JUNE 17, 1931

Full News Archive

• Headline: Oil Code Approved by Trade Commission. Impact: The approval of the oil code led to an uptick in oil consumption, which in turn fueled the rise of gas-guzzling cars. This contributed to a dependency on oil that eventually led to the invention of the 'road trip'—a rite of passage that somehow still involves way too much fast food and questionable music.. Fact: The American Petroleum Institute is like the cool kid in the oil playground, but instead of sharing, they just keep rewriting the rules to ensure they get all the swings..
• Headline: CONSIDER ROUND TABLE IN PALESTINE PROBLEM; British Weigh Idea of Bringing Arabs and Jews Together to Settle Differences.. Impact: The British attempt to bring Arabs and Jews together may have seemed noble at the time, but it also set the stage for decades of complex negotiations, misunderstandings, and the birth of a whole new genre of diplomatic headache.. Fact: Round tables are great for discussions but terrible for actual resolutions—just ask any medieval knight who ever tried to settle a disagreement over dinner..
• Headline: OIL INDEPENDENTS ASK HOOVER FOR EMBARGO; Heavy Imports, It Is Charged, Make for Monopolistic Control of the Industry Here.. Impact: Hoover's response to the oil independents could have altered the landscape of the oil industry forever. If he had imposed the embargo, we might have seen a surge in alternative energy sources much earlier, or at least fewer oil spills narrated by dramatic news anchors.. Fact: Asking Hoover for an embargo is like asking your neighbor to stop using their leaf blower at 7 AM on a Saturday—good luck with that!.
• Headline: COLOMBIA PARLIAMENT APPROVES OIL GRANT; Bill Passes on Second Reading Giving 50-Year Concession to Gulf Oil Company.. Impact: Colombia’s oil grant to Gulf Oil Company kickstarted a trend of foreign investment that would lead to a complicated love-hate relationship with oil, culminating in environmental disasters and economic booms, because who doesn’t love a good paradox?. Fact: A 50-year concession sounds like a great deal until you realize it’s just long enough for them to make a movie about it—complete with a dramatic soundtrack and lots of explosions..
• Headline: DEFICIT RECEDES AS TAXES FLOW IN; Total on Saturday Had Dropped to $1,091,809,000 With First Receipts. NEW SAVINGS ARE PLANNED Budget for 1933 Will Recommend Economies Despite Expected Business Revival. 1932 Deficit May Be Greater. Budget to Urge Economies.. Impact: The budget deficit reduction might have seemed like a good sign at the time, but it also paved the way for future generations to continue the endless cycle of 'let's fix this mess'—which is essentially the adult version of cleaning your room by shoving everything under the bed.. Fact: Who knew that a deficit could recede faster than your enthusiasm for New Year's resolutions? But hey, at least they were planning savings—what a novel concept!.
• Headline: SKY FLEET BETTERED A.E.F. AIR CORPS RECORD; Armada in 21 Days Flew 2,000 Hours More Than Aces Did During World War.. Impact: Sky Fleet’s air corps record set new standards for military aviation, influencing everything from air travel safety regulations to the eventual launch of high-octane action movies starring Tom Cruise. Who knew flying more hours could lead to so much popcorn?. Fact: Flying 2,000 hours more than A.E.F. Air Corps is like bragging about running more marathons than your couch potato friends—impressive, but also a bit concerning..