Publisher's Synopsis
Excerpt from Petroleum Investigation, Vol. 2: Hearing Before a Subcommittee of the Committee on Interstate and Foreign Commerce, House of Representatives, Seventy-Sixth Congress, Third Session
It is a matter of common knowledge that prior to the introduction of the resolution directing the investigation in 1934 there was per sistent demand on the part of many residents of the major oil producing States for the enactment of the then-pending Thomas Disney bill, which bill sought to vest in the Federal Government broad powers to regulate the petroleum industry in many of its activities. In lieu of the favorable. Consideration of this measure, the House Committee on Interstate and Foreign Commerce recommended an investigation. A resolution calling for such investigation was introduced, which was later approved.
During the investigation of 1934 our committee gave considerable encouragement to the formation of an interstate oil compact with the idea of having the oil-producing States through this method handle the problems involved in the-proceedings now before us without much aid from the Federal Government, We were privileged to attend the first meeting of the Governors of the oil-producing States held at Ponca City, Okla, in December 1934, at which time the Governors of the States of Texas, Oklahoma, and Kansas, and official representatives of the Governors of a number of the other producing States were present.
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