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Union Oil & Gas Corporation of Louisiana, Houston, Tex.—Venezuela

United Carbon Co., Charleston, W. Va.—Colombia

United Cuban Oil Co., Inc., Los Angeles, Calif—Cuba

United Fruit Co., New York, X. Y.—Panama

United States Smelting, Refining & Mining Co., Boston, Mass.—Canada

Utah Construction Co., Salt Lake City, Utah—Panama

Venezuela Independent Oil & Refining Co.,—Venezuela

Venezuelan Leasholds, S. A., Houston, Tex.—Venezuela

Venezuela Oil, RFO, S. A.—Cuba, Venezuela

Venezuela Syndicate, Inc., Houston, Tex.—Venezuela

Vimex Oil Co., Houston, Tex.—Venezuela

Waterford Oil Co., New Orleans, La.—Nicaragua

Western Hemisphere Petroleum Corp.,—Canada, Cuba, Colombia, Honduras

Western Natural Gas Co., Houston, Tex.—Venezuela

White Eagle Oil Co., Tulsa, Okla.—Bolivia, Venezuela, Philippines

Wichita River Oil Corp., New York, X. Y.—Mexico

Woodley Petroleum Co., Houston, Tex.—Canada

Charles B. Wrightsman, Houston, Tex.—Sicily

Yemen Development Corp., Washington. D. C.—Yemen

Zimerl Jordanian Oil Co. (J. W. Sparks), Jackson, Miss.—Jordan.

Semimajorb And Their Subsidiaries

Amerada Petroleum Corp., New York, X. Y.—Canada, Guatemala, Peru, Venezuela, Egypt, Iran, Libya, Somalia, Somaliland Ashland Oil & Refining Co., Ashland, Ky.—Canada, Guatemala, Venezuela,

Xeutral Zone Atlantic Refining Co., Philadelphia, Pa.—Canada, Cuba, Guatemala, Venezuela,

Iran, Saudi Arabia, Syria, Turkey Canadian Superior Oil Company of California—Canada Cities Service Oil Co., Xew York, X. Y.—Canada, Colombia, Peru, Venezuela,

Algeria, Dhofar, Egypt, Iran, Oman, Sahara Conorada Petroleum Co., New York, N. Y.—Peru, British Somaliland, Iran Continental Oil Co., Houston, Tex.—Canada, Guatemala, Peru, Venezuela, Egypt,

Iran, Libya, Somalia, Somaliland Ohio Oil Co., Findlay, Ohio.—Alaska, Canada, Bolivia, Guatemala, Venezuela,

Egypt, Libya, Somalia, Somollland Oasis Oil Co., Findlay, Ohio.—Egypt, Libya Phillips Oil Co., Ltd.—Canada Phillips Petroleum Co., Bartlesville, Okla.—Alaska, Canada, Mexico, Venezuela,

Neutral Zone, Jordan Pure Oil Co., Chicago, 111.—Bolivia, Colombia, Paraguay, Venezuela Richfield Oil Co., Los Angeles, Calif.—Alaska, Canada, Bolivia, Peru, Venezuela,

Dhofar, Egypt
Signal Exploration Co., Los Angeles, Calif.—Guatemala, Venezuela
Signal Oil & Gas Co., Los Angeles, Calif.—Canada, Guatemala, Venezuela, Iran,

Neutral Zone
Sinclair Oil Corp., New York, N. Y.—Cuba, Venezuela, Algeria
Sinclair Oil Corporation of Canada.—Canada
Sinclair Petroleum Co., New York, N. Y.—Cuba, Somalia

Sun Oil Co., Philadelphia, Pa.—Canada, Bahamas, Colombia, Guatemala, Vene-
zuela, Australia, Pakistan
Superior Oil Company of Venezuela, Los Angeles, Calif.—Canada, Venezuela
Sahara Petroleum Oil Co., Houston, Tex.—Egypt

Tidewater Oil Co., San Francisco, Calif.—Canada, Bolivia, Guatemala, Iran
Vnion Oil Company of California, Los Angeles, Calif.—Alaska, Canada, Colom-
bia, Costa Rica, Cuba, Guatemala, Panama, Paraguay, Peru
Venezuelan Petroleum Co., New York, N. Y.—Venezuela
Zulia Petroleum Corp.—Venezuela

Income from oil wellsValue of oil and gas from oil wells and gross revenue per

well

Year

1940.. 1941.. 1942.. 1943.. 1944.. 1945.. 1946.. 1947.. 1948.. 1949.. 1950.. 1951.. 1952.. 1953.. 1954.. 1955.. 1956.. 1957 ».

Average
number
produc-
ing oil
wells'

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Market value of crude oil

(in millions)

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Oil reve-
nue per
well

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Total

gross

revenue

per well

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12, 721

13, 272
13, 512
14,587

154
177
190
191
212
27,5
333
341
409
543
624
775
883
978
1,089
1,182

.54 (HI 65 65 81 121 120 lit'. 139 179 206 256 283 323 3S9 390

181 193 284 297 2fi4 304 380 427 S19 560 624 666 701

'Average of wells reported at beginning and end of year.

1 Preliminary estimates based upon partial data reported by Bureau of Mines and American Gas Association.

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ACTUAL SHARE OF MARKET DEMAND
AS HELD BY U.S. AND IMPORTED OIL
COMBINED SHOWS DECREASE DUE TO
COMPETING DOMESTIC ALTERNATIVE

FUELS FROM NATURAL GAS

COMPETITION OF IMPORTS

HOW DOMESTIC CRUDE'S

SHARE WOULD STILL HAVE

DECLINED HAD THERE BEEN NO OIL IMPORTS!

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Exhibit VI

It thus becomes evident that drastic curtailment of petroleum imports could not have much influence on these inescapable market trends, because natural gas is underpriced and therefore more economical to use (costing about onefifth as much per British thermal unit) as oil.

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Exhibit VII

Fortunately for the oil producer, despite the fact it is underpriced in terms of its fuel value, the natural gas he formerly burned in flares for lack of markets now provides valuable supplementary income.

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Exhibit VIII

The additional income derived from growing sales of natural gas products has oabined with an almost uninterrupted increase in the value of crude to help te producer, for imports have not caused damage to price structures.

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Exhibit IX

Anti-imports spokesmen deal In percentage growth of imports to obscure the that actual volumetric growth of domestic petroleum production has ronto be much more rapid than rise in import levels. They have not lost of their sales volume: they have failed to gain as much as they want.

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