OIL: The Squeeze

The new mandatory oil quotas on imports, set for major refiners last week, squeezed some companies tight. Of the 136 companies put on quotas, those seriously restricted in their imports are Gulf Oil Corp., whose crude and unfinished oil quota was lopped 31.7%, Sinclair Refining Co. (29.6%), Tidewater Oil Co. (38.8%), Standard Oil Co. of Indiana (32.8%), Socony Mobil Oil Co., Inc. (40.4%) and Texas Co. (33-8%).

The cuts brought a cry from Standard of Indiana that they are "grossly discriminatory." As other importers also stormed over the Administration's move, independent Texas oilmen (who produce more than 40% of the...

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