13. 11. 78 Official  Journal  of the European  Communities No C 269/11 
more  difficult  to achieve  these  objectives.  The Committee 
would  like  to see this reference  deleted.  The  term  'other 
sectors'  is too vague,  and  requires  further  elaboration 
before  it would  be acceptable  to the Committee. 
Page  2 - Article  2 
A new  second  indent  after  . . eligibility  of projects' 
should  be added: 
'The Committee  is to be consulted  regularly  regarding 
the laying  down  of general  aims  and  the  rules 
governing  the eligibility  of projects.' 
Page  2 - Article  3 
The Committee  believes  that  the  European  Unit  of 
Account  should  be introduced  as soon  as possible  for all 
borrowing  and  lending  operations. 
Page  3 - Article  4, first  line 
The first  seven  words  in the English  version  need  to be 
modified  slightly  for proper  sense  to be made  of them. Page  3 - Article  5 
The mandate  given  to the EIB by the Commission  to make 
loans,  as summarized  in this Article  and expanded  upon  in 
the draft,Cooperation  Agreement,  threatens  to divert  the 
proposed  new  financing  instrument  from  its purpose, 
given  the  difficulties  that  might  arise  should  certain 
projects  deemed  eligible  be regarded  as non-viable  by the 
Bank.  As stated  in paragraph  3.3 above,  the Committee 
feels  that  the cooperation  between  the Bank  and  the 
Commission  in granting  and administrating  loans  should 
be as close  as possible  and  that  in any  event  the 
Commission  should  have  the final  say on whether  or not 
to make  the loan.  The Committee  disagrees  with  Article  5 
in its present  wording  and would  therefore  like to see it 
completely  recast. 
Page  3 — Article  6 
The first  line should  read: 
'.. . the Council,  Parliament  and  the Economic  and 
Social  Committee  . ..'. 
Done  at Brussels,  27 April  1978. 
The Chairman 
of the Economic  and  Social  Committee 
Basil  de FERRANTI 
Opinion  on the proposal  for a Council  Directive  amending  Council  Directive  68/414/EEC  of 
20 December  1968  imposing  an obligation  on Member  States  of the EEC  to maintain  minimum 
stocks  of crude  oil and/or  petroleum  products 
The text  referred  to the Committee  has been  published  in Official  Journal  of the European 
Communities  No  C 15 of 19 January  1978,  page  3. 
A. LEGAL  BASIS  FOR  THE  OPINION 
On 16 January  1978,  the Council  referred  the abovementioned  proposal  to the Economic  and 
Social  Committee  in accordance  with  Article  198  of the Treaty  establishing  the European 
Economic  Community. 
B. OPINION  OF THE  ECONOMIC  AND  SOCIAL  COMMITTEE 
The Economic  and Social  Committee  prepared  its opinion  on the above  matter  at its 158th 
plenary  session,  held  in Brussels  on 26 and  27 April  1978. 
The full  text  of the opinion  is as follows: 
No C 269/12 Official  Journal  of the European  Communities 13. 11. 78 
THE  ECONOMIC  AND  SOCIAL  COMMITTEE, 
Having  regard  to Article  198 of the Treaty  establishing  the 
European  Economic  Community, 
Having  regard  to the request  made  by the Council  of the 
European  Communities  on 23 January  1978  for  an 
opinion, 
Having  regard  to the decision  taken  by its Bureau  on 
31 January  1978,  instructing  the Section  for Energy  and 
Nuclear  Questions  to draw  up an opinion  and a report  on 
the matter, 
Having  regard  to the opinion  issued  by the Section  for 
Energy  and Nuclear  Questions  at its 39th  meeting  held  on 
7 April  1978, 
Having  regard  to the report  submitted  by the rapporteur, 
Mr Bornard, 
Having  regard  to the discussions  at its 158th  plenary 
session  of 26 and  27 April  1978  (meeting  of 27 April 
1978), 
HAS  ADOPTED  THE  FOLLOWING  OPINION 
by 43 votes  to 3, with  10 abstentions: 
1. Changing  the basis  for the exemption 
i 
1.1. Oil-producing  Member  States  are  at present 
allowed  an exemption  of up to 15 % from  the stocking 
Done  at Brussels,  27 April  1978. obligations,  on the  basis  of their  consumption  of 
derivatives*  of indigenous  crude  oil.  The  Committee 
recognizes  that  since  this exemption  is granted  solely  to 
oil-producing  Member  States,  not all Member  States  are 
encouraged  to consume  Community  oil. The  Committee 
believes  that  it is in the Community  interest  to provide 
such incentives  to all Member  States.  The  Committee 
therefore  approves  the proposal  that  the exemption  be 
granted  to all Member  States  on the  basis  of their 
consumption  of derivatives  of Community-produced 
crude  oil. 
2. Raising  the exemption  from  15%  to 40% 
2.1. Stockholding  obligations  are a basic  and essential 
guarantee  but the production  (and  reserve  capacity)  of 
crude  oil  in the  Community  contributes  to the 
Community's  security  of supply.  The  increase  in 
production  capacity  may  therefore  warrant  some 
relaxation  of stock-holding  obligations,  especially  since 
such a relaxation  would  probably  lead  to financial 
savings.  Any  relaxation  cannot,  however,  be divorced 
from  the Commission's  principle  that  'the normal  supply 
flows  of these  crudes  and  products  between  Member 
States  shall  be maintained  in the  event  of supply 
difficulties'.  The Committee  would  ask the Member  States 
to make  a formal  commitment  to uphold  this  principle, 
underwritten,  where  appropriate,  by  international 
commitments.  Subject  to the  above  reservations,  the 
Committee  approves  the proposal  to raise  the exemption. 
In the absence  of clear  criteria,  however,  the Committee 
cannot  take  a stand  on the 40 % figure. 
The Chairman 
of the Economic  and  Social  Committee 
Basil  de FERRANTI 
Opinion  on the communication  from  the Commission  to the Council  on a Community  plan  of 
action  in the field  of radioactive  wastes 
The text  referred  to the Committee  has been  published  in Official  Journal  of the European 
Communities  No  C 249  of 18 October  1977,  page  8. 
A. LEGAL  BASIS  FOR  THE  OPINION 
On 22 August  1977,  the Council  referred  the abovementioned  proposal  to the Economic  and 
Social  Committee  in accordance  with  Article  170  of the Treaty  establishing  the European 
Atomic  Energy  Community. 
B. OPINION  OF THE  ECONOMIC  AND  SOCIAL  COMMITTEE 
The Economic  and Social  Committee  prepared  its opinion  on the above  matter  at its 158th 
plenary  session,  held  in Brussels  on 26 and  27 April  1978. 
The full text  of the opinion  is as follows: