Word: oilmen
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Priorities & Ear Muffs. The worst shortage was in oil. It affected the entire East, and New York City in particular. With thousands of New Yorkers heatless, Mayor William O'Dwyer ordered oilmen to put deliveries on a priority basis, giving first call to homes, apartment buildings and hotels. The Navy sent 40 of its tankers into civilian service and even dipped into its own oil reserves to relieve distress in some areas. The Commerce Department cut oil and gasoline exports...
...burning; oil-burners are being installed in homes at a record clip, and farmers are mechanizing their farms at a record rate. Since 1938 U.S. per capita oil consumption has increased 66%. The shortage, said Secretary of the Interior J. A. ("Cap") Krug, might last for three years. Most oilmen agreed...
This week, Cap Krug gave his estimate of the cost: $9 billion. Krug estimated that the job would take five to ten years. Oilmen thought Krug was trying to bite off too much. The technology of making synthetic oil was improving so rapidly that such big plants might well be obsolete before they were in production. Know-how had already reached the point where gasoline from natural gas could compete with gasoline from crude...
...Oilmen wondered if Getty would now toss Bill Skelly out of the presidency of the company he had founded. Skelly had some ideas of his own: he threatened to bring another suit, aimed to throw Mission Corp. into liquidation and divide its holdings, including Skelly Oil, among its stockholders...
...able to buy crude. In explanation of the increase, Sun's Vice President John Glenn (Jack) Pew* said that his company had "found it increasingly difficult to obtain crude oil. . [because] of ever-increasing premiums which are being paid ... by many of our competitors." But many oilmen disagreed when Pew added that "an increased price will prove an incentive for stimulating increased production" Crude was short because of high demand, lack of transportation and a shortage of drilling equipment for new wells. No price rise could cure these conditions...