OIL: Target for Criticism

Almost everyone was mad at the U.S. oil industry last week for its failure to supply Europe with promised oil and its sudden increase in the price of domestic oil products. Even President Eisenhower at his press conference took pointed notice of the industry's shortfall (see NATIONAL AFFAIRS).

Before a Senate subcommittee investigating the 12% oil price increase, Florida Power & Light Co.'s President McGregor Smith testified that the price rise was the "greatest economic hurricane" the state had ever suffered. Florida Power alone, he said, will have to pay $6,000,000 more...

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