in this department this question:

If in the next five years there should develop a new demand for
petroleum over and above that now existing, which would amount to
100,000,000 barrels a year, where could such a supply be found, and
what policy should be adopted to secure it?

The conclusions of this board may be summarized as follows:

(1) Such an oil need could not be met from domestic sources of
supply.

(2) It could not be assured unless equal opportunities were given
our nationals for commercial development of foreign oils.

(3) Assurance of this oil supply therefore inevitably entails
political as well as commercial competition with other nationals,
as other nationals controlling foreign sources of supply have
adopted policies that discriminate against, hinder, and even
prevent our nationals entering foreign fields.

(4) The encouragement of and effective assistance to our nationals
in developing foreign fields is essential to securing the oil
needed.

(5) Commercial control by our nationals over large foreign sources
of supply will be essential if the estimated requirements are to be
assured.

(6) It is necessary that all countries be induced to abandon or
adequately modify present discriminatory policies and that the
interest of our nationals be protected.

(7) Some form of world-wide oil-producing, purchasing, and
marketing agency fostered by this Government seems essential to
assure the commercial control over sufficient resources to meet the
competition of other nationals. England has apparently adopted such
a policy.

This board proposed the following program of action:

(1) To secure the removal of all discriminations to the end that
our nationals may enjoy in other countries all the privileges now
enjoyed by other nationals in ours:

(_a_) By appropriate diplomatic and trade measures.

(_b_) By securing equal rights to our nationals in countries newly
organized as mandatories.

(2) To encourage our nationals to acquire, develop, and market oil
in foreign countries:

(_a_) By assured adequate protection of our citizens engaged in
securing and developing foreign oil fields.

(_b_) By promotion of syndication of our nationals engaged in
foreign business, in order to effectually conduct oil develop