Show 1 C crisis rl sis could speed utah R colorado oil shale industry it if the increasingly threatening international situation should take on an adverse turn resulting in to loss is of middle east oil to tile the free world a 43 billion barrel commercial oil reserve in eastern utah western colorados oil shale could be drawn on within a relatively short time lacking such a crisis the shale oil lands probably will re in main ain uncle sams ace in the hole for or several more years these are some of the con elisions elusions elu clu drawn by several of the worlds oil shale experts in a special shale oil issue march of the rocky mountain oil reporter an ou oil in austry magazine published at denver while the fledging oil shale industry seems in a quiet time e today many im par tant behind the scenes de have been taking place recently the experts reveal changes in mining methods have slashed costs drus ly reducing drilling labor coss from one half to two thirds and dropping the cost ot of drill rod and bits from 2 8 cents per toot foot to 05 03 cent per foot other determinations by the U S bureau of mines show a change in the use of explosives cuts the cost from about 7 cents to about 2 25 5 cents per ton of shale mined retorting ana and reining oil from shalet I 1 now presents no problems time colsum ing wor arit jr in clearing up land titles Is nearing despite some continuing litt liti gation and final work in per mining claims large oil companies have made enormous increases in their holdings of choice oil shale land in eastern utah and western colorado since 1049 1949 when the oil report TS ers map showed major compa companies banies riles owned about acres the new map map shows holdings of more than acres including relatively recent acquisitions of gulf oil huep rier vict ahll oil general petroleum texas national petroleum and dow chemical co the largest owners of shale oil reserves arp chown in a new compilation with the new map of these the corn com banies holding more than a billion barrels of shale oil in fineable mine able reserves of oil shale yielding more inore than 25 gal ga ions of oil per ton of shale are listed in order as follows standard oil co california union oil co of california U S naval reserve getty oil tidewater oil ico to general petroleum Petrol eurn mobil dow chemical company savage oil shale development co ifie I 1 he texas company cities service oil co wasatch Wasat cli development co in the he 23 largest holdings amounting to a total of acres of choice oil shale lands the total fineable mine able reserve is set at more than 45 billion barrels of oil for comparison about 2 9 3 billion barrels of petroleum was the total U S production last year american oil production admittedly 1 is held field down by the abundance of cheap foreign oil in a crisis end for a few years tile nations oil wells probably could produce as much as 3 9 5 billion barrels of oil per year but not at anything like prices the llie experts agree that hat the higher the price of natural petroleum the sooner shale oil will look to the oil companies like a better bet then than petroleum as a tile the source of their raw material their conclusion it Is no longer a question as to whether there will be a big aliade at a I 1 oil industry in III the united unite states it Is a matter 0 when |