OCR Text |
Show Oil in 1930 An authoritative estimate, taking tak-ing into consideration all available data, forecasts that oil production in 1930 will total aoout 1,444,000,-000 1,444,000,-000 barrels 14,000,000 less than in 1929. This is or special interest, as during previous years production produc-tion has usually made tremendous gains. In the United Stages, according to the forecast, normalization of production pro-duction has been partially attained. This year we will produce about 69,000,000 less than we produced last year in spite of much larger available potential production. This is of great benefit to the domestic industry and the nation as a whole as it is believed that consumption of oil will be lower this year than in 1929. |