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TA aon gr mpingee e en neamneseg nye aytes ar ”. barrel, which would decline 4f the strength of markets changed dovnvard to as S business venture. The contact was above-hoard at all tines and no ‘money for’ any reason exchanged hands. There was no attempt OF suggestion to hide any payments if tne deal were consummated, and a8 part of Charter’ ‘8 standard operating procedure we informed Mr, Carter that all dealings that we have Bust. conform to the Foreign Corrupt Practices Act, and Mr. Carter fully supported | 7 7. requirenent. In exploring this proposition, Charter had.nothing to lose and potentially could gain additional oil for refining operations which had at that time excess ; . _ capacity. Saly the delivery of ofl would have triggered any action on our | part. Tf crude oil had become available, Charter and Billy Carter would have entered into a formal agreement which specifically delineated the terms of ‘the os transaction waa comisstons to be paid. At that time, the commission rate aa | for transactions of this type was as high as-$3 per barrel. In negotiations with Billy Carter, a commission structure was discussed at the rate of 55¢ per 7 low as 5¢ a barrel. Such a transaction, had it become an eventuality, would | have been highly attractive to Charter at that time since erude oil in world markets was selling $10 to $12 above official government selling prices. . All crude of1 transactions or supply contracts are evaluated by Charter for their short-term and long-term economic benefit to the operations of Charter Oil Company. During the course of the discussions with Mr. Carter, a signi- ficant deterioration of the profitability elements of high | cost Libyan oil " eocurred, and an evaluation in light of those circumstances would have occurred » _ bad the of] become availablé, before Charter would have committed to a contract. was not initiated by us. Charter did not treat this matter any differently