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Show y. S. TURNS TO MEXIGOfBH OIL Immense Resources of South Shown By Report of Federal Fed-eral Department WASHINGTON. Sept. 13 Mexico promises to become the oil re, i voir i th wr rn haniaphfre. the .ie. Ipnrtment of commerce dei inre.i sun-Idav sun-Idav In a review of the petroleum In-'dustry In-'dustry in that country. With inrre.is-iel inrre.is-iel consumption In lift United States I l-1 1 to exhaust producing fields hero 'within twenty or twentv-flve e:irs, IfeXlCOi 'be statement and. "offers the 'most encouragement to the American oil Industry, both for present production produc-tion arul geogrn phlen I situation." Kxhatistlon of fort per cent of the producing fields of the I'nlted States, 'tbe department's review stated, has caused Mexico to take second place In oil production although only about twelve per ent of the potential ca- ptvClty Of Mexican wells Is being pro-Idured. pro-Idured. exports from Mexico during the f rsi six months of 1920 totalled o.-Inoti.OOO o.-Inoti.OOO ha-rels. an Increase of 72 per l . ni over 1919. At this rate total ex-. ex-. ports for the year are expected to reach 135,000.000 barrels. The review states that of the 231,- .'.0 sniare miles of Mexl. an territory j believed to contain oil deposits, not 'ir.ore than Joo m4uare miles are being exploited. Curtailment .of production' is ascribed to lack of transportation 'and storage facilities and to the un-J titled political conditions. ' Of the $350,000,000 estimated to be, Invested In the Mexican oil industry, ..lout 70 per cent represents Amerl-1 ran capital, the review says. About 27 1 cent is Krltish and Dutch capital land 3 per cent Mexican and other in-1 It crests. Twenty-seven companies are gd ilng oil In Mexico, seventeen of hl h are American owned, five Rpon-; lah Mexican, three Dutch and two British The United States received 7 1 per cent of the oil exported during the I first alx months of 1920. |