Show I Oil The Oil The Nuisance It is lS interesting to note that sud- sud sudden sudden su den demand for what was hitherto considered a Crude nuisance Crude oil oil- led to the founding of the AmerIcan petroleum industry Many years later a similar demand for another nuisance was gasoline mcc gasoline was as responsible for the industry's amazing c expansion and development In 1895 crude oil was regarded as asa asa a valueless substance encountered by t salt saIt drillers Then Tien the world ne need for a satisfactory illuminant kero illuminant found sene-found found a use for it Y ars later the discovery seo and application of elee- elee to lighting seem seemed to forecast the sudden de det death t h of or the oil industry Then the automobile came into ex- ex existence anda and a i demand was w I created c foi for gasoline which i to the industry had baen been a waste found in distilling crude oil The war accelerated the demand for petroleum The birth of the machine age brought with It t a need for lu lubricants lu- lu lubrIcants lubricants of If all kinds The an all plane came into being as an important con consumer consumer sumer As a result the oil industry al- al almost almost most overnight found that its ties were ere entirely inadequate New Nev Newfields Newfields fields were discovered new refiner refiner- refinerIes refineries ies built and old ones enlarged trans trans- transportatIon transportation facilities extended More Mor efficient processes were ere developed eloped and market outlets increased No other industry has ever been called upon to make so great a capital outlay within so short a time or to so en- en enlarge enlarge larg large its scope This cataclysmic progress was as re- re responsIble responsible re for the the industry's present problem mainly problem mainly that of overproductIon tion Once it was called upon to per per- perform perform form a necessary public service in m pro duang more imore oil Now Jt is gIVIng givin every effort to achieving another and equally important public servIce service- service that of adjusting supply to demand and our invaluable conserving petroleum petro petro- petroleum petroleum leum resources |