Word: outflowing
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Dates: during 1930-1939
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...American Petroleum Institute's voluntary nationwide agreement to hold down oil production, only to have the Department of Justice rule that such a scheme was possibly an anti-trust violation (TIME, April 22). His third proposal was a series of state treaties under the Constitution to limit the outflow of oil. Nine oil-state governors met at Colorado Springs to cold-shoulder this plan. Last week in California, Secretary Wilbur put fresh momentum into this major Hoover policy by pleading for voluntary intrastate agreements among the oil producers...