Show use of oils mounting Moun tins nationally SALT LAKE CITY UTAH to supply the fast mounting demand for crude ol 01 oil 1 and its ita products atonal a total of thirty five thousand new oil wells veils will be grilled in n 1948 in ili tile the nation a checkup among 0 oil 11 drilling coji contractors tractors re these theme startling figures are shown in ili a survay just brecel received ved by james D aloyce of salt lake city vice president of the wa satch batch refining company ana anaa chairman of tile tho oil industry Indu n utah state committee latest statistics from official sources say it la Is expected drilling activity in 1948 will bo be tire greatest sinco the end of tho the world war wall A program for new wells would necessitate drilling around feet of hole bole it to la estimated equivalent to miling drilling nearly 2 and 4 ath times time completely through ough the earth from pole to pole statisticians said i tile the united states now Is using via as much olf oil as did the entire world about 10 years ago E experts x eat estimate imato between and now new wells will be necessary essaiy to give the nation its needed additional dit ional reserves during 1948 since 1941 drilling operations havo have lagged and reserves reserve haye shaye not been kept up to standard so the industry now must intensify drilling programs to put reserves back where these belong lack of steel and other materials and rapidly rising production costs coats have caused most of the slackened drilling since 1941 the recent price advanced advance in crude oil prices will stimulate drillers drillars dr illers to new activity the survey said the survey pointed out that american wells so far have supplied the peoples of the earth with 30 billion barrels of oll oil yet proven reserves amount io 21 billion barrels and geologists estimate we can find in this country country at least another 50 billion barrels the nations crudo crude oil brodu production in the week ended january 10 according to official figures showed allowed an average of barrels dally daily or above the previous keeli aweeka a new all time high I 1 peak wartime war ti time trio year of 1945 was 1711 prewar pre war avera average golwas was in 1941 another survey received by chairman moyle aa answering serIng the question why Is the industry at some points not hot abble to take care of present deni demand and shows that in the first eight months of 1947 installation of bf new oll oil furnaces ran half a million units ahead of last year diesel oil pure purchases blasci by railroads in 1947 increased 48 42 per cent over in 19 1947 47 there were 35 pet pel cent more trucks and 35 percent per cent more autos on oil the road than in almost per cent more mechanized equipment was used on farms in 1947 than in 1941 air travel has increased and as a result more re aviation fuel has baan used industrial growth of the nation has been powered mostly by oil now the dominant source of energy in america am e rea higher income of 0 individuals have resulted in more demand tor for petroleum cirod products acts demands of the army ond navy havo have increased tremendously since 1941 and ana now are several times greater than prewar pro pre war an executive officer office of qia army navy Petro petroleum loum board earlier WN this month testified at a government hr hearing hrinsin IngIn in washington that military require requirements for or the current fiscal year which last august were estimated at barrels have been increased to barrels I 1 his budget message just delivered to congress president truman requested appropriations totaling for the purchase of liquid fuel and aubri cants for the air force army and navy with the former to get or nearly 16 million dollars more than it was allowed this year this Is for the fiscal year from july jilly 1 1948 to june 30 1949 |