Show NOTES ON THE PETROLEUM SITUATION by A W ambrose the most active development in the oil fields of the united states continues to be in central and northern texas considerable activity also continues near homer louisiana in wyoming california kansas and oklahoma while prospecting continues in louisiana arizona new mexico utah montana and other states crude oil production and stocks the recent figures of the U S geological survey indicate a greater production of crude oil for june 1919 than for any month during the last year and a half credit for which is given to central and north texas it is interesting to note that the production for the first six months of 1919 as compared to the first six months of 1918 indicates a greater production for the year 1919 than for 1918 the production for the first six months of 1918 was barrels while for the first six months of 1919 it was barrels or an increase n of barrels the storage of domestic crude petroleum showed a more or less gradual decline during 1918 during which time some 2000 barrels of oil were withdrawn from storage while since the first of the year the amount of oil in storage has shown a more or less gradual increase of about 8 barrels and on june 30 1919 the total reserve approximated barrels petr petroleum olburn products the refinery statistics compiled by 11 F mason of the bureau of mines show some interesting figures relative to the status or of our petroleum products gasoline in the first six months of 1919 we produced gallons moro more of gasoline than in the first six months of 1918 and exported approximately I 1 is gallons less this decrease in export readily accounted for by the cessation or of hostilities during the first half of 1919 we exported of gas S gallons practically more oline to our insular possessions than dun a to the tal the same period in 1918 possibly due releasing of tankers for domestic trade the increase of home demands for gasoline is shown by the fact that during the doi domes nestle first six months of this year our gallons s consumption of gasoline was than for or barrels more wit w the first half of 1918 it is expected auto the ever increasing use and number of 01 ot of petroleum division U S bure n mines mobiles farm tractors and trucks the demand for gasoline will continue to increase the seasonal demands for gasoline is shown by a review of the amount of gasoline in storage on june 1918 there were gallons of gasoline in storage this was reduced by december 31 1918 to gallons but during the winter months the stocks built up until on june 1919 we find approximately gallons of gasoline in storage during the winter months the roads and climate are unfavorable for motoring and other uses of gasoline kerosene the refinery statistics disclose that more gallons of kerosene were exported during the first six months of 1919 than in a similar period of 1918 this is probably accounted for bythe by the release of tankers from war duty stocks of kerosene from june 30 1918 to june 30 1919 were reduced from gallons to gallons or a reduction of gallons the stocks of kerosene have been on a constant decline for the last year and a half and this in spite of the fact that in the first six months of 1919 production of kerosene increased gallons over the same period in 1918 kerosene is used largely for illuminating purposes and our greatest market is in the orient and in south american countries we thus find the output of both gasoline and kerosene increasing stocks of gasoline have slightly increased while stocks in kerosene have decreased it is to be expected that in the future we will an increased demand for gasoline which will take up any excess supply gas and fuel oil upon the signing of the armistice there was a remarkable decrease in the veti cIty on 01 tap of the allied fleets which has resulted in a markedly less demand for fuel oil this resulted in a flooding of the fuel oil market which is today temporarily easy the refinery statistics show the following figures for the first six months of 1919 as compared to the first six months of 1918 an increase in production from refineries of gallons exports decreased by approximately gallons domestic consumption increased only gallons shipments to insular possessions increased from 2000 to gallons the stock of fuel and gas oil at the refineries for june 30 1919 showed an increase over june 30 1918 of gallons it is probable that the present fuel oil surplus is temporary and that within the next two to five years fuel oil will be in great demand this is readily brought out by the fact that the navy is converting its coal burning ships to oil burners and if the plans of our contemplated merchant marine are successfully developed there will be a large increase in the annual consumption of fuel oil lubricating oil the lubricating oil output for the first six months of 1918 and for a similar period in 1919 is practically the same amounting to approximately gallons but it is surprising to note a decrease of gallons in the domestic consumption for the first halt half of this year the use of lubricating oils may be considered as a key to our industrial activity and possibly the decrease in demand was due to the closing down of many of the large plants and that during the first half of this year the nation was not entirely converted from a war to a peace basis 0 |