OIL: Overproduction in Illinois

Last week international oil became Page 1 news. Great Britain ordered her merchant ships and tankers bearing oil from the Near East to get out of the Mediterranean and stay out (see p. 30). Intransigent Mexico made a deal with big-chinned Harry Ford Sinclair (see p. 42) cracking the anti-expropriation front of the U. S. oil industry. Yet U. S. oilmen, whose troubles are their own, did not expect either of these events immediately to help or hurt them much. For Britain, which can at any time add the better part of Norway's fleet of 272 tankers to her...

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