Oil conservation moved off in a new direction last week. The Federal board headed by Secretary of the Interior Wilbur to deal with this problem advised the American Petroleum Institute, in effect, that what was apparently illegal under the Sherman anti-trust law could be made legal through the little-used state-compact clause of the U. S. Constitution. What smart Secretary Wilbur proposed to the A. P. I. was: Disintegration of its hard-won national agreement to limit oil production to the 1928 figures, into state agreements; legalization of these agreements by each state; consolidation...
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