Show 7 f vI v. v 1 I I. 1 t 1 i b it 7 4 i r to i C 15 vi s V it of i I v GAS AND OIL OIL 1 i il b l' l f our greatest energy resource f rt 1 VV- VV j I f 1 h T I f l v 2 F 14 S' S ll r. r r I v 1 I 1 i 1 F f I r ii J m r. r l t j r d u g 1 f i f I 1 NATURAL N and gas and oil n in the United States have I achieved a record of service that is outstanding in the world Data of Am American rican Petroleum Institute shows that i t t with only 12 of the worlds world's potential producing lands r t j this nation today produces about two-thirds two of the worlds world's i 2 tt c 1 gas and oil Today these two resources supply of t basic role in its defense b nab nations nation's ons on's and t. t 1 H i. i o the energy play playa a I I 1 I and in maintaining its high standard of f living 1 The development of gas and oil resources is the result result re re- sult suIt of the work of thousands of companies and individuals individuals i over overa a period of years ears Geologists geophysicists and other technicians throughout the nation constantly gather 4 i i 1 and study data to find new new fields In 1953 exploratory exploratory ex ex- 11 1 M wells were drilled at an average cost ost of per well well more more than a billion dollars to dollars to find new I 1 I supplies but of these were dry hol holes s a total loss II Gas must be found before it can be produced otherwise other other- i ii wise it is a commodity like coal oil lumber cotton and wheat If the consumer is to have an adequate supply s' s over the years for his demands he must pay a price in inthe inthe inthe the field that will justify this great search and these vast is no expenditures 40 J Bureau of Labor Statistics show that between 1945 db and June 1954 the cost of food increased the cost hr r of clothing 37 the cost of rent and the cost of all nIl items During this same period however gas I increased only ly 12 I On this record the regulation of the price of gas in inthe iny y the field by the Federal Power C Commission is not in the Interest of the consumer but will inevitably impair the capacity of the industry to find and produce the supplies necessary to meet the consumers' consumers demands I EL ELDA PASO So NATURAL NAT GAS 6 A S COMPANY IV I |