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Mexico, while plumping 1,000% for the State Department deal, also had reason to lean a bit toward the Parish compromise. Since Mexico kicked the gringos back up north, its oil properties have been limping and stalling. Last year's production was 40,300,000 bbl.-compared to 46,500,000 bbl. in the last pre-expropriation year. Exploration has almost stopped. Some of the movable equipment has been shipped to Japan for scrap, in exchange for the kind of ready cash that used to pour in from oil-company taxes. President Avila Camacho might well find...
...Maloney's committee, picking up the shells one at a time, seemed to reveal no pea at all. After listening to eleven days of testimony, it reported flatly that there was no shortage: the railroads could provide 20,000 now idle tank cars to transport 200,000 bbl. a day, more than enough to make up for the diversion of tankers. It recommended that Ickes drop his filling-station curfew, his 10% cut in deliveries to distributors, above all his shrieks and alarms. Said the committee, giving Honest Harold the lumps: "... Had an adequate analysis been made . . . the confusion...
...most obvious lack. She produces only 10% of her peacetime needs. She depends for the rest on the U.S., the Netherlands East Indies, British Borneo, Latin America. Under the State Department policy designed to keep Japan from moving into the East Indies, the U.S. sent Japan 16,086,000 bbl. of petroleum and petroleum products in 1939, 11,529,000 bbl. last year, about 1,150,000 bbl. a month this year. Until this week, Japan also got 1,800,000 tons (around 14,000,000 bbl.) a year from the East Indies under a contract with the Dutch. That...
Because they can carry oil for one-third pipeline and one-tenth tank-car costs, tankers normally carry 90% of the 1,500,000 bbl. used each day on the Atlantic seaboard. When the first 50 tankers went, oilmen tightened their belts by speedups in tanker service, heavier loading, greater use of pipeline and rail. The loss of 100 more tankers would cut the daily intercoastal tanker haul to less than 600,000 bbl. This is a chasm no stopgap methods can bridge...
After pointing out that its predictions might be upset if still more tankers are withdrawn for the British shuttle, the committee estimated that in the present quarter, oil deliveries to the East will be 11,200,000 bbl. short, 8.8% of East Coast demand. The shortage for the winter quarter will be 23,300,000 bbl. (15%), for the first quarter of next year, 19,400,000 bbl. Assuming that 10,000 deadweight tons of tanker can haul 375,000 bbl. of oil a quarter, the committee translated these barrel shortages into tanker shortages: 300,000 tons this summer...