Los Angeles herald., 1910-03-17
CALIFORNIA OIL
GROWS IN POWER
SIX BILLION BARRELS ARE UN-
DERGROUND
WILL TAKE 1926 YEARS TO END
SUPPLY
Demand Is Twenty-Five Times Great
er Than In 1897, and Market
for Petroleum Steadily
Advances

The statistical position of Califor
MAS petroleum Industries is advance
ing to a higher plane in both produc-
tion and the volume of stock sales.
based upon mining, refining and ship
ping petroleum products. 1t has been
determined by the United States geo
logical survey that the scientific in
vestigations of the California petrol
cum field warrant the belief that not
less than 5000, 900, 900 barrels exist there
in. At the present annual yield of
the California wells the quantity es-
timated as being underground is suf-
ficient to provide for 125 years produc-
tion.
The best informed scientific opinion
is that the California fields are con-
ditioned for very much greater pos
sibiities at low cost than is possible
for the Mid Continent or the Appal-
achian fields, and that the day is not
far away when California petroleum
will be that in largest request in the
ever-increasing markets of Asia.
The geological survey estimates the
amount of petroleum in the other fields
of the nation at 5000, 100000 barrels,
thus making the estimated amount
within California considerably in. ex-
cess of that in the d-Continent, APP
palachian and gulf fields. California
is running today 10,250,000 barrels of
petroleum a year ahead of it's next
in-rank producing field, This years
petroleum production in California
is estimated at 63,OOO,0OO barrels, which
at the ruling price at wells will total
SAL 100000
Increase Is Rapid
The production is twenty-five times
larger than it was in 1897, and the
"a 10 ah ra 1U
the markets increasing in greater pro-
portion than the production from all
of California wells. Conditions are
such that in three of the principal
fields the stocks on hand are not the
equivalent of one days yield of all
the fields of the state.
Japan is negotiating for a contract
TO run several years with California
producers for fuel oil for the navy
and for refined products for the sew
eral purposes. 1t is understood in fuel
oil the specifications from Japan call
for the shipment of 100000 barrels a
year.
The Southern Pacific railroad in To-
comotives and in shops Is consuming
10000 barrels of petroleum a day. and
the other roads and the industrial
plants of the territory tributary TO
California's petroleum fields consume
all that comes from several OF the
largest wells of the state.
The Atchison system is buying 5,0O0,-
900 barrels of petroleum year. Petrol
cum is displacing so much coal on the
Pacific coaost that the charters for
coal ships from Europe, Australia and
Japan are almost a thing of the past
It is impossible to get over the scien-
tifically and practically demonstrated
fact, set forth by the fuel board of
the navy and by all the scientific en-
gineers Of all the railroads and indus
trial plants OF the Pacific coast, that
ten pounds of California crude petrol
eGm burned for fuel gives as many
heat units as is pounds of the best
Welsh or Pocahontas steam coal. Be
cause of this high economy showing
the California petroleum industry is
conditioned for a steady advance in
values of sound petroleum mining and
refining shares.