Dillon Exhibit 5
September 21, 1960

MEMORANDUM

SUBJECT: Discussion at the 460th Meeting of the National Security Council, Wednesday, September 21, 1960

Present at the 460th NSC Meeting were the President of the United States, presiding; the Acting Secretary of State (Dillon); the Secretary of Defense; and the Acting Director, Office of Civil and Defense Mobilization (Patterson). Also present at the Meeting and participating in the Council Actions below were the Secretary of the Treasury; the Director, Bureau of the Budget; the Attorney General (Items 1 and 2); the Secretary of Commerce (Items 1, 2, and 3); the Acting Secretary of the Interior (Bennett) (Items 1 and 2); Mr. Tom Killefer for the President, Export-Import Bank of Washington (Items 1 and 2); and the Chairman, Council on Foreign Economic Policy (Item 3). Also attending the Meeting were the Chairman, Joint Chiefs of Staff; the Director of Central Intelligence; the Special Assistants to the President for National Security Affairs and for Security Operations Coordination; Assistant Secretary of Defense John N. Irwin, II; Mr. Robert Fakhri of the Department of State; Mr. Knight McMahan, Central Intelligence Agency; the White House Staff Secretary; the Assistant White House Staff Secretary; the Executive Secretary, NSC; and the Deputy Executive Secretary, NSC.

There follows a summary of the discussion at the Meeting and the main points taken.

1. WESTERN EUROPEAN DEPENDENCE ON MIDDLE EAST PETROLEUM
[NSC Action No. 2008; Memos for NSC from Executive Secretary, same subject, dated March 26, 1959, and June 28, 1960; NSC 6011; Memos for NSC, same subject, dated August 9 and 29, and September 19, 1960]

Mr. Gray introduced the subject to the Council. (A copy of Mr. Gray's Briefing Note is filed in the Minutes of the Meeting and another copy is attached to this Memorandum).

At the conclusion of Mr. Gray's presentation, the President said he had received the most glowing reports on the prospects for petroleum production in Libya. He had been told that the Libyan reserves exceeded even the Sahara reserves. He asked

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