VOL. XXX

NO. 6

17-NOVEMBER-1986

GENERAL

API Chairman Calls for "Minimum Survival Price" for US Oil

The American Petroleum Institute (API) has warned that low oil prices pose athreat to US economic security, and has urged the government to take action toprotect the domestic oil industry before it is too late.

In a policy statement issued on 10 November at the beginning of its two-dayannual convention in Houston, the API asserted that "the dramatic declinein exploration activities and the...