The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1916-01-07

1T is a plain question OF supply and
demand, nothing more. The said. The
United States produces about S. per
cent of the WORLDS petroleum, or 800, =
900, 900 barrels a year OF forty-two gal
Ions to the barrel. The average gaso-
line content is about 10 per cent, as ex-
tracted by old processes.
1.-THE gasolene content varies greatly.
California produces about lOO.OO0,OOO bar
rels Of petroleum a year; one-half OF 1t
has no gasolene at all; the other half,
about per cent.
''On the other hand the famous 'cush-
ing pool produced at the climax of its
history about 100000 barrels a day. or
over 1O0.OO0.OOO a year. with a content, of
30 per cent gasolene. This was the great
est field ever developed, and the richest
In gasolene.
There are three chief factors respon-
sible for the sudden increase in the
price of gasolene; all obvious and capa-
BILE of approximate measurement.
First, the Gushing pools production
has in n very brief time fallen from
about 500, 900 to 100000 barrels a day.
That lops off about 100000 barrels of
the best Gasolenclproducing oil.
Second, the exports of gasolene have
increased from about 1OO.OOO.OOO gallons
to about 500, 100000 gallons year. Our
annual exports are now actually great
or than tho domestic consumption was
only a few years ago.
Third, the immensely increased con-
sumption. Let me illustrate this.
so recently as 1910 there were $50,
900 automobiles In the country. Now
there are 2,250,000.
Automobiles are being added at the
rate of 1000 a day. II their average life
Is four years, 1t means that there Is a
cumulative increase in the demand FOR
ga solene to keep them running. equal
to the addition OF 5000 new ones daily
Every new automobile gets its tank
filled when 1t begins its career; at an
average of only ten gallons to the car
the new ones alone require 10000 gar,
Ions OF new consumption every day. and
It never stops.
tration of the lmmehfGty Of the power
represented bY thoBD gasolene con-
gasolehe of the country represents an
aggregate of 1000 900 horsepower. ina
Is two and one-half times the entire
steam power. OF the CONTRADICTIONS
tives, stationary engines and all.
"In addition to the automobiles, there
arc 700 600 Internal combustion engines
in use on the farms OF the country
There are also 100000 motor boats.
"FInaily. there are 100000 more
farms waiting to become users o.
Easolene for power; and the posi-
biiities of the automobile market mus
he judged by the fact that 1t Is now
absorbing million new cars a veal
and shows no disposition to Stacker
the demand.
Just one more feature I'm this con
nection. The price of gasolene ha!
about doubled in few months. I
doesn't check consumption. The people
buy il as readily as before. Personal
| w, considering the immense economic
Importance OF this power look upoI
the great consumption in. pleasure We
hicles as waste. But no matter: thu
people will not be denied their Inquiries
| they buy and use Just as freely at ?
as they did at ~ cents.
TT isn't necessary TO suggest wha
must happen in such conditions a
these. The price goes M simply be
cause there Is demand that will TAX
the whole output at the price fixed"
Or. RittmRa was asked what he con