| Show oil outlook improved the outlook tor for american petro eurn industry Is considerably Imp improved royed by a consideration ot of the tha petroleum situation in the world at large says the NO november index of 0 tho the new york trust company north american both produces and consumes approximately 87 per cent of the worlds oil and all but a traction fraction of this production and consumption belongs to the united states industrial du countries in other regions may soon be expected to be calling tor for greater supplies of petroleum as world commerce and industry progress in central european countries tor for example consumption ot of gasoline at present is only a traction fraction of one gallon per capita is as compared with annual per capita consumption of 0 70 gallons in united states the consumption ot of gasoline in Iii these and other areas may be expected to rise sharply in near future in order to assure an oil supply tor for american consumers it is essential that the american oil industry maintain its supremacy in oil production for it would be a calamity mildeed indeed it if we ever found ourselves dependent on foreign producers |
