NAZIS BAULKED

Timaru Herald, Volume CXLVIII, Issue 21554, 17 January 1940, Page 7

NAZIS BAULKED

Little Oil From Rumania

Influence Of Foreign

Control

United Press Association—By Electric Telegraph—Copyright

(Received January 16, 11.30 p.m.) BERLIN, January 15.

The economist, Heinrich Kroegerbochum, in an article in the “Frankfurter Zeitung” confesses that the Rumanian oilfields now operating will be exhausted in six years. Only 40,000,000 tons are available. British, French and Netherlands companies, who control the bulk of the output, have lowered the standard of production ridiculously and increased prices as an anti-German move. Rumania’s favouring of the pound sterling has already negatived the new German-Rumanian exchange rate. Germany has always been Rumania's best customer but vae financial strength of foreign companies has enabled them to snap up newly discovered wells and they are going their utmost to prevent supplies from reaching Germany. Fires, explosions and accidents have further decreased production. The Western Powers control the system of pipelining oil to the Black Sea for tanker shipment, whereas Germany’s facilities for transport on the Danube River are small and convey? ■ice by railway tank depends on the available rolling stock.