ABSTRACT
The sole purpose of the National Petroleum Council in J949 was to counsel the secretary of the Department of the Interior on issues relating to petroleum or the petroleum industry. "The Role of American Oil in the World," Mr. Levy's subject, had two aspects that were central to the presentation: the magnitude of the role of American oil companies in supply and in the terms on which oil could be obtained. The American oil industry is at present uncertain about its role in the world's oil industry, and somewhat fearful of the impact which foreign production, marketing, and general economic developments may have on its future. As long as the United States was a major supplier to all the other countries of the world, the delivered price from the United States and from most foreign sources of supply was calculated as the US Gulf price plus transportation from the US Gulf to the destination.
