Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-07-18
STABLE OIL PRICES
PROGRAM OUTLINED
Petroleum War Service Com.
mittee Lays Plans Before
Requa
Washington. July 1s.


a program to stabilize the price of
crude oil throughout the producing fields
oc the United States and at the same
time to keep an uninterrupted flow NOV
ing in its present channels has been
laid before NJ. l.. Requa. director of
the oil division of the fuel administra-
ton. by the National Petroleum War
Service Committee. fully representative
of the important producers.
The scheme. which would he effective
Immediately and continue unit, Novem-
ber /, contempates price exchanges in
the Appalachian. midcontinental, gulf
and northern louisiana Rocky Mountain
and Pacific coast divisions of tho in
dustry.
BY its terms. purchasers in the Ap-
palachian district would continue to buy
at their posted market price, and those
who have been paying premium here
after would be permitted to pay an
amount not to exceed ten cents barrel
above the posted price. II the arrange
ment is adopted. producers will be re-
quested to make monthly sales of their
crude oil
In a letter to Mr.. Requa, A. C. Bed
ford. chairman of the oil mems commit
tee, said that the plan had been ap-
proved by advisory committees from the
various districts representing the pro-
duction, refining and distribution ends
of the industry He urged that the
oil administrator visit the midcontinen.
tai and the Gulf districts before any
plan OF oil prices was finally adopted.
He expressed the spirit In which the
oil men approached Government re-
Quirements as follows:
The National Petroleum War Service
Committee has the utmost confidence In
assuming the approval Of the oil divi-
sion of the United States fuel admin
stration. that the oil industry will con-
form patriotically and Loyalty to the
recommendations herein set forth"
The recommendations as adopted at
the meeting Of the national petroleum
war service committee July 13, 1918.
are:
For the Appalachian division:
First. That the large purchasing COM
panies continue to purchase crude oil at
their posted market price and that all
other purchasers who now pay prem
ium for crude oil be hereafter permit
ted to pay n premium not to exceed ten
cents barrel above the posted prices
for the various grades of crude oil
Second That all producers are re-
uuested to make monthly sales of their
crude oil.
First. That the large purchasing COM
panies continue to purchase crude oil at
their posted market price and that all
other purchasers who now pay premium
for crude oil be permitted hereafter to
pay up to a maximum premium above
posted market prices. as follows:
For Cushing crude. n maximum prem
ium of seventy-fve cents a barrel.
For CARRIER and allied billings crude.
a maximum premium of 81 a barrel
For Kay County crude. a maximum
premium of sixty cents a barrel
And for all other crudes for the whole
midcontinent division. including Kansas,
oklahoma and northern Texas. a maxi
mum premium not to exceed twenty-five
cents barrel. with the strict under
standing that in no district in which
premiums are being paid of less than
twenty-five cents a barrel will the oil
! administration permit the paying Of a
higher premium than is now in effect