The World-Struggle for OilL'Espagnol de la Tramerye, Pierre Paul Ernest
History
The World-Struggle for Oil
L'Espagnol de la Tramerye, Pierre Paul Ernest
Petroleum; Petroleum industry and trade; War -- Economic aspects
The _Shell_ could scarcely cope with the task of supplying the British
Army. But for the help of the _Royal Dutch_ and the _Standard Oil_, "we
should have had to cease hostilities to our disadvantage, in the fifth
month of the War."[43]
After the Cartel of Ten was obliged to confess its impotence in the
midst of a crisis which nearly lost the War, its work was limited to
putting into good condition the products bought and stored by the
State. Its rôle had become singularly unimportant when the Minister of
Commerce transformed it into a consortium.
The petroleum consortium was born of the necessities of war, like the
consortium of cotton and the consortium of oils. In the midst of these
great conflicts, powerful economic associations, controlled by the
State, can alone save national manufactures and commerce from perishing
for want of materials, and can supply the enormous requirements created
by the war. When, through fear of other countries, the French Republic
took the form of an absolute monarchy, it inaugurated, under the guise
of a protective State socialism, a system of intense exploitation
of the nation's economic forces and of its products, which were
monopolized, seized, or requisitioned. The Government was, in fact,
reduced to a society of consortiums, which, each in its own domain,
were the sole buyers and distributors of wealth. There was the _Comité
des forges_ to deal with metallurgy; there was another for oil.
Because of the difficulties of importation, manual labour, raw
materials, freightage, and exchange, the simple liberty of the merchant
or the isolated manufacturer is no more than an empty word, perhaps
even a dangerous illusion.
The system of the consortium was urged by the United State Government.
Having created centralized organizations for its exports, it desired
that these organizations should come into contact, not with scattered
merchants, but with the Allied States themselves. The important
inter-allied agreements made in Paris and London, in November 1916
and December 1917, on the initiative of M. Clémentel, confirmed the
principle of these industrial and commercial syndicates, financially
responsible to the State, which becomes a direct buyer. Besides, the
French State was not anxious to see the incredible profits which were
going to result from the doubling of oil imports--imports of a value
of a thousand million francs yearly--fall into the hands of the Cartel
of Ten. It therefore imposed upon it, on March 29, 1918, after three
months of inquiries and hesitations, a curious contract.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account