OCR Text |
Show THE AFTER EFFECTS It is foolish to consider that after effects of the so-called oil scandal will soon pass away without deleterious results to the oil industry. Already redical leaders demand lower gasoline prices or an effort will be made to nationalize the oil business. Stringent regulation of petroleum is proposed. - If no new oil fields are discovered, prices will rise in spite of any demands of politicians, federal regulation or government control. con-trol. The mere attacks that are launched by political agitators, the greater will be the curtailment in oil production and the higher will go the prices. Oil fields must be prospected and drilled unremittingly to keep up the supply. Hundreds of millions of dollars are needed for this purpose. Constant agitation against the industry and fear of unfair regulation intimidate the investing public with the result that capital is not forthcoming for normal oil development. When industry is crucified for political effect, 'the consumer pays the bill. |