Word: oilmen
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Dates: during 1940-1949
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...enough to last 14 years at the current consumption rate. But even in an extreme emergency the U.S. could not get more than one-fifth this oil in the next few years. (The U.S. consumed over 1.2 billion barrels of oil for 1939's peaceable purposes.) Four other oilmen backed him up, declared a 25 to 50? a barrel rise over the present average $1.15 level would be necessary to revive wildcatting...
...situation last week was whether the railroads can step their oil deliveries to the East up another 200,000 barrels a day, average 1,000,000 barrels a day through the winter. Railroad men were sure they could, and oilmen agreed that such a feat-when & if achieved-would make fuel-oil rationing unnecessary...
...President Roosevelt, his oil boss Harold L. Ickes and most oilmen "from Missouri," were taking no chances. The President warned the Eastern seaboard that householders had better prepare for fuel-oil rationing. Ickes went beyond words to action, halted all deliveries of heating oil until Sept. 15 to build up stocks, warned 400,000 homeowners who burn oil in converted coal furnaces that they may not be allowed any oil at all and had better convert back to coal right away. So far, he said, fewer than 30,000 have done...
...means that natural rubber will be a deader commodity at the end of this war than natural nitrates were at the end of the last.* The estimated cost of the Buna program now ($500 per ton of plant capacity) is only half what it was five months ago, and oilmen confidently believe that, by the end of the war, costs (combined with quality) will meet and lick natural rubber...
Everybody had Harold Ickes to thank, and not many thought to do it. Oilmen had swooned in 1941 when "Horrible Harold" was appointed Petroleum Coordinator for National Defense. One Tulsa tycoon had growled: "Ickes is captain of our souls. My day is absolutely ruined." But it was Ickes last summer who took up the crusade for the pipeline which they had all futilely talked about...