Word: oils
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Dates: during 1930-1939
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Geologically, the situation is simple. Oil is taken out of off-shore pools by building piers or artificial islands and drilling downward (which is likely to ruin the beaches) or by whip-stocking down slantwise from the shore. Politically, it is more complicated. Standard Oil of California owns or controls virtually all of Huntington Beach and a good share of Long Beach and Wilmington Beach. Standard is as much of a political issue in California as Southern Pacific was 25 years ago. Standard's foes in the State Legislature, led by excitable Senator Culbert Olson, hotly denounce Governor Frank...
...months ago, the Legislature passed a bill that was Mr. Merriam's personal solution of the problem. It provided for a State Lands Commission to receive bids; but because it prohibited all drilling except by whip-stocking, the chief company that could submit bids was Standard Oil. Culbert Olson blew up. He will probably be the next Democratic candidate for Governor; Frank Merriam will probably be the Republican candidate. No Californian doubts what will be the prime campaign issue...
Meanwhile, the cities involved, quick to recognize that they would not need to levy taxes if they could charge royalties on their underwater oil, suggested gently that they, not the State, held the title. In Washington, the House Judiciary Committee, holding hearings on a Nye resolution to make the undersea oil lands a Naval reserve, has spent most of its time wondering if anyone at all holds the title. The question has become important only recently with the development of offshore drilling, and the committee had few judicial decisions to guide it. The Senate applied the Nye resolution...
...Navy has three big oil reserves, one at Teapot Dome in Wyoming, two more in California, in Kern County and in the Buena Vista hills. The two California fields are checkerboarded with Standard Oil holdings. The resolution setting up the fourth big reserve provides that the Attorney General may take action against companies now operating in the tidelands. That, of course, will take time. Standard and its competitors last week continued to take out offshore oil. Frequently in the past year they have got as much as 15,000 barrels...
...Tulsa, Okla., Franks Manufacturing Corp. put on display a new, aluminum-colored, portable rotary drilling rig which can be mounted on an automobile trailer. It attracted little attention. Just to have something to do, attendants started up the rig and began to drill. At 540 feet they struck oil. In some confusion they capped the hole. Tulsa County, which holds mineral rights underneath the exposition, indicated that it would be willing to receive offers...