I I ill Oil T Is IS Joining Hi Cost Costra I By Ira ra C. C Tichenor If F TT- TT IS IS' s' s not ot gener generally lly known outside of th the trade that within the 1 past few months two advances of 25 cents each each- per barrel have b ben n made in the price of crude petroleum bringing the te cost to 3 3 per barrel barret On top of this his comes the prediction of a awell awell well ell known oil expert that the price of crt crude petroleum will touch an even f four ur d dollars before the end of 1920 This means o of course a constantly advancing price for or refined products product including gasoline the requirements for tor which also are increasing at an aJI enormous rate It f is I estimated that about automobiles were manufactured in America in 1919 while while- estimates for tor the current years year's production run a as high as es cars The Tho oil oU situation in America has haa be become ome a a. serious problem and it is certain to become more serious as the months and years progress owing to the tho decre decreasing production and ond the tho increasing consumption Lest Lat year the consumption n of petroleum In the United States tates is estimated to have havo been barrels barrets against a Q domestic production of ot approximately barret barrels Because of this immense consuming power it was necessary to import more than barrels barrel of ot erode crude in 1919 As Aa recently as 1912 the tho United States was consuming abo about t barrels a year or slightly more than was being pro produced Between that year yur and 1919 the tha production was Increased by about barrels a year eu but it is 15 still more th than n barrels short of the requirements While about 60 per cent of ot the crude crudo oil produced in the world is from the fields of ot the tho United States oil is being imported in increasing quantities and this means higher prices for refined products due to transportation costs The The- prevailing situation in itself itsel is a conclusive argument in favor favor of tho the immediate passage of the oil land tand leasing bill bUl which will have the effect of increasing production in several states elates