Show 10 o Oil Not an Improbability By Ira C T. T Ct Tichenor H HE possibility or rather the probability of f crude oil s selling at t t tt t 10 io a barrel barr l is being eing discussed by various trade and financial o journals and jn jil literature being printed by leading brokerage louses 1 uses Much of the latest mark market JeU letter r of Charles Chants A. A Stoneham I to o. o Is s devoted ta to th the oil oU situation tl n. n After Alter showing that thai eV every ry oil field In InI Inthe I the ve- ve country Is falling failing considerably behind not only ony In the matter of at Requirements but In the amount ot of prod production cUon as compared with wIthY last ast year I tM letter s' s says YS If U one had predicted back In 1915 when Pennsylvania crude was selling at t to th a barrel barr l. l that a a 5 r p per b barrel trel price w wO b be 3 reached d. d he hb hello llo would ld have ha been regarded In the same ari 1 class a as the man who predicted a a. afew e few years yeats' ago that b by 1920 rii m cars cars' rs be In In use use- useIn Hi In the United d s1 States tes The he fact remains however that today Pennsylvania crude i is polling i t. t an advance of since the first of at the year and Th that ihM corresponding g Increases easeS have occurred In the price of at the he product from practically every I area in the country Indeed it i Is fr freely free lt p predicted now that In Ina a af f tV V p years yeats 10 O oil will be bo an accomplished fact tact I Discounting these thesa optimistic prophecies ft It does does n not t require the Vision Or o seer to realize t that exceedingly pros prosperous times are In store for the oil all D Justry The Tho steady advance In fn th the price of ot th the crude is bu but the 1 b beginning f the realization that tremendous efforts must b be put ut in i m motion U l' l to Be Increase It T III the supply It does not hot take a gt great at deal of analytical ability to make it apparent pp rent that the record of ot 1919 will be be- surpassed h In hi p point production od Uon tion nd flOi plow 1 5 s It require an overwhelming amount of logic to convince one that a. a as real eat at as was was' the gap between production and consumption last Jut year when when 1 barrels of crude oil were outputted against a consumption of at 41 b barrels it will be tie f further widened both bolh this y year ar and ana in the the years ts t ome Ten dollar oil is a 4 possibility a Os a. a per cent centri ri increase crease reu in Ihfe r ree ce e of crude In Pennsylvania since 1915 a per percent cent advance in Kansas d Oklahoma crude crud a a. p per r cent nt adv advance nce in Gulf Gul Coast prices prices these these 1 lUres figures Ig res Thom loom big with promise Under the circumstances therefore does doCS o U n 4 not nat appear that that the he activity the oil stocks has only begun I It Is natural to td exp expect t that the W Wyoming production wilt will materially rease especially as as' the result of the operation of ot the be new nev leasing easing law taw and 11 it h i Utah and nd several severd oth other r West Western rn states including Nevada Montana and andL andew L ew w Mexico will win be become ome good producers b but t th the fact tact th that t the older fields r 6 declining while the consumption of oil is increasing at an immense I raI it lt makes it t obvious that the new production regardless of its amount will t f not i prevent an oil famine |