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Usage:

Britain has yet to find out how much or how little oil she has downstairs, though the first important strike was made at Hardstoft, Derbyshire, in 1919 when oil was discovered about 3,000 ft. below a field of oat stubble. About 100 tons a year have since been produced. Encouraged by this small but steady uninterrupted gush, the Government in 1934 established State ownership of all domestic oil, hoping to make the Navy independent of foreign supplies. Enthusiastic geologists soon began to talk of the possibility of finding oil along a belt stretching from the west coast of Wales...

Author: /time Magazine | Title: Foreign News: Oil at Home? | 6/14/1937 | See Source »

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