OIL: The New Dictator

Oilmen, already harried by a shortage of tankers, had another blow last week. Their favorite enemy, Harold L. Ickes, already Federal Oil Administrator, became Petroleum Coordinator for National Defense. The man they had damned as "imbued with an inordinate ambition ... to dictate the course of the industry" got the power to do just that. Cried a Tulsa pessimist: "Ickes is captain of our souls. My day is absolutely ruined!"

But oilmen were glad at least that they had a boss with authority. Reason: the growing transportation problem. Ickes himself, in a characteristic grab at the headlines, had forecast "Gasless...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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