Show olli OIL SHORTAGE b the so called oil shortage scara scarb on tile the eastern seaboard promoted for foi reasons hard haid to un dei der stand lies has vanished like it a morning mist according to a congressional congi ess ional committee investigation there Is no serious aeilous shortage in tho the foreseeable future the pro ducile capacity of the Atile rican oil industry ls Is anore rooie than adequate to meet today s enormous enoi boils moils military demand as well as the nominal civilian domand demand A transportation problem was created by the transfer of tankers to areat britain that problem Is now being met by moving oil by rall lall even though the cost to the industry la Is higher by the construction of additional pipelines and in many cases by using coal instead ot of oil in industrial operations this country produces more than 60 per pel cout of 0 all the oil in the world it produces pio duces oils of 0 a quality unequal unequaled od elsewhere that Is what private enterprise has done and all tile the politically in juniors of oe grave grae shortages cant can t bilde it friendly cooperation with industry as dislocation problems arise due to defense needs will do more to sole them than autocratic punitive action |