Red Oil

Last week the U. S. Department of Commerce announced that in 1931:

1) Russia rose from third to second rank as a world oil producer, nosing out Venezuela which dropped back to third place while the U. S. remains first.

2) The U. S. produced 850,275,000 barrels of oil, Russia 161,900,000, Venezuela 118,770,000.

3) Talk about "restriction" did produce the small result that last year the world gushed 40,000,000 barrels less than in 1930.

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