From a dedicated conservationist Gene Autry becomes a champion of the oil interests in this early western of his for Republic. One Judith Allen who's the banker's daughter and runs the local radio station which is mostly sponsored by the oil company which has a local drilling operation.
Said operation is what Gene's against. He takes the reasonable position that the oil when it comes up will poison the watering holes where the cattle drink. Then however when he finds out that the railroad is going to build a spur line for the oil company, then it will also be used by the ranches to ship their steaks on a hoof to the stockyards, that's different. I guess the cattle and the people can drink a little poison then. Sounds like a confirmed hyrdrofracker of today.
The villain here is Weldon Heyburn who's working his own agenda. He's an agent of the oil company, but he's wanting more than a salary and he gets it.
I saw a much abbreviated version, no doubt butchered for early television. Still I doubt the director's cut would be any better. And seeing our cowboy hero sell out to big oil today would not make this film popular in the circles I hang out in.