RATIONALIZING OIL INDUSTEY,
At the recent meeting of the Shell Transport and Trading Company, the chairman, Viscount Bearsted, made some very interesting comments upon the present situation in the oil industry. After explaining that the increase in oil pro- duction during last year was not so great as in the preceding year, Lord Bearsted commented upon the great increase in production in the United States during the first three months of the current year, and in that connexion he made a strong plea for a sound rationalization of the industry, maintaining that such rationalization was in the interests of the consumer as well as of the produCer. Incidentally, Lord Bearsted made a good deal of the point that 'after allowing for the 4d.- per gallon represented by the .:Government. Tax,- petrol was 'among' the few commodities 'Which stood' -beloW the level of the- pre-War. price. • • • '•••• • ICA-alined' on page ktif)-;•" - - -
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