THE WORLD'S OIL

Evening Post, Volume CIV, Issue 68, 17 September 1927, Page 25

THE WORLD'S OIL

TRADE WAR. LOOMING

"A BITTER STRUGGLE"

I (From "The .Post's" Representative.) I NEW YOKE, 10th August. 1 The warfare which has developed jkmong the large oil companies of the 5 world, over the question of dealing with r Soviet Russia, was intensified when Sir : Henri Deterding, managing director of |the Boyal Dutch Shell group, issued a < statement, through his representative vigorously attacking the policy :|ji the Standard Oil Company of New \ York and the Vacuum Oil Company, which have made contracts for the purchase of oil from Bussia. The Stand<jMd Oil Company of New Jersey has that it will have no deall ings with Soviet interests, and "that it j^and the Boyal Dutch .Shell group had i greed upon a joint policy of no dealrig with Bussia until owners of the il are compensated. Sir Henri declares that the purchases £ Busaian oil made by the American ompanies not only run counter to\the iest interests of humanity and trade onesty, but are bound to replace imerican oil, of which there is at preant a large over-prodnetion. The pretdent of the Standard Oil Company of Tew Jersey has gone to London to eneavour to persuade Sir Henri to rerain from retaliating on the other two ompanies, because, as he said, they *jhad openly flouted their anti-Soviet policy, and from carrying out his threat Jjto invade their territories, not only in ijTEurope but in the Par East as well. yThe president of the New Jersey corporation feels that Ms company might jr-jnave to throw in its lot with that of other two American companies, and destroy the friendly affiliation it now has with the Shell corporation. £j The Standard of New York is. saia ttjto be fully prepared for a counterirthrust by the Boyal Dutch Shell, and V§b prepared to throw its vast resources •Pinto a bitter struggle for the protection of its business in Europe and the JtiFar East. ' The Boyal Dutch Shell is on warfare with the Standl^ard, and is even considering a fight ,-with the latter in its principal American markets. The Standard of. New Jersey is controlled by the same interests as the Standard of New York and ftthe Vacuum Company.