Colonel Ernest O. Thompson, chairman of the commission which prorates Texas oil production, last week went to Hyde Park to tell Franklin Roosevelt how confused the industry is: though crude oil production is adequately controlled by the Interstate Oil Compact, lack of control over refining has upset crude prices (TIME, Oct. 24). Saying he was against Government control, Mr. Roosevelt suggested extending the compact to refiners, offered to ask Congress to approve such an extension. As Colonel Thompson took this thought back to the mid-continent oil fields, the industry bitterly noted that the...
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