The Barre daily times. (Barre, Vt.) 1897-1959, 1917-09-19
CRUDE OIL SUPPLY
is SUFFICIENT
A. c. Bedford, President of Standard Oil
Co. of New Jersey So Attested at
War Convention of the American
Chamber of Commerce.

Atlantic City, n. j., Sept, le.-There I
not the slightest danger of deficiency
in the supply either of crude oil or it'
products, Kerosene and gasoline, for tn,
use of the United States or its allies il
the war, in the opinion of A. c. Bedford
of New York, president of the STANDARD
Oil Company of New Jersey. Mr.. Bed
ford expressed that conviction in an ad.
dress he delivered here to-day before the
war convention of the American Cham
ber of Commerce.
America" said Mr.. Bedford, sis pro.
ducng and can produce all that will be
needed for these purposes. But he add
ed that ''our government should receive
the first call upon all petroleum pro-
duced, either for itself or as it may des-
ignate for the use of our allies in their
conduct of the war"
Before reaching this conclusion, Mr.,
Bedford declared that the vital problem
confronting the petroleum industry to-
day was to increase the production of
crude oil, to induce producers of crude
oil to make greater and greater effort to-
ward obtaining large product.
"The price," he said, SHOULD be suffi-
GENTLY attractive to induce more and
more people to drill wells, thus ensuring
a steady supply and offering always the
opportunity of finding a great pool which
will make the whole situation suddenly
easy"
While the oil refining capacity of the
country, Mr. Bedford stated, is greater
than the present demand, the United
= ,,,,s, IL all ot ba tal
of over 330,000,000 barrels year, while
the annual production in this country
to 3l2,000000 barrels. There
was in storage in the United States on
July last, however, l64 ,590,942 barrels |
of petroleum.
"It will thus appear" added Mr.. Bed |
ford, that, with the stocks above ground |
and given the present rate of production
and consumption, the supply is sufficient
to ensure us having enough oil for at |
east the next five years, provided the
is fairly maintained. So,
while the occasion is not one for alarm,
t is one for taking intelligent measures
oward adequate production of what we
leed. Such is the situation confronting
he petroleum committee appointed by
he council of national defense to CO.
perate with the government in meeting
is oil requirements"
This committee he said, "has recog-
lied that the government requirements
hould have absolute precedence and that
o consideration of costs, convenience or
elfish interests should interfere with our
living the government everything it
sked of us"
To emphasize his suggestion that the
reduction of crude oil be increased Mr..
edford said that this country will re- [
uire next year at least 550oo000 bar. {
lis of gasoline "That amount" he de- {
ared, simply cannot be obtained from G
le quantity of crude petroleum now be- :
e produced.
'They tell us the war is to be won in
lie air. Our country is said to be build {
g large numbers of airplanes. Our al
es are building flying machines as fast
they know how. Vital to the very
,istence of these airpanes is the highest F
'ade of gasoline which can be produced
he prospect is that the present year
i'll call for 100000 barrels of gasoline
r the use of our allies in Europe"
Asserting that it would be great mis-
rtune to adopt any policy that would v
mper or handicap the automobile in O.
stry as a manufacturing enterprise or \
e use of automobiles now in possession w
the public, Mr.. Bedford declared "there II
ould be a campaign of education of Il
tomobile users showing them how to II
tain the utmost usefulness from their n
RS with a minimum consumption of NJ
soline" ~