PETROLEUM: Sinclair's Alternative

One day last June heavy-jowled Oilman Harry Ford Sinclair, sick & tired of the red ink on the ledgers of his sprawling Consolidated Oil Corp., fixed his steely blue eyes on the brawling petroleum industry and made a statement for all to hear. Said he: "The price of [finished] products must go up or the price of raw material must go down."

So saying, he upped the price of his principal finished product (gasoline) by a half-cent a gallon in 42 States where Consolidated's wholly-owned subsidiary, Sinclair Refining Co., has filling stations. This was an invitation for the rest of the...

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!