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INTERNATIONAL INVESTMENT SURVEY ACT

AUTHORIZATION FOR FISCAL YEARS 1980 AND 1981

HEARING AND MARKUP

BEFORE THE

SUBCOMMITTEE ON INTERNATIONAL ECONOMIC
POLICY AND TRADE

OF THE

COMMITTEE ON FOREIGN AFFAIRS
HOUSE OF REPRESENTATIVES

NINETY-SIXTH CONGRESS

FIRST SESSION

ON

H.R. 3653

51-723

APRIL 26, 1979

Printed for the use of the Committee on Foreign Affairs

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON: 1979

SUBCOMMITTEE ON INTERNATIONAL ECONOMIC POLICY AND TRADE
JONATHAN B. BINGHAM, New York, Chairman

DON BONKER, Washington
DONALD J. PEASE, Ohio
MICHAEL D. BARNES, Maryland
HOWARD WOLPE, Michigan

ROBERT J. LAGOMARSINO, California
PAUL FINDLEY, Illinois

BENJAMIN A. GILMAN, New York

R. ROGER MAJAK, Subcommittee Staff Director
TABOR E. DUNMAN, Jr., Minority Staff Consultant
VICTOR C. JOHNSON, Subcommittee Staff Associate
PAULA BELKNAP, Subcommittee Staff Associate

(II)

79673884

KF27

F6465

1979

CONTENTS

WITNESSES

John R. Karlik, Deputy Assistant Secretary for International Economic Page

Analysis, Department of the Treasury__

Peter C. Borre, Deputy Assistant Secretary for International Energy

Resources, Department of Energy--.

George R. Kruer, Chief, International Investment Division, Bureau of

Economic Analysis, Department of Commerce_.

Milton A. Berger, Director, Office of Foreign Investment in the United

States, Department of Commerce_.

Charles F. Meissner, Deputy Assistant Secretary for International Finance

and Development, Bureau of Economic and Business Affairs, Depart-

ment of State___.

MATERIAL SUBMITTED FOR THE RECORD

Foreign direct investment in all U.S. industries and in petroleum___.

U.S. direct investment in petroleum and in all other foreign industries____

Foreign sources of direct investment in U.S. petroleum----

Number of respondents in, and burden of, surveys of foreign direct in-

vestment in the United States---

Foreign direct investment position at yearend, 1962-77__

Foreign direct investment in the United States in incorporated affiliates__

Letter dated November 22, 1978, from C. L. Haslam, General Counsel,

Department of Commerce, to Hon. Benjamin S. Rosenthal, chairman.

Subcommittee on Commerce, Consumer and Monetary Affairs, House

of Representatives

Statement of Howard W. Hjort, Director of Economics, Policy Analysis

and Budget, Department of Agriculture----

APPENDIXES

1. Text of H.R. 3653, a bill to authorize appropriations for the fiscal years

1980 and 1981 under the International Investment Survey Act of 1976,

and for other purposes---

2. Letter from Hon. Benjamin S. Rosenthal, chairman, Subcommittee on

Commerce, Consumer, and Monetary Affairs, House of Representa-

tives, to Hon. Jonathan B. Bingham__.

3. Letter from Jacob Clayman, president. Industrial Union Department,

AFL-CIO, to Hon. Jonathan B. Bingham__.

(III)

2

6

12

22

23

778

14:

16.

17

19.

34-

43:

44

46.