OIL: Competition for Tankers?

With the East Coast oil shortage about over, the oil industry last week had a new worry—the fate of the government-owned Big Inch and Little Inch pipelines. Last week, the New York Journal of Commerce reported what the industry would like to do about the lines. It plans to ask Congress to 1) shut them down completely, and 2) bar their sale to any oil company or group of companies.

The industry took the position that the lines, which can easily transport almost 40% of the East Coast's entire prewar oil supply, might just as easily disrupt peacetime oil prices,...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!