LETTER TO THE PRESIDENT FROM BENJAMIN S. ROSENTHAL REGARDING OPEC INVESTMENTS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP83M00914R002100160064-6
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 4
• Document Creation Date: December 20, 2016
• Document Release Date: February 22, 2007
• Sequence Number: 64
• Publication Date: February 9, 1982
• Content Type: LETTER

EXECUTIVE SECIRETAMAT
Routing Slip
Per my cers-ation with Mr. Gates,
D/OGI will provide DCI ASAP results of
interagency 'Re-review" of material by
senior officers.
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L DDC
3 DilCS
4 ! DD/NFA
DD/A
6 DD;O
7 DO/S&T
8 Chm/NIC
9 GC
11!' IG
I COmpt
1^ O/EEO
3 FO/Pens
14 ! D/OPP
15 C/EASiOPP
15 C/IAs/OPP
17 AO/DC!
18 EXDIR
19, .DI
20 D G
21 D OE L
22
SUSPENSE
 BENJAMIN S. RO! NTNAL, N.Y., CH RMAN
JOHN "`NYE:`15. JR.. MICH. approved For Release 2007/03/03: CIA-RDP83M00914R002100160064-6
E"c" .~ASEANSON. PA. NINETY-SEVENTH CONGRESS
EPH ~4 L.. HEAL. N.C.
gti o the ntteb tate
oust of 1~rpregentatibe5
COMMERCE, CONSUMER, AND MONETARY AFFAIRS
SUBCOMMITTEE
OF THE
COMMITTEE ON GOVERNMENT OPERATIONS
RAYBURN HOUSE OFFICE BUILDING, ROOM B-377
WASHINGTON. D.C. 20515
February 9, 1982
The President
The White House
Washington, D.C. 20500
LYLE WILLIAMS. OH10
HAL DAUB. NEDR.
WILLIAM P. CLINGER. JR.. PA.
JOHN HILER, IND.
PTa-)Ilao0
The Subcommittee on Comlmerce, Consumer, and Monetary Affairs of the House
Committee on Government Operations has been examining the public policy conse-
quences of foreign investment in the United States and the appropriate Federal
response to such investments. In July 1979, the subcommittee held four days of
hearings on OPEC investments in the United States. In 1981, we held six days of
hearings, four of which focused on the ISTAT
I STAT
During the course of our inquiry, the subcommittee received and reviewed
numerous U.S. Government documents, both classified and unclassified, relative
to OPEC investments in the United States, including over one hundred CIA docu-
ments. We believe that publication of 17 CIA documents, as a part of the subcom-
mittee's hearing record, is essential to the Congress' and the public's under-
standing of the important public policy issues surrounding OPEC government
investments in our country. I am writing because the subcommittee and the CIA
have been unable to resolve differences over the. declassification of the 17
documents.
A July 12, 1979, Memorandum of Understanding (attached) between the
Director of Central Intelligence and myself as chairman of the subcommittee,
governs the procedures to be followed for declassifying all or part of CIA
documents the subcommittee wishes to publish. As the agreement requires, I am
hereby notifying you that the subcommittee intends to publish 17 CIA documents,
as specified in the attachment to this letter, with certain deletions, acceptable
to the subcommittee, to protect CIA intelligence sources.
Under the agreement, the subcommittee can publish the documents, unless the
President personally advises me in writing within ten working days of receipt of
this letter of his objections to disclosing information contained in the
document, providing, for each document, the reasons for his objection and certi-
fying that (1) disclosure of the information involved would "cause a grave injury
to national defense or foreign relations, or.. .compromise sources and methods of
intelligence gathering," and (2) "such injury outweighs any public interest
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served,by the disclosure." Should you so object, then pursuant to the agreement,
t?e subcommittee may by majority vote refer the question of disclosure of such
information, with a recommendation thereon, to the House of Representatives for
its consideration.
f~l
The 17 CIA documents at issue deal wit
These documents shed light on subjects often shrouded in mystery. Compared
with other Federal agency documents, the CIA documents present the best analysis
within the Federal Government on the critical public policy issues raised by OPEC
ao.~ern,-ent surpluses and investments,
STAT
STAT
Some of the CIA documents raise concerns about OPEC investment not expressed
by other Government agencies, such as State and Treasury. In congressional
hearings and elsewhere, these agencies have repeatedly asserted that there is no
basis for concern in the recycling of petrodollars and OPEC investments in the
United States. The CIA documents express a different view on the type of
investc.ent OPEC governments have been making in the recent past. Without the CIA
documents, the public will get a distorted and one-sided Executive Branch view of
the nature, extent, and impact of such investment.
The CIA objects to the publication of these documents in any useful form.
and has declassified them by making excessive and unjustifiable deletions. In
one case, for example the CIA deleted the entire contents of a five-page
document dealing with They seek to STAT
prevent public disclosure of important but non-sensitive UIA research and prog-
nostications and CIA analyses and conclusions about OPEC surpluses and invest-
ments.
I have endeavored unsuccessfully to resolve the differences we have with the
CIA about publication of the documents. On January 14, 1981, I spoke with
Director Casey. On January 21, 1981, subcommittee staff met with representatives
of the CIA at C:[A headquarters. However,.CIA staff advised him that they would
not enter into negotiations to narrow the number and scope of their numerous
deletions. Further, it appears that Treasury and State have been given "veto"
pc~r:ers over passages in certain documents. While the subcommittee still remains
agreeable to certain deletions to protect CIA sources and to avoid jeopardy to
legitimate U.S. national security interests, the present situation, including
repeated delays dating back to September 1981, is clearly unacceptable.
The issues surrounding OPEC country surpluses and investments are extremely
important. A considered judgment, by the public and the Congress, about the
potential benefits and harm of such investment cannot be made and a rational
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3
p^.tbIic9 policy fashioned without this information. Therefore, I respectfully
request that you exercise your authority to declassify the contents of the
documents involved, deleting only that minimal information which you are author-
ized to delete under the agreement.
Sincerely,
Benjamin S. Rosenthal
Chairman
BSR: Mv
Attachment
cc: Director- of Central Intelligence
roved For Release 2007/03/03: CIA-RDP83M00914R002100160064-6