— in expenses

The council was formed to promote the business conditions of its members and the industry through efforts directed toward federal legislation. The council provides members with information on federal regulations affecting the domestic oil and gas industry, particularly with respect to changes in the tax laws and various government controls. The council serves as a medium for formulating positions with respect to proposed legislation. The council arranges appointments for representatives of member companies with members of congress to present the council's views and positions. Information concerning the impact of certain legislative proposals on members' companies is compiled. In addition, position papers and legislative proposals of the council have been and will be drafted and disseminated to governmental officials and members of congress. Testimony concerning legislation affecting the domestic oil and gas industry and energy policy has been and will be presented to congressional committees.