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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,
Sun Oil Co., Philadelphia, Pa.—Canada, Bahamas, Colombia, Guatemala, Vene-
Tidewater Oil Co., San Francisco, Calif.—Canada, Bolivia, Guatemala, Iran
Income from oil wells—Value of oil and gas from oil wells and gross revenue per
1940.. 1941.. 1942.. 1943.. 1944.. 1945.. 1946.. 1947.. 1948.. 1949.. 1950.. 1951.. 1952.. 1953.. 1954.. 1955.. 1956.. 1957 ».
Market value of crude oil
.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.
ACTUAL SHARE OF MARKET DEMAND
FUELS FROM NATURAL GAS
COMPETITION OF IMPORTS
HOW DOMESTIC CRUDE'S
SHARE WOULD STILL HAVE
DECLINED HAD THERE BEEN NO OIL IMPORTS!
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.
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.
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.
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.