|
|
- NEWSLETTERS
- MOBILE APPS
-
ADD TIME NEWS
Business: Oklahoma Oil
The Oklahoma State Corporation Commission last week played its part towards restricting the overproduction of crude oil (TIME, July 18) by issuing a temporary order forbidding the drilling in of new oil wells or the shooting* of old ones in certain districts of the state. The peg for the order was the commission's belief that it was empowered to conserve the state's natural resources. Gypsy Oil Co. considered that peg too frail; protested at once that the order was unconstitutional because it deprived the company of enjoying the fruits of oil production, because it was discriminatory, because it took property without due process of law. The courts may be called to judgment.
* Frequently, when an oil well seems exhausted, oil men enliven it by exploding a charge of nitroglycerin in its depths. tA subsidiary of the Mellon family's Gulf Oil Co. William Larimer Mellon is president of Gulf Oil, chairman of Gypsy Oil.
Most Popular »
- America's Most Wanted Teenage Bandit
- Jenny Sanford: The Savviest Spurned Woman in History
- Corliss Appraises Avatar: A World of Wonder
- How to Rule India: Break It Into More Pieces?
- A Mounting Suicide Rate Prompts an Army Response
- Israel vs. Hizballah: Drumbeats of War
- Obama vs. the Banks: The Pressure Intensifies
- Forget Zhu Zhu Hamsters, Classic Toys Have Power
- The Berlusconi Attack: Will Italy's Leader Gain Sympathy?
- The Top 10 FAILs of 2009
- America's Most Wanted Teenage Bandit
- Jenny Sanford: The Savviest Spurned Woman in History
- A Mounting Suicide Rate Prompts an Army Response
- How to Rule India: Break It Into More Pieces?
- Facebook's Secret Code
- Obama vs. the Banks: The Pressure Intensifies
- Should Anthropologists Go to War?
- Forget Zhu Zhu Hamsters, Classic Toys Have Power
- Corliss Appraises Avatar: A World of Wonder
- The Top 10 FAILs of 2009





RSS