Britain owns all the oil, developed and undeveloped, in Southern Iran. She controls one-third of Venezuela's output, two-thirds of Mexico's. She has an oil company in the U. S.
After the U. S., Britain is the world's largest oil consumer. But only recently did she suspect that she might have fairly large quantities in her own island cellars.
Britain has yet to find out how much or how little oil she has downstairs, though the first important strike was made at Hardstoft, Derbyshire, in 1919 when oil was discovered about 3,000 ft. below a...
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