Salt Lake Tribune | 1919-11-23 | Page 46 | Supply of Oil is Still Far below Demand

Supply o Oil Is Still Far Below Demand aTl HERE are no known com--l merdal substitutes for gasoline gaso-line or lubricating oils. The domestic domes-tic output of these does not meet the present consumption. Of the original available pretroleum supplies sup-plies underground we have consumed 40 per cent. ' ' These statements, made by Van H. Manning, Director of the bureau of mines, department of the interior, have been made to the public to emphasize the great need in the petroleum industry for extensive research. ' ' "It is true, ' ' says Manning, "that there are vast oil resources in foreign for-eign countries which can probably meet demands for the next ten years. Predictions beyond ,that period are not safe. Our efforts must be turned toward obtaining perfection in processes and mechanical equipment. equip-ment. In 1918 the value of the output of crude oil and refined products prod-ucts in the United States was $2,-500,000,000, $2,-500,000,000, and certainly the petroleum petrol-eum industry can afford to spend more than has been spent heretofore in research to discover new methods and perfect those now in use to make the recovery of oil and its utilization more efficient."