01/02/1930
https://www.presidency.ucsb.edu...
"On the 29th of January the Oil Conservation Board recommended to Congress that authority be given to the Federal Trade Commission to effect proration of imports, it being the Board's hope that a prora..."
"On March 5, therefore, the Board, with my approval, requested that importers should each voluntarily prorate their production from foreign pools and their imports into the United States, in order to g..."
"The consumption of the United States is approximately 900 million barrels per annum, the imports thus representing something over 11 percent and the exports about 16 percent of the total."
"The State authorities of Oklahoma have brought about similar restraint upon an enormous new pool discovered at Oklahoma City."