REPORTED ON TO SENATE.

Shannon News, 6 March 1923, Page 4

REPORTED ON TO SENATE.

' —' CONSUMERS FACED WITH INCREASED PRICES/ i_ ■ UNLESS GOVERNMENT ACTS. (Ilseeived Monday, 8.35 p.m.) WASHINGTON, March, 4. The Senate committee, headed by Senator Lafollette, has just rendered a report on the state of crude oil and petrol production and sale in the United- States, makiifg the charge that there is such a monopolistic control of the commodity that if conditions are not remedied, consumers in the next few years will, pay a dollar a gallon for motor spirit. The report states that the larger companies, notably the Standard Oil group, control the pro. duction and price and thal consumption is proceeding at such a rapid rate that oil experts declare that within ten years, or less, it will be necessary for refiners in the United States to secure at least 50 per cent, of their product abroad, since the American fields have already reached their peak production. The report ofi crude oil urges Government supervision of tne industry in- the interest of the consumer, from whose pocket the oil com. panics have drawn one thousand million dollars, or more within the last decade. -Si