The President's News Conference
08/03/1931
https://www.presidency.ucsb.edu...
They know there is a limit to oil supplies, and that the time will come when the Nation will need this oil much more than it is needed now.
It is expected that under the present contracts the South American airmail service will be in operation some time in April or May.
In fact, there are no half measures in oil conservation.
I propose to deal with these matters in my message to Congress, and I do not care to enter into any debate on them prior to that time.