The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1891-03-11
THE OIL SITUATION.
The Dullnsss and Its CauSss -DiseOurngipE
outlook.

EuN bullnNNl AAu Nk9 NsAAAS9
outlook.
Pitts5urOh Commercial 6ar.hs.
: The oil situation is as much diffsren
from what It was year ago as 1t coul
possibly be. Then all was activity, en-
ergy and push. ThehuStler was abroad
Men enough to do the work laid GU
could not be had for love nor money
Drillers who had scattered all over thl
West, working wherever there was pros
pecting for oil, gas, water, &C., hockeC
back to the oil country, attracted by the
rumors Of the high wages paid TO compe
tent men. The tool, pipe, machinery
and lumbermen were ell busy and doinE
q prosperous business. Teamsters made
money, though at the expense OF theil
abused horses-abused by the horrible
roads. Rig.builders could not be had
fast enough. Not a man oonversant
with any detail OF the operations needed
TO be idle an hour.
How different 1t Is now. The oil well
supply men Of all classes complain Of
dull times in tEeir lines, Very few are
buying either for immediate use or fu-
ture delivery. Drillers and tool dress
ers are Obliged TO hunt for work when
they want It, as does also the rig build.
ers. Very few producers are beginning
or even contemplating new operations.
With an appearance Of lassitude If not
Indifference they are simply lying idle,
or else merely renovating their old
wells. the product OF which is slowly
but surely diminishing day after day.
There are two causes for this dizziness.
One Is the low price OF oil, which pro-
ducers say does not justify them in
risking much in any but gilt edge terri
tory. Another is, as one tersely puts 1t,
''the stuff's not in sight" There are
but two spots in Pennsylvania that pre-.
sent temptations TO the operator-Wild-
wood and McCurdy. They are both
pre-empted, of course, and the only busy
operations in the State are carried on by
the few who control them. When these
localities pass their zenith there is no
place to which the active oil hunter Can
turn without danger Of mourning loss in
stead Of finding wealth.
From present Indications the report
for March will show az great fall be-
low February as the one for that month
was below January, and one prominent
producer said the other day that even
April would show as great a decline
from the March report. ALI this points,
II 1t points to anything, 10 very dull
spring. But compare the great fields
that were opened and opening year
ago with what are in sight now, and it
will be seen that II any such activity as
marked last spring and summers bust.
ness is to mark that of the correspond
ing season this year, the wildcatter will
have to getin his work pretty soon.
Bot it would be strange II 1t should
nst soon pay to drill in small territory.
me figures given out by the National
Transit show the average daily runs
(production) for this month are down 10
6B l1S barrels, and the shipments (con-
snmption) are G0,830 barrels. These
show an accumulation Of stocks, but
when the spring and summer export
and domestic trades begin to open
something must be done or the stocks
viii be depleted at a far greater rate
than they were last season. West Vir-
ginia may contain oceans Of oil, but it is
not an alluring field under present cir
cumstances, and even il It were the
Standard has its grip on the best part
OF 1t.