Abstract
IN his lecture on “Rationalisation of the Oil Industry” delivered to members of the World Petroleum Congress on July 21, Mr. J. B. Aug. Kessler contended that the lack of balance between production and consumption of each individual main product in the petroleum range is largely responsible for the present depressed state of the industry. Hitherto, the abnormally low prices prevailing for gasoline and fuel oil have been attributed generally to over-production of crude oil and to a systematic decrease in the consumption of its products. During the past few years, conservation of crude oil has been rigorously adopted as a corrective measure against these two major evils, but the fact remains that, although the consumption of petroleum products as a whole has exceeded the production, prices have fallen rapidly.
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Rationalisation of the Oil Industry. Nature 132, 214–215 (1933). https://doi.org/10.1038/132214b0
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DOI: https://doi.org/10.1038/132214b0