OCR Text |
Show WE 3IUST HAVE OIL I'nlluro to Increase production of crude oil in tho United States has brought the nation face to face with a shortage of petroleum products. For ten jcars we have had a national nation-al policy which discouraged Increased Increas-ed oil production. The recent passage pas-sage of tho oil land loaning bill came as a tardy acknowledgement ot tho critical situation. In the fa co of tho dectoaslng supply sup-ply of fuel olio our domestic requirements require-ments aro doubling and trebling not to mention foiclgn trade which Is clamoring for our products. It wo nio going to have futuro supplies of gasoline and lubilcating oils there must bo an Incicascd production ot crudo oil. ' Whllo oil producers have managed to double their production In the last ten cars tho number of oil burning vehicles has Inceascd fifteen times, not to mention tho greatly Increased use ot fuel oil by tho merchant marine ma-rine and navy of our own country, ns well as other nations. Explaining tho roccnt' advance In the prico of gasollno on tho Pacific coast, K. It. KlngBbury of tho Standard Stan-dard Oil Company, pointed out thai duo to tho highest prlco on record In tho east, Pacific coast gasollno at tho old pi ice could bo shipped to New York and sold at a profit and the In-cieused In-cieused prlco was necessary to savo our supply and also to encourage Increased production of crudo oil another an-other nvanco to tho producers was neccssaiy. Mr. Kingsbury points out emphatically that tho advanco In IPiIco wnsjsololy to protect tho fuel oil and gasoline supply of this coast nnd to stimulnto tho pioductlon of ciuiln oil, Co in pa kmI with the Increaso In pi Ice of othoi commodities, gasoline nud oil supplies am today ouc ot tho cry cheapest pioducts which the public has to buy. Tho day Is past when tho question of price makes much difference. Tiom now on It Is a question of getting the oil nt any pilce and no man would ho safe ln piodlulng a pi Ice flvo yenis hence. |