Show DISASTER TO OIL INDUSTRY the american pert oleum industry must look in the future to foreign countries for its raw material and cannot close its eyes to a portent ot of I 1 obstruction that looms in its wiy way due to the attitude of 0 foreign 9 governments a v ern ments president walter C tea gle of the standard oil company of i new jersey told the american petroleum institute here today 11 certain governments their realization of the importance of petrol urn um buich quickened ened bythe by the war are not only es saying to enter oil business thenis themselves elve but also directly to engross the sources of supply and reserve the development of such sources to their own citizens companies and capital mr coagle said the speaker classed these efforts as tending to the establishment of a system which we believe unjust injurious and unwise lie ile mentioned england france japan and mexico in connection with his presentation of the situation essentially mr teagle said the american industry has to fitce face the problem of production during the present year lie he estimated tile the united states will consume barrels of crude oil produce within the nation and import barrels addition additional nal from mexico figures matter little these figures matter little but the tendency is all important mr air said it emphasizes the relatively smaller part our home production is going to play lit in the future our british friends in endeavoring to explain the position their government has taken since the armistice tice have agreed that as the united states is now supplying 70 per cent of the worlds current production we should be well content with things as they are this la Is an en en fallacious view Is it reasonable to ask that americans go heedlessly on to the quick exhaustion ot of their own supply and then retire from the oil business the american petroleum industry cannot ac c capt such a conclusion it must look to the development of petroleum oil outside t the united states matter of world politics what we are now obliged io to consider is the tact fact that because of tle the policy of government control and resti atlon the industry has beon injected into international politics whereas occasional revelations during the past year compel us to I 1 ba lieve the rule of 0 open conven ams ts openly arrived at luis has fallen diio a state of deplorable neglect R russia hussla mr teagle said had gore goiri goi ri wholeheartedly into the oil all bess and fields which produced barrels under private management in 1915 produced 34 in 1319 1919 neither special privilege nor direct government management has given or will give the people of the world the lie production desired lie he added examples cited As examples of foreign governments deliberately placing obstacles lit in the iho way ot of those who would lile lice to assist in tile the development of supply mr teagle cited the san renio agreement pr proposing a division of mesopotamia and other near east territory between tho the british and the french and the tripartite agreement recently entered 1 into ie lel britain Brit aln F france rance and italy defining spheres in turkey which is g susceptible of diplomatic inquiry as to its true meaning you know thit persia is almost cia entirely limited to the develon development inen ork nork ot of an all english company ha continued that a dutch company enjoys almost complete monopoly in the dutch east indies that japan restricts development of 0 petroleum properties to her citizens while I 1 h es fience provide for complete nationalization afiza aliza tion of all mineral resources acute Pr problem bIeni the petroleum question constitutes one of the most acute factors it in the Alex mexican ican problem though a program has as yet fail ell eil of more than partial success pointing out that the united states state has never limited aliens in exploiting oil resources within its territory or reserved sul subsoil poll rights to privately ir owned land mr air teagle said il if might be forced as a matter of n ee self protection to consider the adoption of measures reciprocally to conserve its petroleum resources resource tor for ita own people and stop slop tho the supply of present day petroleum product Sto sito other nations it is to lie be hoped th atthe united states slates never will be forced to such steps be concluded we do donot not belleve believe it will be necessary the tnt world Is 18 too anxious for ra this it can obtain only if abr there b be e maintained everywhere a free and fair field to all with special govern I 1 mental favor to none |