OIL: Ersatz, Texas Style

Texans, who are audible on most topics, have been loud on the subject of Texas' natural gas. They didn't like the way it was being handled. Much of the state's natural gas has been either 1) wasted or 2) piped outstate. What Texas wants is new industries in Texas, new uses for its gas. This week Texas got both.

The Reconstruction Finance Corp. lent $9,000,000 to Carthage Hydrocol, Inc., to build a $19,000,000 plant near Brownsville to make gasoline from natural gas. Behind Carthage Hydrocol are eight large companies,* which were willing to risk $10,000,000 of their own cash, and Texas-born...

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