Business & Finance: Gasoline Perplexities

Last year the unexpectedly large production of crude petroleum brought on a crisis in the oil industry by smashing the high prices for crude oil and even for its refined products. Large companies, however, stocked the excess crude oil product, and refineries greatly increased their stocks of gasoline. This policy seemed fairly safe at the time, because of automobile makers' confident predictions of a 5,000,000 car year in 1924 and a consequent heavy increase in gasoline consumption.

This Spring, however, several things happened. Oil companies raised the price of crude, and again wildcatters...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!