The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-04-04
OIL PROBE WILL
FIND PRICE LOW
Government to Look Into
Industry if Bill
Passes.
WANT INVESTIGATION
Oil Man Says Finding Would
Show Higher Profits Justi-
fled by Increased Costs.

Concerning the pending oil invoe-
tIgation In tho lower house OF CON
ereas n prnmlnent Tulsa oil man has
subnitied tho following Belf-eXplun-
atorv statement.
The resolution introduced In the
lower house OF congress by Nepre-
sentative Dyer Of Missouri calling
for investigation Of the oil business
hv the attorney general Of IN"
United States has been reported out
of committee, favorably 20 the In
vcstiratlon but amended 10 ms TO
substitute the federal trade commis-
sion and the attorney general as the
Investigator Tho resolution b. now
upon the calendar Of the house To
he taken up by unanimous consent
and no doubt In this year Of vote
seeking" II viii be adopted nud the
iuvestigatiou viii no doubt be made.
Tho resolution Itself requires tho
final report 10 be made, back to con
greas not later than Juno J. While "
In ebvlously absurd To attempt 10
make any sort " a fair invcstign-
tlon Of the Industry Ia this short
pcriod. the matter should bo wei
coined by everyone Interested In any
brartN OF the oil business, because
the result. II fairly and lmpnrtinlly
arrived at will show that present
prices for both crude and refined oil
arc very much below what that
should be
While the war was on the federal
trnde commission made an invosti-
CATION OF some parts OF the Industry
and gave II a clean bill Of health
and much OF the material collected
In that investigation Will probably
he used In tho one now impending.
II this Is done "a great injustice VIII
result to the industry because costs
OF material and labor have advanced
enormously since the date OF that
investigation. Costs OF producing.
transporting and refining have In
creased tremendously and u is up to
every producer rofinor and pipe
liner to come right to the front with
all of the information that he has at
his disposal to assist the commits
sion In getting at all the facts The
actual facta In connection with the
profits OF independent producers and
reilncrs viii make tale that should
cause the commission to make "A re-
port favoring government sub
sidlg rics to the oil men instead OF re-
strictive legislation or regulation.
The great trouble with the whole
thing IN. that the commission with
the short time allotted to Il, will
not be able TO get any idea of the
real facts In connection with the
profits In the business. As result of
this. they are apt to base their con
illusions on u few isolated cases en-
voiving some OF the larger com
panics, which may show fair sized
profits and any legislative action
based on such n report would be a
frightful discrimination against tn,
smaller companies by which Is
meant. the independent companlo,
and individuals; this being NO. It ~
very advisable that all OF the inde-
pendents In all lines OF the business
cooperate fully and freely with the
commission, and In fact Insist on
being heard by the commission with
reference to the profits acoruing tc
the industry In all its branches sine,
the signing OF the armistice.
IL this Is done and the real fncu
are hammered home to the commits
sion its report will be, not that tn,
price of crude and refined products
In abnormnlly high, but that they ar'
abnormally low, undor existing con
ditions. and that unless the norma
laws OF trade aud commerce are per
nlitted to work uninterruptedly, tn,
supply OF crude and refined product
which are absolutely vital and neccs
sary to the progress OF general bust
ness throughout the country will h
seriously curtAilod and the entlr
business of the country seriousl,
hampered