Lviv. The daily “Chwila” publishes Izydor Schulz’s statement on the situation of the Polish oil industry.
Izydor Schulz – the director of the Warsaw branch of “Galicja” SA – speaks about the oil industry crisis. The text is a response to a statement by Prime Minister Władysław Grabski, disappointed with the pace of development of the oil industry in Poland. According to engineer Schulz, this crisis is the result of the economic decline of the entire Polish industry. However, due to the specific nature of the oil sector, the recession is delayed in time. Moreover, the increasing costs of extracting Polish oil mean that its production is no longer profitable and competitive. As a result of underselling, with the prices adjusted to the world markets, the costs become higher than the potential income. As reported by Izydor Schulz, the loss of markets is the responsibility of the government, which is unable to defend the interests of the Polish economy, plunging into ever greater stagnation. At the end of the speech, the director of “Galicja” presents in points a recovery plan for the oil industry, which should be implemented by the authorities as soon as possible.
See also: 17 July 1925*, 10 September 1928*, 18 February 1931*, 25 March 1933*. (ts) (transl. mw)
