Show I F Favorable a e for Leasing Bill By Ira ITa C. C Tichenor Tichenor- i IE indications are that the senate and house conferees on the i T THE I o oil l and coal land leasing bill will reach an agreement soon oon after after jh the reassembling of congress following the holiday recess T The e encouraging report has been received from front Wash Washington that previous to the holiday adjournment the senate conferees had accepted nine out Q o of ten of the house amendments The rh principal pal points on which no agreement had been reached relate to the them maximum n royalty and to the division among the several states in which la dr e ted by the measure are located It is stated that all but three or In Jn the controversy have been adjusted four ou f the more Important provisions nn and th t In Inthe the main mal the provisions agreed to although tending toward conservatism do not Injure the measure from the standpoint of the dev development of the West There Th There re can be no doubt that the final passage of th the bill bitt will be followed by more extended development operations in several states including Utah thus thU further Increasing Americas America's supremacy y in the pr production of petroleum The The estimated production of barrels of ot petroleum in the United Stat States s during the year rear Just end ended d amounts to two thirds of the worlds world's output t and the figures not only emphasize the great hold the oil Industry of this country has on the worlds world's trade but accounts for the prosperous condition of the big producing and refining companies of America It I 1 Is stated that the United States has prod produced ced 57 per per cent of the worlds world's output of ot about seven billion barrels of petroleum since 1859 and now with I the the Mexican fields developed largely by Amerl American an capital capita It is is supplying th the bu bulk k of of i the worlds world's oil requirements Undoubtedly Undoubtedly the oil industry has created the majority of Americas America's twenty thousand millionaires and It is confidently expected that it be for the creation of thousands more |