{{Short description|US import restrictions program (1959–1973)}} The '''Mandatory Oil Import Quota Program''' was a program of import restrictions on oil into the United States. Created in 1959 by Presidential Proclamation 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.<ref>{{cite journal |work=Natural Resources Journal |title=The Mandatory Oil Import Quote Program: A Consideration of Economic Efficiency and Equity |author=Charles J. Cicchetti, Willian J. Gillen |date=July 1973}}</ref>
The program was established after an investigation by the director of the Office of Civil and Defense Mobilization established that oil imports threatened to impair US national security.<ref>{{cite book |title=The Code of Federal Regulations of the United States of America |quote=crude oil and the principal crude oil derivatives and products are being imported in such quantities and under such circumstances as to threaten to impair the national security |chapter=Proclamation 3279: Adjusting imports of petroleum and petroleum products into the United States |date=January 1, 1966}}</ref>
The import quota was lifted in 1973 by President Richard Nixon.<ref>{{Cite web|url = http://www.sbcountyplanning.org/energy/information/1959Quota.asp|title = 1959 U.S. Quota on Foreign Oil Imports|date = 1992|accessdate = 17 Feb 2015|website = County of Santa Barbara|publisher = County of Santa Barbara|last = Yergin|first = Daniel}}</ref>
==References== {{reflist}}
Category:History of the petroleum industry in the United States Category:1959 in the United States Category:Import