Policy of the American Petroleum Institute

AT the Tulsa meeting of the A. P. I., the following reso-lutions, expressive of the policy of that organization, were among those adopted: RESOLVED, That we endorse the conclusion of the Federal Oil Conservation Board in its report of September, 1926, that the prevention of the waste of gas incident to the pro-duction of oil is of paramount importance in the conserva-tion and economical production of oil, and the president of the Institute is requested to appoint a committee of seven to devise and suggest to this board, or the executive com-mittee, such measures as will enable the industry, while continuing to meet the consumption requirements for pe-troleum and its products, to conserve in its natural state such reserves of petroleum as may not then be required for consumption. RESOLVED, That the president of the Institute appoint a committee of seven to formulate and recommend to this board or its executive committee, at the earliest practicable date, a program of legislation; Federal and State, to be advocated by the Institute giving sanction and effect to agreements by oil producers for the curtailment of produc-tion in pools where and during periods when there is over-production, having for their purpose the economical and orderly production of oil.