OCR Text |
Show THE SHARKEY ACT. The Sharkey Act an oil conservation conserva-tion measure has been passed by the legislature of California and signed by the governor. It is believed that this marks an important step forward for-ward in the history of efforts to prevent pre-vent oil waste. If the law operates as is hoped, over-production, with its disastrous attendant evils, will be banished in that state. The act specifically prohibits waste and, of greater importance, arrives at a concrete definition of what waste really is. Under the terms of the act, waste includes: Underground and surface waste, waste in storage, waste due to production in excess of demand, de-mand, etc. It would seem that if oil production and consumption can be balanced, the Sharkey Act should do it. The working of the act will be watched with interest all over the nation. na-tion. It is pointed out, however, that even if the act works successfully in California, no great good will be accomplished ac-complished if production is allowed to run wild in other states. Oil conservation conser-vation must eventually be handled on a national basis. |