“Ernest O. Thompson (1892-1966), head of the TRC from 1932 to 1965, took charge of the agency and indeed the oil industry by appealing to an ideal of Texas’ role in the global oil order—the civil religion of Texas oil. He cajoled, harangued, and browbeat recalcitrant producers into compliance with the TRC’s prorationing orders. The New Deal allowed the TRC to set national oil policy.[9] As late as the 1950s the TRC controlled over 40% of United States crude production and approximately half of estimated national proved reserves. It served as a model in the creation of OPEC.[10] Gordon M. Griffin, chief engineer of the TRC during World War II, developed the formula for prorationing to keep production flowing for the military.”
Thanks for the data. It was apparent that the late 1950’s and throughout the 1960’s our oil industry leaders got in bed with the Opecker Princes, declared that we were running out of oil in America and allowed the Opeckers to control our economy.
What is interesting now, is how the newer USA oil company leaders have turned this around to our advantage.
It was just easier and cheaper to let “them” do it. Or so they thought.