National Affairs: Gas at $1 a Gallon?

Complete control and domination of the oil industry by the Standard Oil Companies, in violation of the 1911 dissolution decree of the Supreme Court, was charged by the La Follette Oil Investigation Committee in its report presented to the Senate after a three months' inquiry into conditions and prices in the oil business.

The methods of control as set forth in the report include division of marketing territory between the various Standard Oil Companies on almost the same basis as before the dissolution, ownership of the principal pipe lines, interlocking stock ownership, fixing of...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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