OIL: Almost Enough

By opening new pipelines and stepping up production all along the line, the oil industry had whipped the threatened summer shortage of gasoline. But what about next winter, when the fuel oil demand is expected to be 7% higher than a year ago? Last week the Interstate Oil Compact Commission (representing the governors or oil-regulating bodies of 21 oil-producing states) took an optimistic view: if crude oil production could be boosted to 5,600,000 barrels daily, there would be no shortage—and oilmen already had the daily production rate up to a record 5,528,850 barrels.


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