Word: oiled
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Dates: during 1920-1929
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Such, in effect, was the net result of the much-heralded oil conservation meeting held last week at famed Broadmoor Hotel, Colorado Springs, on the call of President Hoover (TIME, June 10). Three hundred delegates attended. From eleven oil-producing States came Governors or their representatives. The U. S. was there in the persons of Secretary of the Interior Ray Lyman Wilbur and Mark Lawrence Requa, the meeting's chairman and the President's special representative. Nine billion dollars of the eleven-billion-dollar U.S. oil industry were actively represented. For three days the delegates wrestled with oil, deplored...
President Hoover called the meeting in the hope that those attending it would contrive a means of reducing oil production, possibly by an interstate compact to be ratified by Congress. No such means was found. Instead, attention was focused upon differences within the oil industry which block the way to conservation. Two factors plainly caused the breakup...
...refusal of independent oil producers to enter any limitation agreement until a duty is placed upon petroleum imports. They contend that the major oil companies will reduce their domestic production only to increase their imports from Mexico and South America, thus nullifying the effect of any conservation agreement. In this position the independents were joined by Louisiana, to which most U. S. oil imports come. Crude oil imports are now about one-tenth of domestic production...
...refusal of public-land States, notably Wyoming, Montana. Utah and Colorado, to participate in any interstate conservation compact until the U. S. Government "substantially modifies" the order issued by President Hoover last March curtailing oil development leases and explorative drilling by permit on U. S. lands. These States, deprived of royalty oil revenue by the Hoover order, were in no co-operative mood at Colorado Springs...
Capt. A. T. Morris of the American steamer Maracaibo, leaned over the ship's rail smoking an evening pipe, gazing at the placid harbor of Willemstad, Curaçao. A thin sliver of moon hung over the tanks of the Royal Dutch oil refinery on shore, shone on the yellow plaster façade of the Governor's Palace...