On the Pacific coast last week was Oilman Harry Ford Sinclair, conferring and inspecting. Generally accepted in the oil industry as the objects of his visit were: 1) A merger of Sinclair Consolidated Oil, Prairie Oil & Gas and Rio Grande Oil; 2) sale of Sinclair's eastern retail outlets to Standard of California.
Especially important to oilmen seemed object No. 2, for from California's wells have oozed troubles which have spread over the entire industry. In an attempt to eliminate overproduction by forcing independent operators to limit their output, Standard of California began cutting crude oil prices, sent great quantities of...
To continue reading:
or
Log-In
