The Oil Leasing Policy of the New Administration

Archive Report

A sweeping change of government policy regarding the exploitation of petroleum deposits on government lands was announced by President Hoover on March 12, In answer to a question submitted to him at the White House press conference, Mr. Hoover said: “There will be no sale or disposal of government oil lands, no matter what category they lie in, of government holdings or government controls, except those which may be mandatory by Congress, In other words, there will be complete conservation of government oil in this administration.” The President, it was explained, spoke with reference to public land and government reserves only, and no mention was made regarding the conservation of privately controlled petroleum deposits held for or in the process of commercial exploitation.

Shortly after ...

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