International energy agency

INTERNATIONAL ENERGY AGENCY
2, RUE ANDRÉ-PASCAL, 75775 PARIS CEDEX 16, FRANCE
The International Energy Agency (IEA) is an autonomous body which was established in November 1974 within the framework of the Organisation for Economic Co-operation and Development (OECD) to implement an international energy programme. It carries out a comprehensive programme of energy co-operation amongtwenty-three* of the OECD’s twenty-four Member countries. The basic aims of the IEA are: i) co-operation among IEA participating countries to reduce excessive dependence on oil through energy conservation, development of alternative energy sources and energy research and development; ii) an information system on the international oil market as well as consultation with oil companies; iii) co-operationwith oil producing and other oil consuming countries with a view to developing a stable international energy trade as well as the rational management and use of world energy resources in the interest of all countries; iv) a plan to prepare participating countries against the risk of a major disruption of oil supplies and to share available oil in the event of an emergency.
* IEA participatingcountries are: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom, the United States. The Commission of the European Communities takes part in the work of the IEA.

ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT
Pursuant toArticle 1 of the Convention signed in Paris on 14th December 1960, and which came into force on 30th September 1961, the Organisation for Economic Co-operation and Development (OECD) shall promote policies designed: — to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus tocontribute to the development of the world economy; — to contribute to sound economic expansion in Member as well as non-member countries in the process of economic development; and — to contribute to the expansion of world trade on a multilateral, non-discriminatory basis in accordance with international obligations. The original Member countries of the OECD are Austria, Belgium, Canada, Denmark,France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The following countries became Members subsequently through accession at the dates indicated hereafter: Japan (28th April 1964), Finland (28th January 1969), Australia (7th June 1971) and New Zealand (29th May 1973). TheCommission of the European Communities takes part in the work of the OECD (Article 13 of the OECD Convention). Any reference in the present publication to States, entities or territories which do not belong to the OECD shall neither imply their recognition by OECD Member States nor approval by OECD Member States of the designations used in the publication.

© OECD/IEA, 1994 Applications for permissionto reproduce or translate all or part of this publication should be made to: Head of Publications Service, OECD 2, rue André-Pascal, 75775 PARIS CEDEX 16, France

THE HISTORY OF THE INTERNATIONAL ENERGY AGENCY

VOLUME II

MAJOR POLICIES AND ACTIONS OF THE IEA

Table of Contents
Table of Abbreviations .........................................................................9 Chapter IIntroduction........................................................................13

Chapter II

Energy Policy Overview .............................................23

A. Introductory Summary....................................................................... 23 B. Energy Policy Origins of the 1973 - 1974 Oil Supply Vulnerability: The Optimistic-passive Approach to Oil Policy...