Salt Lake Telegram | 1921-05-29 | Page 19 | Oil Famine Stories Are Declared to be Untrue

1 4 41 THE THE I Oil FAMINE STORIES i 1 I ARE DECLARED TO TOBE BE UNTRUE r Western Refiners Refute Report of Shortage of Petroleum Products i ANSAS I CITY Mo l Ia May 28 At At a meeting here of tho Western Petroleum I Refiners' Refiners association th the following resolution res resolution res- res was adopted Whereas the general public through I the public press and periodicals and andI trade joum journals ils has been led to bell believe eve there is danger of a shortage of I leum products and the exhaustion of natures nature's crude supply within a given period and Whereas this discussion has caused I the manufacturers of internal combustion combustion combus combus- tion engines and users of fuel oil much concern deterring many prospective consumers from the adoption of oil as asa asa asa I a fuel and Whereas we believe this has proved a serious detriment to the Industry I now therefore be itI it Resolved That we the Western Vestern Petroleum Petroleum Petroleum Pe Pe- I Refiners' Refiners association in session session session ses ses- sion at Kansas Cit City Mo call the at atI attention attention at- at I of the oil consuming world to the fact that the exhaustion of ot crude i petroleum in fifteen to twenty-five twenty years has been constantly predicted by I alleged experts for the past thirty years and that notwithstanding we have Just emerged from the greatest war of all times making enormous Demands le De- mands upon th the petroleum Industry that the industry not only met every demand but today In spite of the marvelous mar mai- expansion of the automobile In Industry inI industry in- in I dus ry h holds in reserve storage larger quantities of gasoline kerosene and I fuel oil th than m at any other time in its history I Further we would call calI to the at attention attention attention at- at of the oil consuming world the fact that when the World war broke out there was only one large new oil pool in America namely Cushing Gushing and that drilling operations in all other parts and districts had practically been I suspended When the staggering de demands demands demands de- de mands of tine e e war came the industry approached its task with the same determination determination determination de de- de- de termination to deliver which had made it possible in all past emergencies to meet requirements with the result that toda today we wo have the great fields of Kansas Kansas Kan Kan- sas southern Oklahoma northern and western Texas Louisiana Arkansas Kentucky and California producing more oil of a higher grade and with I greater potential future possibilities than experts in the past ever dreamed I of Had predictions in the past come true our petroleum resources would today be completely exhausted Instead we call attention to our reserve refined supply our immense producing fields the unlimited possibilities of prospective prospective prospective tive fields and the increased quantity and quality coincident with deeper drilling We Ve call can attention to the fact that pools embracing an area of ten miles square are few most pools are small that oil pools are constantly being re revived revived revived re- re by deeper drilling drilling- or by extensions extensions extensions exten exten- and that new territory is constantly constantly constantly con con- being proved which previously had been condemned The possibility of new fields yet to be discovered Is unlimited We Ve do not share In the alarming predictions of so called experts and hereby publicly express our confidence iri in in the ability of the petroleum industry of the supply the needs of the world indefinitely Yet we anticipate there may be periods of temporary shortage even as there has been in the past but these have only marked the way for expansion These periods have havet t always been of short duration while operators exploited for new fields ana and we confidently believe in view of present present present pres pres- I ent prospective prospect future fields it will prove so in the future Therefore the Western Vestern Petroleum Refiners' Refiners association places Itself on record as saying to the oil consuming world that it need have no more fear of a supply of oil in the the future than it has of a supply of coal coat