The Petroleum Administration for War had bad news to tell: gasoline stocks on the East Coast may soon fall to the level of a year ago, a low point of the war; fuel oil for home heating this winter will still be short. On top of this, the petroleum industry last week predicted: total petroleum needs for the Pacific war will be greater than the requirements for a two-front war.
What this seemed to mean was that the U.S., three months after V-E day, was still faced with an oil shortage. What it actually meant was that the character of...
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