OIL: Agreement

As diplomats reckon time, the job was done with breath-taking speed. Just seven days after Petroleum Administrator Harold Ickes arrived in London, he sat down with Britain's Fuel Administrator Emanuel Shinwell and signed a new Anglo-American oil agreement.

The Old Curmudgeon, who had come a producing and consuming countries. Long before then, U.S. oilmen expect to get some solid results. Some hope that the pact will mean an end to the Red Line area agreement* which has slowed drilling in parts of the Middle East.

They also hope that U.S. companies may now get exploratory concessions in India, Trinidad...

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