The President's News Conference
OIL IMPORTS AND PRODUCTION
THE PRESIDENT. I haven't anything of startling interest. I have been trying to get together a little statement as to the situation in the oil industry, and I will have it ready and give it to you mimeographed in the course of half an hour or so. It bears on the question of proration being brought about by the Oil Conservation Board in the different States under their State authorities, and the effort being made by the Board on the proration of imports.
I have had several hundred telegrams from different parts of the country, and this is in the nature of a statement as to what the present situation is all around. Otherwise than that I haven't anything today.
Note: President Hoover's one hundred and seventy-ninth news conference was held in the White House at 4 p.m. on Thursday, March 12, 1931.
The White House issued a text of the President's statement on oil imports and production (see Item 100).
Herbert Hoover, The President's News Conference Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/207490