Soviet Fails to Capture Petrol Trade
WHEAT GAMBLE ALSO FAILS United Press Association. —By Elcctri® Telegraph.—Copyright. Received Monday, 9.50 p.m. LONDON, April IS. The Daily Express says that after years of endeavour Russia’s foreign oil depots are likely to be closed. Russian petrol is now selling at a loss of 2d. per gallon, and world production gives no promise of a substantial rise in price .for a long time. The Soviet Government believed that with the confiscated oil wells free of the incubus of capitalistic ownership it could under-sell the oil companies of the world and thereby raise much-needed funds abroad. The scheme was successful for a while, but over-production ended foreign credits. The Daily Express is of the opinion that, as the wheat gamble has also failed, the Five-year Plan may be regarded as a failure.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MT19320419.2.63
Bibliographic details
Manawatu Times, Volume LV, Issue 6837, 19 April 1932, Page 7
Word Count
137Soviet Fails to Capture Petrol Trade Manawatu Times, Volume LV, Issue 6837, 19 April 1932, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.