(a) Scope of reportWithin ninety days after he has entered upon the office of Administrator or has been designated by the President to act in such office, the Administrator, or acting Administrator, as the case may be, with the assistance of the Department of Commerce, the Cost of Living Council, and the United States International Trade Commission shall, by written report, inform the Congress as to the—(1) effect of current petrochemical prices upon the current level of petrochemical exports, and export levels expected for 1975;
(2) effect of current and expected 1975 petrochemical export levels upon domestic petrochemical raw materials and products available to petrochemical producers, converters, and fabricators currently and in 1975;
(3) current contribution of petrochemical imports to domestic supplies and the expected contributions in 1975;
(4) anticipated economic effects of current and expected 1975 levels of domestic supplies of petrochemicals upon domestic producers, converters, and fabricators of petrochemical raw materials and products; and
(5) exact nature, extent, and sources of data and other information available to the Federal Government regarding the matters set forth in paragraphs (1) through (4) of this subsection, including the exact nature, extent, and sources of such data and information utilized in connection with the report required by this subsection.
(b) “Petrochemical” definedAs used in this section, the term “petrochemical” includes organic chemicals, cyclic intermediates, plastics and resins, synthetic fibers, elastomers, organic dyes, organic pigments, detergents, surface active agents, carbon black and ammonia.
(Pub. L. 93–275, § 23, May 7, 1974, 88 Stat. 113; Pub. L. 93–618, title I, § 171(b), Jan. 3, 1975, 88 Stat. 2009.)
Editorial Notes
Amendments1975—Subsec. (a). Pub. L. 93–618 substituted “United States International Trade Commission” for “United States Tariff Commission”.
Statutory Notes and Related Subsidiaries
Transfer of Functions
Federal Energy Administration terminated and functions vested by law in Administrator thereof transferred to Secretary of Energy (unless otherwise specifically provided) by sections 7151(a) and 7293 of Title 42, The Public Health and Welfare.
Executive Documents
Abolition of Cost of Living Council
Cost of Living Council abolished July 1, 1974, by Ex. Ord. No. 11788, § 1, June 18, 1974, 39 FR 22113.