The sun., 1919-05-04
By JUDsoN c. WELLIvER.

by SoDoSAN ~ VvSA<kh En-
IF little old New York takes a peep
at It's raging curb market, tu-
1 multuously buying and selling
oil shares, and imagines It secs the
"o,l BOOM" it's wrong. The market
struggle for the Aladdinlike profits of
the development Is one OF the wonders
OF speculative and investment history,
but II Is only q phase.
The oil boom Is everywhere: 1t is
setting up derricks all the way from
British Columbia to the United States
o, Colombia, from Java to Turkey,
from the oldest fields in Pennsylvania
to the newest in Mexico. II is creating
refneries, laying down pipe lines with
teverish haste, turning out tank ships
for its transport requirements, maxi
ing millionaires and multi-millionaires
out OF the lucky investors, and OF
course absorbing the savings OF a lot
OF the less fortunate or far sighted.
Boring Holes in England.
The governments Of the world and
the most powerful corporations and
captalistic groups are competing with
shoestring financiers and hopeful pros
pectors everywhere. They are boring
holes into England till the tight little
STAND is getting to look like a colander.
and finding some oil, too. For many
years there has been n modest pro-
duction Of oil from the Scottish shales !;
not enough to interest a second rate
cusher In Oklahoma or the Ranger
Held OF Texas. but enough to help keep
the war going when transportation
was scarce and prices high.
Some day. the biologists say, II the
world doesn't develop a substitute for
petroleum, II will have to fall back
on those shales and squeeze its oil
out Of them. There is good geological
authority for tho statement that IL
al the petroleum could be taken out
o. the oil bearing shales that underlie
The State OF Indiana alone there would
De enough to fill Lake Huron But
The day for that phase of development
long way in the future. Indiana
would be worse unused up than the
landscapes OF Picardy before it was
accomplished: Lake Huron might be
MADE Of petroleum, but Indiana would
De Skinned, wrecked, turned inside out
and the great American desert would
gave been brought back to us.
However. Indiana needn't worry for
quite some time yet. The worlds oil
supplies. get-at-able In the old fash
Toned way, continue to expand. and
ue gloomy forecasts OF a few years
ago that pretty soon the motor cars
would have to be scrapped or run
with alcohol find their answer In the
development OF new fields in every
part Of the world, with the North
american continent comfortably keep
Ing tho lead.
Iaere IS ono thing about the petro
I'm boom that cannot DO lost to sight
ne possibility Of overproduction fer
4"y considerable period is hardly Inn
eslhao!e. OIL burning navies and mer-
chant marines, millions of added motor
cars every season, aviation, the in
creased use OF the internal combustion
~ Gil llLdUIloT OF lnuuStTldl OPP
e'auons, oil burning locomotives, the
.equ!rements OF lubricants that come
from petroleum-alI these demands are
.''ta'n to grow Just about as fast as
we supply Of oil will permit them tC
s'o"' The limit OF use will be set by
Wv rate OF production. In all the
ram OF natures stored up resources
snat single product has so many use
III loErns and constituents as petrol
yum! Possibly coal. But how vain
eH' frivolous appears a Klondike mug
get or a kohinoor. when actual utility
IN point compared to a gallon OF
nleh grade petroleum or a scuttle oil
coal!
co the market boom in oils is at last
merely a reflection OF the worlds in
t IN and dependence on oil. The
imam Of Oh is almost a super
-" ,'Ha' one, wherein governments
rah' policies designed 10 affect pro-
SS1I"on and distribution everywhere
-'' no great state dares feel its future
cor" unless It has assured supplies
-. inc tue! and motor force of the fu.
e War has been called a contest
Oe'"esn petroleum resources. and q