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to local concerns, to environmental concerns, and to the need to develop prudently our nation's domestic energy resources. Although I have today taken these strong steps to protect our environment, I continue to believe that there are significant offshore areas where we can and must go forward with resource development.

While I believe that a leaner OCS program will ultimately be more effective, Americans must recognize that the OCS program is a vital source of fuel for our growing economy. My desire is to achieve a balance between the need to provide energy for the American people and the need to protect unique and sensitive coastal and marine environments.

Note: On the same day the Office of the Press Secretary also released a fact sheet entitled "Presidential Decisions Concerning Oil and Gas Development on the Outer Continental Shelf.” Excerpts from that fact sheet follow:

Guiding Principles

The President's decisions were based on the following principles:

(1) Adequate Information and Analysis. Adequate scientific and technical information regarding the resource potential of each area considered for leasing and the environmental, social, and economic effects of oil and gas activity must be available and subjected to rigorous scrutiny before decisions are made. No new leasing should take place without such information and analysis.

(2) Environmental Sensitivity. Certain areas off our coasts represent unique natural resources. In those areas, even the small risks posed by oil and gas development may be too great. In other areas, where science and experience and new recovery technologies show development may be safe, development will be considered.

(3) Resource Potential. Priority for development should be given to those areas with the greatest resource potential. Given the inexact nature of resource estimation, particularly offshore, priority should be given to those areas where earlier development has proven the existence of economically recoverable reserves.

(4) Energy Requirements. The requirements of our nation's economy for energy and the overall costs and benefits of various sources of energy must be considered in deciding whether to develop oil and gas offshore. The level of petroleum imports, which has been steadily increasing, is a critical factor in this assessment.

(5) National Security Requirements. External events, such as supply disruptions, might require a reevaluation of the OCS program. All decisions regarding OCS development are subject to a national security exemption. If the President determines that national security requires development in the areas of these three lease sales or in other areas, he has the ability to direct the Interior Department to open the areas for development.

General OCS Decisions

The President also decided that:

(1) Air quality controls for oil and gas development offshore California should be substantially the same as those applied onshore.

(2) Immediate steps should be taken to improve the ability of industry and the Federal Government to respond to oilspills offshore, regardless of their source.

(3) Federal agencies should develop a plan to reduce the possibility of oilspills offshore from whatever source, including and especially from tanker traffic. This plan should include moving tanker routes further away from sensitive areas near the Florida Keys and the Everglades.

Restructuring the OCS Program

The President directed Interior Secretary Lujan to take three actions to improve the overall OCS program:

(1) Improve the information needed to make decisions on OCS development by conducting the studies identified by the National Academy of Sciences and studies to explore new technologies for alleviating the risks of oilspills from OCS platforms and new oil and gas drilling technologies, such as subsea completion technology.

(2) Target proposed sale areas in future OCS 5-year plans to give highest priority to areas with high resource potential and low environmental risk. This will result in offer

ing much smaller and more carefully selected blocks of tracts.

(3) Prepare a legislative initiative that will provide coastal communities directly affected by OCS development with a greater share of the financial benefits of new development and with a larger voice in decisionmaking.

Lease Sale 96 in the North Atlantic

The President also directed Interior Secretary Lujan to consult with the Governors of the States whose residents would be affected by future development of oil and gas in the North Atlantic.

tion and U.S. support for the important worldwide humanitarian work of UNHCR.

President Bush and High Commissioner Stoltenberg discussed the issue of Vietnamese boat people and the overall issue of potential population movements in the coming years. The President restated the U.S. position in support of first asylum in Southeast Asia and against involuntary repatriation to Vietnam under current conditions there. It was agreed that the United States would continue to be in touch with the High Commissioner on the issue of preserving first asylum in Southeast Asia.

Message to the Congress Reporting Budget Deferrals

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Remarks at the Congressional Barbecue June 26, 1990

The President. Glen, thank you. Thank you all very much. You really turned it on tonight.

Let me just say to everybody how pleased I think I speak for all of you-we are to have Glen here-40 albums, 4 gold singles, and 4 special awards, one of the great musical talents in our country and a friend to everybody out here. And we are very, very pleased, Glen. Thank you for that marvelous, lively performance.

Mr. Campbell. You are quite welcome, sir. Thank you, everybody.

The President. And all this wonderful band of yours. We're delighted to have you all here. And let me say to the Members of the Congress that Barbara and I are delighted that you came down here—a good, relaxed evening and a beautiful night at the White House. We've got a lot of work ahead, but I think at least as far as we're concerned from this end of Pennsylvania Avenue it's been a joy. We're delighted you were here. Now, make yourselves at home, and thank you once again, Glen Campbell. Thank you so much.

Mr. Campbell. Thank you, Mr. President. Thank you a lot.

Note: The President spoke at 8 p.m. on the South Lawn at the White House.

Nomination of George F. Murphy, Jr.,
To Be Inspector General of the United
States Information Agency
June 27, 1990

The President today announced his intention to nominate George F. Murphy, Jr., to be Inspector General of the U.S. Information Agency. He would succeed Anthony J. Gabriel.

Since 1988 Mr. Murphy has served as Deputy Director for the U.S. Arms Control and Disarmament Agency in Washington, DC. Prior to this, he served as a consultant to the nuclear industry, 1986-1987; director of the Senate National Security Office, 1977-1986; executive director of the Joint Committee on Atomic Energy, 1975-1977; deputy director of the Joint Committee on Atomic Energy, 1968-1975; and a professional staff member on the Joint Committee on Atomic Energy, 1958-1968. In addition, Mr. Murphy worked for the Central Intelligence Agency, 1950-1958.

Mr. Murphy graduated from Harvard College (A.B., 1949). He was born May 1, 1924, in Boston, MA. Mr. Murphy served in the U.S. Army Air Corps, 1942–1946. He is married, has two children, and resides in Bethesda, MD.

Statement on Signing a Bill Protecting
Natural and Cultural Resources in
New Mexico
June 27, 1990

I take great pleasure in signing into law S. 286, an Act to establish the Petroglyph National Monument and the Pecos National Historical Park in New Mexico, and to resolve various New Mexico land issues.

West of Albuquerque, New Mexico, the major landscape feature is the West Mesa, marked by a 17-mile long basalt escarpment and five volcanic cones. Within the area are an estimated 15,000 to 17,000 petroglyphs, which are designs carved or pecked into the rock. Establishment of the Petroglyph National Monument will provide an excellent opportunity to form a strong partnership among the Federal Government, the State of New Mexico, and the City of Albu

querque to ensure the protection of seriously threatened ancient Pueblo Indian and Spanish rock art. Cost sharing will be an important component of the success of this joint effort, and I look forward to a successful partnership.

S. 286 also will expand the existing 365acre Pecos National Monument into the 5,865-acre Pecos National Historical Park. This will allow for expanded protection and recreation programs in an area rich in cultural resources.

I wholeheartedly support the measures contained in S. 286 because they will ensure the protection of rich natural and cultural resources within the State of New Mexico that are now seriously threatened. George Bush

The White House, June 27, 1990.

Note: S. 286, approved June 27, was assigned Public Law No. 101-313.

Remarks Announcing the Enterprise for the Americas Initiative June 27, 1990

Thank you all very much for coming to the White House, and it is my pleasure to welcome so many distinguished guests with such strong interests in the vital Latin American and Caribbean region. Let me recognize the many members of the diplomatic corps that are here and extend to you

a

warm welcome-from Latin America, particularly, and the Caribbean, Europe, Japan. Members of our Cabinet-Nick Brady and Secretary Baker, Carla Hills, Secretary Mosbacher-delighted you're here. Chairman of the Council of Economic Advisers, Mike Boskin, is here. Bill Webster, welcome. And of course, we're delighted to see Alan Greenspan, Chairman of the Federal Reserve Board, here and then an old friend, Barber Conable, of the World Bank, and Richard Erb, from the IMF. And Ricky Iglesias, an old friend of the Bushes, and we welcome him, of the IDB, and so many leading lights in the business and financial

communities. To all of you, then, a wel

come.

In the past 12 months, every one of us, from the man in the White House to the man on the street, has been fascinated by

tremendous changes, the positive changes, taking place around the world. Freedom has made great gains not just in Eastern Europe but right here in the Americas; and we've seen a resurgence of democratic rule, a rising tide of democracy, never before witnessed in the history of this beloved hemisphere. And with one exception, Cuba, the transition to democracy is moving towards completion, and we can all sense the excitement that the day is not far off when Cuba joins the ranks of world democracies and makes the Americas fully free.

With one exception, that's the case. But the political transformation sweeping the rest of Latin America and the Caribbean has its parallel in the economic sphere. Throughout the region, nations are turning away from the statist economic policies that stifle growth and are now looking to the power of the free market to help this hemisphere realize its untapped potential for progress. A new leadership has emerged, backed by the strength of the people's mandate, leadership that understands that the future of Latin America lies with free government and free markets. In the words of Colombia's courageous leader, Virgilio Barco-President Barco: "The long-running match between Karl Marx and Adam Smith is finally coming to an end" with the "recognition that open economies with access to markets can lead to social progress."

For the United States, these are welcome developments, developments that we're eager to support. But we recognize that each nation in the region must make its own choices. There is no blueprint, no onesize-fits-all approach, to reform. The primary responsibility for achieving economic growth lies with each individual country. Our challenge in this country is to respond in ways that support the positive changes now taking place in the hemisphere. We must forge a genuine partnership for freemarket reform.

Back in February, I met in Cartagena [Colombia] with heads of the three Andean nations, and I came away from that meet

ing convinced that the U.S. must review its approach not only to that region but to Latin America and the Caribbean as a whole. And I asked Treasury Secretary Brady to lead a review of U.S. economic policy towards this vital region, to make a fresh assessment, if you will, of the problems and opportunities we'll encounter in the decade ahead. And that review is now complete, and the results are in, and the need for new economic initiatives is clear and compelling.

All signs point to the fact that we must shift the focus of our economic interaction towards a new economic partnership because prosperity in our hemisphere depends on trade, not aid. And I've asked you here today to share with you some of the ideas, some of the ways we can build a broad-based partnership for the nineties-to announce the new Enterprise for the Americas Initiative that creates incentives to reinforce Latin America's growing recognition that free-market reform is the key to sustained growth and political stability.

The three pillars of our new initiative are trade, investment, and debt. To expand trade, I propose that we begin the process of creating a hemispherewide free trade zone; to increase investment, that we adopt measures to create a new flow of capital into the region; and to further ease the burden of debt, a new approach to debt in the region with important benefits for our environment.

Let's begin with trade. In the 1980's, trade within our hemisphere trailed the overall pace of growth in world trade. One principal reason for that: overrestrictive trade barriers that wall off the economies of our region from each other and from the United States at great cost to us all. These barriers are the legacy of the misguided notion that a nation's economy needs protection in order to thrive. The great economic lesson of this century is that protectionism still stifles progress and free markets breed prosperity. To this end, we've formulated a three-point trade plan to encourage the emerging trend toward freemarket reform that are now gathering forces in the Americas.

First, as we enter the final months of the current Uruguay round of the world trade

talks, I pledge close cooperation with the nations of this hemisphere. The successful completion of the Uruguay round remains the most effective way of promoting longterm trade growth in Latin America and the increased integration of Latin nations into the overall global trading system. Our aim in the Uruguay round is free and fair trade, and through these talks we are seeking to strengthen existing trade rules and to expand them to areas that do not now have agreed rules of fairplay. And to show our commitment to our neighbors in Latin America and the Caribbean, we will seek deeper tariff reductions in this round on products of special interest to them.

Second, we must build on the trend we see toward free markets and make our ultimate aim a free trade system that links all of the Americas: North, Central, and South. And we look forward to the day when not only are the Americas the first fully free, democratic hemisphere but when all are equal partners in a free trade zone stretching from the port of Anchorage to the Tierra del Fuego.

I'm announcing today that the U.S. stands ready to enter into free trade agreements with other markets in Latin America and the Caribbean, particularly with groups of countries that have associated for purposes of trade liberalization. And the first step in this process is the now-announced free trade agreement with Mexico. We must all recognize that we won't bring down barriers to free trade overnight; changes so farreaching may take years of preparation and tough negotiations. But the payoff in terms of prosperity is worth every effort, and now is the time to make a comprehensive free trade zone for the Americas our long-term goal.

And third, I understand that some countries aren't yet ready to take that dramatic step to a full free trade agreement. And that's why we're prepared to negotiate with any interested nation in the region bilateral framework agreements to open markets and develop closer trade ties. Such agreements already exist with Mexico and Bolivia. Framework agreements will enable us to move forward on a step-by-step basis to eliminate counterproductive barriers to trade and towards our ultimate goal of free trade. And that's a prescription for greater

growth and a higher standard of living in Latin America and, right here at home, new markets for American products and more jobs for American workers.

Promoting free trade is just one of three key elements in our new Enterprise for the Americas Initiative. And our second pillar is increased investment.

The competition for capital today is fierce, and the key to increased investment is to be competitive, to turn around the conditions that have discouraged both foreign and domestic investment-reduce the regulatory burden, clear away the thicket of bureaucratic barriers that choke off Latin America's aspiring entrepreneurs.

In one large Latin city, for instance, it takes almost 300 days to cut through the redtape to open a small garment shop. In another country, the average overseas caller has to make five phone calls to get through, and the wait for a new telephone line can be as long as 5 years. And that's got to change.

Investment reform is essential to make it easier to start new business ventures and make it possible for international investors to participate and profit in Latin American markets. In order to create incentives for investment reform, the United States is prepared to take the following steps:

First, the United States will work with the Inter-American Development Bank to create a new lending program for nations that take significant steps to remove impediments to international investment. The World Bank could also contribute to this effort.

And second, we propose the creation of a new investment fund for the Americas. This fund, administered by the IDB, could provide up to $300 million a year in grants in response to market-oriented investment reforms in progress in privatization. The U.S. intends to contribute $100 million to the fund, and we will seek matching contributions from Europe and Japan.

But in order to create an attractive climate for new investment, we must build on our successful efforts to ease the debt burden. That's the third pillar of this new Enterprise for the Americas Initiative.

Many nations have already undertaken painful economic reforms for the sake of

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