The petroleum industry did not feel the full effect of the war until 1942. Prior to that time, it had experienced an increase in demand following the outbreak of war in 1939, a loss of large European export markets in 1940, and the diversion of tankers to Great Britain in the summer of 1941. Adjustments to these developments were relatively easy, however, and the really difficult problems resulting from the war did not occur for the petroleum industry until this country became engaged in war. During 1942, the industry experienced major changes in its operations, the most outstanding of which...
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