The bugbear of the oil industries has been the large stocks of both crude oil and gasoline on hand. Yet some months ago, as soon as the excessive preceding production had begun to slow up, prices for both crude and gasoline were rapidly jacked up. The oil men in adopting this policy were obviously trusting that production would remain steady or decline further, while consumption would be record-breaking.
The lack of enthusiasm current concerning the oil industry has directly resulted from this policy of higher prices. Consumption of gasoline, while in...
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