Show OIL INDUSTRY ANSWERS ANSWER SHORTAGE SCARE 1 apor or twenty carsno have ha a been told thit that our petroleum peti oleum reset v must t th soon be exhausted says the e new york times who does not t remember the gloomy prediction of the notional national conservation commission appointed two decades ago it was es estimated there were ivere eight bli billion lloy barrels ox of oil in the ground in 1008 in 1922 the united states geological survey estimated nine billion barrels in the nic meantime antime the oil industry develops greater supplies than ever before each year marks the discovery ov of a more efficient method ot ol prospecting for petroleum and for bringing it to the surface suit nce we detect oil av means of artificial eith quake we drive drive wells miles deep whereas colonel 1 n I depth ol of on only iv 69 feet in 1859 by more scientific refining fining le methods we extract twice as much ga gasoline oline from a barrel of rude crude as we did only ten years ago and ilow now comes hy drog a on catalytic process s which may mav possibly iM sibly enable us to extract gallons of gasoline gr isoline by volume from of crude oil says the times scientific research search le has hn actually turned predicted shortage into hito overproduction |