CSPAN3 American History TV October 6, 2014
During the decade after the first commercially producing well was completed in 1938. By was overtput 1947 400,000 barrels. And steadily climbing. This posed a problem of transportation. How to get the oil insufficient quantities and at reasonable costs to the areas of western europe where it was most needed. ,o reach the Mediterranean Sea ships loading in the persian gulf had to make a slow and costly voyage of more than 3000 ,iles through the gulf of oman the arabian sea, the red sea, and finally the gulf of suez and the privately owned suez canal. A toll of . 18 per barrel was imposed. Amoun...