The Savannah morning news., 1901-04-29
THE FUTURE or TEXAS OIL.

THE FUTURE or TEXAS OIL.
IT is being predicted with a great deal
of confidence that the oil field that has
been struck in Southeast Texas will prove
one of the greatest in the world. having
far greater capacity than the Pennsyl-
vania fields that have added so much 10
individual and national wealth, and play
ing such an important part in the devel-
opment of the keystone State What eff
feet will the Texas wells have upon the
oil trade? The question must remain un-
answered for a time. IL has not yet been
ascertained positively whether the Texas
oil can be refined for Illuminating pur-
poses, or whether it's chief use must be
as fuel. Investigations for the purpose
Of settling the question are being made.
and within a few weeks will probably be
known the extent of the commercial pos
sibilities of the new Oil. Should It be
found available for Illuminating purposes.
as well as others for which the STANDARD
Oil Company's products are used, It might
transpire that the oil market of the world
would have to be divided into three parts,
instead of two as at present. The world
is supplied now with petroleum by two
corporations, the Standard Oil of this
country and the Rothschild corporation
of Russia. The suggestion of a posi-
bic division of the territory into thirds
assumes of course, that the Standard Oil
Company will not succeed in securing con-
troll of the Texas fields. but that they
will be operated independently.
Meanwhile great faith in the future OF
Texas oil is being evidenced by both ma
tives and others Approximately ia oil
corporations have already been formed
and chartered in Texas for the purpose
of exploiting the wells. by development or
otherwise. These companies range in
100000, and aggregate possibly So. 900.
900. And there seems to be a plenty
OF money seeking investment in them. The
markets for shares and lands continue
active. A large amount of wealth, there
fore, has already been brought into the
comparison with that which will be
brought in during the next few years,
whether the highest hopes of the oil peo-
pie are realized or not
In case It turns out that the oil is not
good as an illuminant-that it is good for
such purpose is being stoutly maintained
it will still remain that it is an ex-
cellent fuel; and for fuel there is a gigan-
tic and growing demand. The South At
lantic and Gulf states alone burn 100000
tons of coal a year. it has been estimated.
Oil is said to be from 20 to so per cent.
cheaper than coal, and by means OF pipe
lines and tank steamers it can be trans
ported more economically than coal. The
lower cost Il is practically sure, would
be sufficient TO induce owners of mills,
locomotives, steamboats,, etc, to change
their furnaces from coal burners 10 oil
burners. In their present undeveioped
condition # Is claimed the Texas fields
can produce 100000 barrels OF oil year
Three 10 four barrels % oil equal one
Ton OF coal in heating capacity; thus there
Is az present an oil supply almost equal
30 the consumption OF coal In the South
BY piping he Oil from the wells TO the
coast relatively short distance. the
distribution 10 coastwEe ciues could be
made ln tank steamers. Proximity 10
tide-Vater would also be- 81 advantage
boz case che Texas on should enter into
competition iD ODE markets ~ che world
o. csu D. fsadl.y UNDERWOOD. Therefore.
fhaf ihe posaNl.ues ~ me ncN oil aia.
roYffg arr Frr3 great