The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1886-11-25
PETROLEUM.
Tho Russian OH Field Competing with the
American Product.

Tho Russian oil FIeld-C Competing with the
American Product.
Mr York Tins,
From the grea! petroleum district on
the Caspian Sea comes the news that a
we'll owned by Tagief & Co. is disChArs.
Ing no less than 2.75O,OOO gallons Of oil
daily. Tho fountain is 294 feet high.
'Chio seems incredible. But 1t is true that
In 1888 the great Droolha we'll in tho aame
district discharged for 4SdSys q daily Az
erage Of $50 600 gallons, aud In ll5 dsys
yielded more than 55,00O.0O0 gallons. BY
far the greater part Of the oil from the
TsgieG well will be lost Ia the sands that
lie around the ori6ce. Even il 1t could be
saved and marketed the price received
for It would scarcely pay for storage, for 1t
Ia said that a ton, or $50 gallona, OF crude
oil can DO cold OF Baku for no greater Bum
than q London importer pays for ono gal
Ion OF refined American oil, and that tens
Of millionB Of gallons Of refined oil can DO
bought there Tor o penny q gallon.
Some OF our OonHula report that Russian
oil ia driving American oil out Of certain
European markets. Undoubtedly II is
true that American exporters are under.
sold to-day in certain European ports, and
that Russian reiners and exporters are
gradually extending their trade but i Is
also true that our export trade Is otfAll.
ing OF. The quantity Of illuminating oil
exported from tho United States was in.
creased from 2O4 100000 gallons in 1876 TO
SCI, 100000 gallons In 1880. In the follow
ing year the amount fell 10 332, 0OO, 900,
but In 1882 1t rose 10 ass, 0.000. In 1883
and 1854 the exports were 10000, 600 ald
3l6, 100000 respectfully, but in 1885, In
spite Of the growing importance o.
tho BRku field, We sold 45S, 100000
gallons in the Old World, aud 10 1886
The sales we're 400, 900, 900. The exports OF
Crued oil also advanced from 25, 10000
gallons In 1870 10 SO,0O0,0OO In 1856.
The outlook for the current fiscal year is
by no means %uniavorable, II we may judge
from the official reports for the first quar-
ter, which show that the exports have
been nearly 1874. 900, 900 gallonsr or at the
rate Of 644,0O0,0O D for the year. The i'm.
portanCe OF our export trade in oil may
not DO fully realized by everybody. Pc;
tIoloum Is the fourth OF our exports as re-:
CARDS value, being surpassed only by cot.
ion, wheat, and meata. The value OF our
foreign trade in oil last year was more
than S60,0O0,00O.
We cannot expect, however, that Eu.
rope and Asia will continue to buy our
oil after the enormous resources OF Ilaku
shall have been developed and utilized.
The BAku producers HAYS suffered In
competition by reason Of Inferior quality
oitheir product and Of difficulties In the
way Of cheap transportation. The ad.
valces they have recently, made In Euro
peRn markets indiclte that their methods
Of manufacture have been improved, and
II ID known that In two or three years
they will be able 10 transport their oil at
prices that will discourage the American
producer and shipper. II the Baku field
were on tho Black Sea Our petroleum
industry would have suffered q severe
blow long ago. Now the BAku oil Ia sent
by water 10 Tho head OF the Caspian aud
III Tho Vnlga to the interior Of Russia, II
ID carried RCross the CluCaBuB In tank
cara 10 BAtoum, whence II 10 shipped 10
European ports In tank Ateamefs. AL
great change In the trade will appear
when the proposed pipe line from BARuto
BAtoum bliAll DO completed. The ptojgC rot
Ia supported by he Russian Government,
AT lapt AcCouh D four great European
iltms, including he Rothtchild's, Of Paris
who have recently made large lnveBl.
mNnts In oil property at BAku aud BatOum
bidding for the contract TO build
this llnB, which will cost $4,000 900 and
be 900 miles long. The pipB Ia 10 be
large enOuRht 10 carry l0O,0OO,0OO gallons q
yCnr, and the tariff will DO about l cont q
II Ia predicted that the compile.
ion Of tho line will cause.-the export tFado
u tho Baku trade Ia ba Increased tCniOld.
II ft2hed oil can DO bought at BAku for
NO cents q gallon, carried 10 the Black
lOr one cent q gallon, and thence bhip.