Show lOlL OiL BUSINESS REQUIRES MORE FINANCIAL AID Consumption of Crude Cde Oil Oi Greatly Greaty Exceeds Output Now New York Feb 7 There Thero never novel was wan wana wasa a n time In tho Limo his history tor of or tho the oil 01 Industry in industry industry In- In when conditions warranted a 4 amore amore more Intensive c application of or money I to to its Is development than at present This is the consensus of or prominent oil 01 mono mon Consumption of oC cru crude o oil oi Inthis Inthis in inthis this country in 1919 is placed at barrels whereas production was wa as about barrels deficiency In production being met Jet b by Imports from Mexico Had there thero not been a remarkable increase in production in II Texas last year ear production would have havo be boon on seriously lacking In 1919 Texas produced about barrels barrels bar bar- of or oil oU an a increase of ot over lOiS Its Is pro production last year car was practically one fourth of or tho country's total Stan Standard ard Oil 01 company of or Now ow Jor Jersey c through a subsidiary spent millions of ot dollars last year ear in Texas roxas It I is Js estimated It I put into humble Humble Humble Hum Hum- ble Oil 01 Refining company alone alono through the thc Carter Oil 01 company Standard Oil 01 company compan of ot New Jersey according to latest statement produces produces pro pro- duces 2 per cent of or tho country's production and 1668 per pel cent or of crude oil 01 It i refines reines It I thus Is Js a a. a big bit 1 buyer of or crude crudo oil 01 A reference In the time Lamp the house organ oran of Standard Oil 01 com company pan of 01 Now Jerse Jersey to a falling oft off in flush ush production pro pro- lUction ducton in now new Texas s fields appear to have havo been misunderstood In certain quarters The article artcle said what every cr oil al man knows that th flush fush production recedes to a a. settled Bottled basis Recent advances ad ad- td- td vances of at from 50 cents to 1 a barrel in prices of or crudo crude oil bringing them thorn to highest level have made settled production highly valuable |