OCR Text |
Show Oil, DEVELOPMENT IV t'MTEI) STATES ESSENTIAL. The need for a greater development develop-ment of the oil supply of the United States Is greatly intensified by the fact that rich oil fields abroad have recently fallen under control of Germany. Ger-many. While this advantage may be temporary, tem-porary, It forces the allies to depend mre largely upon the supply of the United States and Mexico, while l! gives to the central powers an adequate ade-quate supply, says the Mining Congress Con-gress Journal. Russia's production for the last few years has approximated 70.-000,000 70.-000,000 barrels. Last year the U. S. produced 68 per cent of the total world production of 516.000,000 barrels. Mexico's production in 1917 was estimated to be 60,000,-000 60,000,-000 barrels. The present high cost of labor and supplies, added to the very great difficulty in securing oil well casing:, has almost brought to a stanr" still the " development of new oil fields. Not only have the steel mills been called upon to manufacture manufac-ture materials directly connected with war purposes, but even where oil well casing has been available difficulty has been experienced In se-' se-' curing transportation for the oil well casing to the fields of operation. opera-tion. The uncertainty growing ou of the war excess profits tax law hap also had Its influence in preventing development work. Production Is not keeping pace with consumption, and as a result the reserve stocks of oil in the country coun-try are gradually diminishing. The uncertainty growing out of probable federal legislation affecting the title to the oil lands in the public lands states, has also had its influence ; preventing development work. While there is no immediate danger, there Is great need that every effort shall be made looking to the stimulation of development of new oil territory. |