In 1959, the cap on foreign oil imports as a share of domestic consumption was set at what percent?

In 1959, the cap on foreign oil imports as a share of domestic consumption was set at what percent?

• A. 5 percent
• B. 10 percent
• C. 20 percent
• D. 13 percent

Answer: (D)

The main idea here is a ceiling on how much of a country’s oil use can come from foreign sources, expressed as a percentage of total domestic oil consumption. In 1959, that ceiling was set at 13 percent, meaning imports could not exceed 13% of what the country used domestically. This policy aimed to shield domestic producers and reduce vulnerability to international supply disruptions during that era. Other percentages would not reflect the actual policy limit in that year, so 13 percent is the correct figure.

The main idea here is a ceiling on how much of a country’s oil use can come from foreign sources, expressed as a percentage of total domestic oil consumption. In 1959, that ceiling was set at 13 percent, meaning imports could not exceed 13% of what the country used domestically. This policy aimed to shield domestic producers and reduce vulnerability to international supply disruptions during that era. Other percentages would not reflect the actual policy limit in that year, so 13 percent is the correct figure.