The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-10-14
n'L ? ICE NEXT
TO Be SETTLED
Sixte @lliion barrels Needed by
Areritai aud ENGLAND for War
'urpnss,s--Proiucers Expect
Government IN Act

vyashiuFton Oct 1S-Price hxfng
81 I'll - oyl products looms nearer
than ever WIN the prices of steel,
eorper and coal fXed by government
al decree. big OH producers are await
ine thar turn Two factors stand
nut. az giving them cause for worry.
= demand FOR oil greater than the
world has ever known
4 price OF 81 per barrel reached
since 1918. when forty cents bought
n@rrej OF crude oil
Government departrn ents have been
worki7g on the oil problem for weeks
Thete eTorts we reaoubIed this
eseex .zvsfas tire British announcement
hat the British navy must have 3so.-
oo0 tons per month of crude oil
This means a yearly consumption Of
ling Of the task the council OF national
defens. faces
Hero is ia bile showing the United
states nav, needs. based on present
estimates:
Tor forty destroyers. f1o.ooe tons
monthly.
Far s4n submarine chasers, $500
tcns monthly
rcr 10000 aeroplanes, 1900 tors
MONTHLY.
Far - GOO iervies and automobile.
p@aoo tors month";.
Fo- f1le Amhulances, 1000 tons
rnnnthlv
Total monthly requirements as
900 tons
This means roughly. $4,000. 600
barrels which added 10 the British re-
nnirersents total $4,000. GOO barrels
almost nine times the tota, crude oil
export of the country last year
This sixty million barrels does not
comprise the whole Of the oil pro-
blenn. however France and italy also
must be supplied. because neither has
sufYicient product OF her own.
II is known that Germany, feeling
herself in sontroi OF the oil situation
is turning her attention to oil tankers
70 the disregard of food and NUM-
tions vessels Germany hurt the al
Hes when she took the Ronmanian
feids, and added another severe blow
whe- she cut of thA biss Russian
supply
German uhma rines are active In
the Mediterranean. making England's
task of carrying oil from the Persian
an far eastern fields extremely haz-
ardous German agents are known to
he hampering Mexican oil operations
by means OF r w. w. plots.
Mexico can solve the problem. gov
ernment experts declare. because her
exports this year vii reach about So
zoe 900 barrels but A. e. Bedford.
head OF the Standard Oil of New Jer-
sey and chairman OF the petroleum
advisory commission OF the Council Of
National Defense. does not like the
Mexican idea Anone other reasons
he he's advanced against II Is the
shipping shortage. He has advocated
increasing American production trem-
endously. and shutting down on pri-
vate consumption.
Once the production and consurnp.
ton problem Is adjusted the price
difficulty comes up. Just as the Coun-
Gil OF National Defense, through Mr.
Bedford's committee has worked on
the one phase, So has the Federal
Trade commission worked on the
other Hearings have been held and
investigation is In progress with
view to arranging a price that will
give oil producers what thev deserve
and also conserve the interests of the
government
IT thu war needs tsa-nat- increase
as they surely will. however, the gov
eminent vii have to pay $4,000. 900.
for crude oil to supply the navy this
year. That il at 50 per barrel At
the 1915 price. forty cents the years
cost would be only $l3.2o0.00o. Steps
are to be taken TO correct the dispar-
itys
Mr.. Bedford has said the rise from
fprty .centssto - II only a natural ii,
cla1se He attributes il in part to-
hiwAer prices for steel used by the oil
msn, and in pArr 20 higher prices Tor
kbos.