California, and especially Los Angeles, is suffering from over-production of oil, according to Mr >S. W. Fitzherbert, of Auckland, who recently returned from the United States. One trader, lie said, had been selling gasoline for eight cents a gallon, and motor spirits could be bought anywhere for fifteen cents. Los Angeles was in the throes of oil and real estate booms, and the flow of oil from the numerous bores sunk even in the city’s suburbs was too great for the storage available. Although prices had been cut to very low levels, there had also been considerable waste of this , valuable national asset.
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Bibliographic details
King Country Chronicle, Volume XVIII, Issue 1896, 4 December 1923, Page 6
Word Count
103Untitled King Country Chronicle, Volume XVIII, Issue 1896, 4 December 1923, Page 6
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