Show REASONS FOR SPEEDING UP OIL production ki increased demand for Ane american rican petroleum front foreign sources due to the further recovery of europe is probable in 1926 according to F julius fohs folis consulting oil geologist and vice president of the humphreys corporation who reviewed present day conditions in the american oil industry before the recent annual meeting of the american institute of aiming mining and metallurgical engineers approximately 4 barrels or 52 per cent of the 1925 american oil arx oro came from 27 pools reaching the peak of their prodoc ton within the past three years and eight of these 27 pools reached their peak in the past year sir mr fohs folis pointed out it is probable that pro from these pools will decline at least one third in 1926 since not to exceed four of them have possibilities bili ties of extensions or increased deep sand production during the year in the different american fields mr ur fohs fobs predicted for 1926 increased production along the mexican gulf coast and in the texas fields outside of the gulf coast the california and appalachian fields he anticipated would just maintain present production or decline production is apt to deehne ne in the mississippi valley rocky mountain and kansas oklahoma fields it is unlikely that increased production in the gulf coast and texas districts will more than offset the possible decline in california while in the mississippi vaclev and mountain districts the decline will probably continue at a rate of about 10 per cent and in kansas oklahoma a much greater decline for the vear may reach approximately barrels the 1925 american oil production figures barr barrels elso showed an ail increase of 59 barrels oer 01 er 1924 imports in 1925 barrels showed little chinse eb from the previous years f figures agur indicated drnest COT coy in 1925 amounting to b barrels ar registered regist pred barrels less than in 1924 though there was actually greater utility in consumption lon due to increased gasoline ga production by cracking the 1925 exports of barrel barrels showed a dec decrease reave of barrels m biking flung altogether a total apparent decre decreased ased demand in 1925 of 10 barrels stated another way this means further diversion of fuel oil for cracking I 1 the excess of demand over supply in 1925 was barrels the I 1 increase of stocks over those at the aps fl se of 1024 was 33 barrels of the stocks on hand band at the close of 1925 about barrels in california are not imports from mexico venezuela 1 I 1 colombat Colom bit and peru are factors of increasing imi ini to the oil industry of this country the maximum production of these countries for 1926 may be estimated at earrell As american production declines these countries especially especial venezuela and possibly Colom colombia colombian vill be factors of great importance in meeting ATner american ican demand it would biot i ofa be suri ning qing if by 1930 the united states would actually we welcome these imports if these latin american states produce and use perhaps barrels it will leave barrels for export I 1 but part of this will go as previously to europe and el elsewhere the o estimated decline in mexican production for 1926 of 14 barrels will just about offset the expected production increase in south america hence there is apt to be no material increase of imports into the united states in 1926 and the production deficit f for 1926 will have to be made madie up from stocks on hand a salient thing for the industry california chien in 1925 produced barrels or barrels more than oklahoma kansas fields and barrels in excess of texas production easily held front rank alonz the states california bids fair mr fobs predicted to hold front rank in oil production during 1926 and possibly 1927 during 1928 oklahoma kan sas or california may hold holl first rank ranka I 1 and it will probably be before texas reaches this position due to i increased gulf coast salt dome |