Climaxing a long huddle with oilmen, Petroleum Coordinator Ickes last week announced that the industry had agreed to double refining capacity for aviation gasoline, in order to forestall a shortage.
In 1935 100-octane (100% antiknock) fuel was a $30-a-gallon laboratory freak; now it runs about 13,000,000 barrels annually. The industry has steadily added to reserve stocks, last fortnight had 7,772,000 barrels socked away, highest ever, and 40% above a year ago. Yet a shortage loomed. Chief reason: the huge, unexpected demands of the U.S.S.R.. which has little high-octane refining capacity of its...
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