Summary: In a review of U.S. participation in the International Energy Agency (IEA) to be completed in the spring of 1980, GAO focused on relevant legal and antitrust matters, freedom of information issues, and general operational questions concerning the economic, foreign policy and energy policy costs and benefits to the United States. Discussions were held with the Department of State, the Department of Justice, the Department of the Treasury, and the Federal Trade Commission, and appropriate U.S./IEA records of these agencies were selectively reviewed. Representatives of U.S. oil companies participating in the IEA were contacted for verification of IEA information, and IEA Industry Advisory Board meetings involving U.S. and foreign oil companies, and officials from the IEA Secretariat, the European Economic Community, and the U.S. Government were monitored. It was found that U.S. participation in the IEA has been beneficial to the United States and all member countries. Under the IEA Agreement the United States has formal IEA voting power as a delegate and considerable informal influence. The antitrust defense provided to U.S. oil companies participating in the International Energy Program and the IEA was authorized by Federal legislation. The aspects of the antitrust safeguards of the U.S. Government causing concern among the American public and members of participating companies fall into three general categories: (1) uncertainties resulting from the absence of a U.S. plan of action; (2) classification of monitoring data; and (3) administrative problems. Until the Department of Energy prescribes a U.S. Plan of Action, clarifying the circumstances in which the antitrust defense would be available during an emergency, the U.S. oil companies have no assurance that they could undertake actions necessary to mitigate the international energy emergency without subjecting themselves to antitrust suits. Due to trade secrets and protection of foreign policy interest, substantial portions of the transcripts of the meetings are classified and unavailable to the public. Advance clearances, required of the oil companies and associated with industry advisory meetings, are granted by the Department of Energy. These clearances are sometimes not received until hours before the meeting; without them U.S. oil companies would not be able to participate, and the meetings would not be held.
