U.S. Oil Companies' Involvement in the International Energy Program

The Energy Policy and Conservation Act allows U.S. oil companies to participate in the International Energy Program (IEP) and provides for Government monitoring to prevent anticompetitive activities. An allocation systems test was conducted in Paris from October 4 to November 18, 1976, to assess the International Energy Agency's (IEA's) ability to respond to an emergency supply disruption. The test's two main purposes were to assess certain aspects of the data systems' procedures and rules relating to allocation and to evaluate the proposed emergency management organization with respect to the roles of the Industry Supply Advisory Group (ISAG), IEA Secretariat, and IEA Allocation Coordinator. During an emergency, the ISAG would coordinate, under the Secretariat's guidance, the allocation of oil among participating countries.