Salt Lake Telegram | 1931-07-22 | Page 15 | Oil Shutdown Idea Spreads

Oil Shutdown Idea Spreads OKLAHOMA CITY July 22 W The Empire Oil Refining company the British American Oil Producing company and several other producers joined the movement In the Oklahoma Okla Okia- homa City field today for a shutdown shut shut- down of well until prices are substantially higher A survey of the Oklahoma City oilfield oilS oil field today showed 19 companies either subscribing to the shutdown movement Initiated several days ago or entirely shut down temporarily These companies have a total of of the producers In the field and the total gauge of the potential of ot the closed ln wells was barrels compared with the gauged potential of the field of barrels barrels bar bar- of July 1 In the group of shutdown shutdown shut shut- down wells there were wells wells- which had no potential NEW YORK July Th Thc American Petroleum Institutes Institute's corn com on OH refinery statistics and economics eco eco- today estimated that total de demand demand de- de mand for refinery gasoline in the second second sec sec- ond year half would increase 37 per percent percent cent over the corresponding period of oC 1930 Domestic demand it was forecast fore fore- ca cast st st. would rise 57 per cent while exports exports ex- ex ports would be 10 per cent lower