Word: bbl
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Dates: during 1930-1939
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...uncertain terms that unless States enforced their oil proration laws the industry would do it, that if the industry would not do it, Texas Co. would. A few days later the Texas Railroad Commission upped the production allowance of the vast East Texas oil field from 400,000 bbl. to approximately twice as much. A prompt wire from Mr. Holmes reduced oil prices in that field from 50? to 10? per bbl., producing anger and consternation in Texas. Presently Mr. Holmes told his stockholders at their annual meeting that ''we have never been losing more money than...
...Tighter & tighter the industry drew its proration rules but prices fell to 10?. Then the Governors of Oklahoma and Texas shut down the wells with State troops until new and stronger prorationing measures should be put in effect. The U. S. consumes 2,000,000 to 2,500,000 bbl. a day. With Oklahoma producing around 400,000 bbl. a day, California around 500,000 bbl. and a scattering of other States 400,000 bbl., less than 1,000,000 bbl. a day was left for Texas with its nine fields, of which one. East Texas, was easily able...
...Texas Railroad Commission. While the courts were voiding orders and the Commission making new ones, the rough & tumble crowd in East Texas took other means. They constructed secret pipe connections, they enlarged valves, to ''steal their own oil." Mr. Holmes estimated that 75,000,000 bbl. of "hot" oil were taken out illegally in 15 months-nearly half of it in Texas. Early in April the output of the East Texas field, supposedly around 400,000 bbl., was estimated at twice that. The new proration belt simply did not hold. So three weeks ago the Texas Railroad Commission...
...announced Mr. Duffy. "Well," said the agents, "look what you received." Inside the spacious house, vacant for years but well cared for, Mr. Duffy was dazzled to behold the burnished copper and carefully painted ironwork of a 5,000-gal. alcohol still, capable of filling a battery of 19-bbl. vats daily. Downstairs was a 5,000-gal. molasses vat. Throughout the house, parquet flooring and plate glass mirrors had been scrupulously polished. The control room for this $100,000 plant, which had taken six weeks to build and had been in operation only ten days, was located...
...barrel, the same low reached nine months ago before the Governors of Oklahoma and Texas shut down the oil fields with militia. Reason for the latest cut: a new proration ruling by Texas increasing the allowable production of the East Texas pool from 400,000 to nearly 800,000 bbl...