Show GAS AND ND OIL our greatest energy resource N JL 1 gas and oil in the united states hav have achieved a record of service that is outstanding in the world data of american petroleum institute shows that with only 12 1270 of the worlds potential producing lands this nation today produces about two thirds of the world worlds gas and oil today these two resources supply o of the nations energy and play a basic role in its defense and in maintaining its high stafi standard dard of living the development of gas and oil resources is the of the work of thousands of companies and individuals over a period of years geologists geophysicists and other technicians throughout the nation constantly gather and study data to find new fields in 1953 exploratory i wells were drilled at an average cost of per well more than a billion dollars to find new supplies but of these were dry holes a total loss I 1 OFF I 1 gas must be found before it can be produced otherwise it is a commodity like coal oil lumber cotton and MEN 71 L i AV wheat if the consumer is to have an adequate supply over the years for his demands he must pay a price in the field that will justify this great search and these vast expenditures budeau of labor statistics show that between 1945 and june 1954 the cost of food increased 70 the cost of clothing 37 the cost of rent 0 and the cost of all items during this same period however gaa increased only 12 on this record the regulation of the price of gas in the field by the federal power commission is not in the interest of the consumer but will inevitably impair the capacity of the industry to find find and produce the supplier supplies necessary to meet the consumers demands EL A PASO xa NATURAL 6 aas A S 4 COMPANY il C A AL A L |