Success Story
Denied
Expansion by His Bankers,
Sinclair Builds Big New Company Along Gulf and
Atlantic Coasts
Under booming war conditions, Harry
F. Sinclair
saw
enticing opportunities to extend his oil
domain along the Gulf of Mexico and the Atlantic
coast. But his bankers refused to finance such
expansion, since the $50-million building
program was under way in the mid-continent.
Sinclair's reaction was typical. He organized a
separate complex in 1917 to fulfill his vision.Sinclair
Gulf Corporation was a wedding of three
established enterprises, plus 16,000 barrels a
day of oil production in Oklahoma, Texas,
Louisiana and Arkansas, plus a potential 150,000
barrels a day in Mexico. From a 15,000-barrel
refinery at Mereaux, Louisiana, near New
Orleans, 17 tankers spread products to ocean
terminals as far away as New York harbor. A pipe
line was under construction from Oklahoma to the
Houston, Texas ship channel, to serve a proposed
lubricants refinery there.
Vital as
these acquisitions were, an important extra was a
staff of 4,000 employees skilled in key branches
of the industry. Sinclair Gulf, at its birth,
was almost as large as the other Sinclair
corporation.
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