Every evening, Wilmington daily commercial., 1919-02-01
"Struck Oil" Again
BY Frederic j. Haskin.

real oil boom, and what is more, a
large unexpected addition to the depleted
national oil supply, have recently de-
veloped in Texas Experts Of the Geo
logical Survey here have confirmed the
Importance of the new oil belt.
The price of land in this central Texan
region has shot up from few dollars an
acre TO rates that rival business sections
Of New York City. Excited prospectors
are digging wells, and more wells. Texas
has become the center OF interest for
every investor that ever played with oil
and succeeded in getting his fingers
greasy.
Development Of the central Tcxas oil
fields comes Just at tirne when oil is
scarce and more in demand than ever
before. The national oil barrel is being
Grained more rapidly than fresh oil is
poured into it. In 1918 the United States
produced over 335 ,0o0,UOo barrels Of
petroleum. valued at over five hundred
million dollars. At the same time, 3d.
OOO, 900 more barrels were needed, and 10
supply the deficit We had to get 81 ,OO,O 900
from Mexico and draw on our storage OF
10000, 900 barrels for the remaining
81 ,W0, 900
WHAT WAR DEMANDED.
War demands absorbed millions &
barrels of oil in the form of lubricants
and fuel for battIeships, trucks and ma
chinery. One representative regiment
overseas carried lO8 motorcycles, II
trucks, and 100 tractors. All Of our heavy
guns arc drawn on motor trucks.
War commandeered the bulk of the
petroleum supply for itself, and the ma
ton economical But now that war re-
strictions arc removed, affairs OF peace
will use up all the oil we can produce, and
in all probability will eat more rapidly
than last year into the diminishing st0r-
age supply This is the prospect, taking
into account the newly exploited wells 0t
central Texas, and barring the discovery
of any new giant gtIshers of oil
Farmers who have been saving up
until the war ended to buy tractors. and
every American citizen who has been
waiting for the return Of peace IN order to
acquire an automobile Is prospective
heavy oil consumer And there are many
OF these prospective consumers TO DC
added 10 the present ranks ri steady
users Of gasoline and other forms Of pc
troleiIu. There is the building merchant
marine which must he FURNISHED with OIL
for fuel. and NIL the other enterprise of
peace which will be pushed forward rap
idly since the restraint Of war demands u
removed
JUST LIKE A DRAMA.
The discovery Of oil in new region Il
always dramatic There arc always stu
pendous fortunes made and lost, and there
is ALWAYS in evidence some iuckless
prophet who knew the oil was there but
could not got il out The stories of on
are IA many and as romantic as the tales
of the gold fields There arc in the Texas
belt laborers, immigrants and financiers
who have sunk their fortunes IN OIL and
lost and won alternately IN bigger
more vital gamble than Monte Carlo
ever offered
The gulf coast lands have until the
past three years, been the only Oh fields
in Texas The first discovery Ia central
Texas came accidentally Three years
ago, the Texas Pacific Coal Company
was drilling 10 locate further coal de-
posts, when gas was noticed coming
from some OF the shallow holes dug by the
workmen Further exploration located
oil. The interest Of the company was
aroused. and coal deposits we're forgotten
while the company plunged INTO the ab-
sorbing business OF looking for blg wells.
Other prospectors followed them, be-
lievlng that all the ell was not IN one re-
stricted area But the difficulties Of find-
ing the desired steady flow of oil were 80
many that the land was looked upon by
some as a hoodoo. Still, wildcat projects
continued, the prospectors digging at
random.