The Volcano lubricator. (Volcano, W. Va.) 1871-1879, 1873-08-19
The Oil Situation.


inc crude petroleum., admittedly re-
suits from excessive ovcr.prod"ctlon
of the article. There seem to be but
two sources Of relief from the state OF
affairs now existing among us, VIZ: 4
reduction of the production to about
the limit warranted by the demand tor
consumption, or an increase OF the
consumption to such an extent as to
cause a demand for all the oil now Pro-
duccd.
Relief from either source would Just
now be very acceptable to the bulk ct
those who are toi.iny in the production
Of this article, which has become one
OF the staples OF commerce wherever
il has been introduced, and its cheap
ness and merits practically made
known. Relief, however, through the
second source named, that's, as con-
sequence Of an increase OF conSunp'
ton, would be more welcome, as prom
isire to be more permanent ard offer
ing a larger field for the operations OF
The proyer6ia!iy enter?ri>ins,Go ahead
people Of the oil regions.
| venture 70 presume that few re
marks touching this latter source OF
escape from our difficulties, coming
from one whose business it has been
since the commencement Of the trade,
to watch attcntivcly the growth OF the
demand for our staple, may not be un-
Interesting 20 your readers.
First, let us consider the present
supply of the crude article, and arrive
if possible at about the number OF bar
rels daily produced in excess OF the
average daily consumption. BY the
report Of the PeaH,G Reporter, the
production of Pennsylvania in June
averaged 26,45o barrels rs gall. per
bbl.) per day; reduce this to 10 gallon
barrels and we have an average daily
production Of $500 barrels. Later
data as TO the production Of Pc0nsyl-
rania are r OF accessible, but the writer
has information OF an increase of the
production. daily, by at least 5000 bar
rels. Add for probable errors in max
ing up returns, and for production out
side of Pennsylvania, 1000 barrels,
and the production at this moment is
certainly $4,000 barrels per day
These iigurcS, considered by them
selves, are alarming compared with
any that heretofore occupied the pro-
duction side in the problem of supply
and demand Of petroleum; but if we
take a careful survey Of the zgh0lc
field, we will find that oikcr factors en-.
ter into the probler? ana lead TO more
favorable results than we would at first
anticipate.
The question Of consumption occu-
pies a broad field, including, as it does,
all quarters Of the globe, and regard
for your space forbids the detailed eE-
animation, which would be interesting
and profitable. Generally, however.
the subject may be briefly treated un
two heads, "Home" and "Foreign."
The consumption Of refined petro-
leum in the United States, especially
since the abolition Of the revenue tax,
in 1868, is, for the want OF data, diff
cult to arrive at with certainty. Cal
culaticns, However, based upon the
most reliable information, placed it,
for the year 1872, at 6o,ooo,ooo gallons,
and this may be relied upon as within
me mark.
The FOREIGN consumption can best
be estimated from the amount export
ea 70 foreign countries. Very full and
accurate tables showing the exports Of
petroleum are published in the v. Z.
Commercial ard S4if3:n: List, from
which we find that the exports from
Jan. to Aug. I, were as follows:
1879. iS7!
To Europe ............. I!o.oCp,cOo oS.i 5000
To Asia and Australia. oOo ooo S,7N4 600
To ). Amer, McN.co,Nc $4,000 - 90
: IN $4,000 IS. 10000
An increase of 20 cocoon gallons.
As tie total exports tor the year
49, were about I4S,ooo,ooo gallons,
The same rate of increase, kept up TO
the end Of the present rcar, Will make
the exports for sS15,in round numbers,
c36.ooo,ooo gallons.
The increase to Europe alone is, i'll
round numbers, 100000 gallons, or
70 per cent. Should this rate Of in
o.,