A similar and even more striking case of climbing prices and record production is afforded by the petroleum industry. Crude oil has been marked up 25¢ to $1.75 per barrel by several prominent companies, notably the Texas Company and the Humble Oil and Refining Company. Yet the daily average production of 1,801,800 barrels for the period ending March 10 has established a new high record for the history of this country. The recent difficulties in the coal industry have probably proved of importance in the steadily widening employment of fuel oil.
The mounting price for...
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