vulnerability of Western Europe to a shutdown of oil from the Middle East or the USSR, it is necessary to maintain capacity in more "reliable" areas, particularly in the Western Hemisphere.

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