The Washington herald., 1919-08-20
OIL PLENTIFUL,
SAYS HOLLAND
Americas S Petroleum Re.
sources Likely to Last
For Centuries.

OF petroleum were taken from the
American oil fields last year. This
crude oil has been or is to be con-
Verted into many essential products,
as Tor instance from it was taken
enough to make 1t possible to manu-
facture and to market s4,O00,00O
barrels Of lubricating oil.
Already the people are beginning
to get good understanding Of the
relation of this industry to Ameri-
can progress and in fact to the in
dustrfes of the world. This new
understanding may be due in part
to the fact that American oil fur
nishes one OF the most important
or the influences and factors which
entered into the war work of the
United States and of our allies.
therefore now it is accepted as a
fact that among the five leading
American industries dependent upon
our natural resources, oil takes it's
proper place. These industries have
been referred to by Judge Gary.
by A. c. Bedford. by Henry Clews
and by others as, first, the iron and
steel industry, dependent upon
American ores, which are plentiful.
second. food. dependent upon Ameri-
can agriculture which can be great
ly expanded; third. cotton for which
already our friends across the sea
are making earnest appeals so that
they can as soon as possible re-
sumo their textile industry. Next
copper, for there must be great
reliance upon copper IL the work OF
reconstruction and upbuiIding is to
be expedited and we'll performed.
And then there is the oil industry.
Is Exhasstieu Probable.
The industry as a whole repre-
sents in dollars hundreds OF mil
lions every year. One of the Stand
ara OH companies has invested S75,-
100000 in developing and perfectins
Its export of petroleum and its va
rious products to the Far East. The
other day A. c. Bedford. who is
chairman Of the board of directors
of the Standard Oil Company of New
Jersey. said that one OF the reasons
why it was thought expedient to in
crease the capital stock by $780,
100000 is based upon the oppor-
tunity which now opens for a very
large export trade. Mr.. Bedford did
not so state but those who arc
familiar with the oil industry say
say that within a few years Ameri-.
can oil will find a very great mar
ket not only in England but also
upon the continent Of Europe Ths [
market was in part secured by the
energy and efforts OF Walter Clark
Teagle. who is now president OF
the standard Oil Company of New
Jersey. for he was intensely occu-
pied for several years in establish
I ing markets for American oil upon
! the continent of Europe and foresaw
as the result OF those things which
/ he did obtain , large increase OF
these markets. which would surely
have been secured had not the Eu-
| ropesn war begun.
There. however. does arise at times
the question OF the pornlanence OF
this natural resource. Nobody doubts
that our iron ores are sufficient II
furnish raw material for hundreds OF
years, even though the United States
forEes ahead relatively as rapidly as
it has in the past in the manufacture
of steel and iron. or course with
proper cultivation and adequate fertil-
ization the vast reaches OF the cotton
| fields of the South may be relied upon
| every year to yield large hsrvests and
that is also true OF the land through
out the country from which food
| products are obtained. The resources
| cannot be exhausted. While IL is pos
sible that the enormous demand for
/ copper NAV make ii necessary for the
! copper indastry to sfek new fields, as
it has already done in South America.
nevertheless there IL no great danger
of the exhaustion of copper at least
for many years. Nor is there any
danger that our bituminous coal de-
T--757Is can he exhausted. But not
even the most expert Of the men of
science who have with patience in
vestigated the American soil. studied
geological formations and taken heed
Of evidences of the existence of oil
are able to assert that the time IS
far distant when our natural re-
sources in oil will be exhausted.
Searching fer Oil.
Nevertheless the men of science and
the prospectors are now searching for
new oil fields as diligently and as
| sldllfuily as in times past search was
mad. for deposits Of The precious met
/ sls-gold and silver. A few days ago
! information came to New York that
the experts who have been journey
I
have reason to believe that enormous
/ deposits of oil are to be found beneath
! the surface there, II that be true it
! is certain that transportation will be
provided whereby the oil can be
brought to the market and to the re-
| fineries.
So also there are some reasons for
presuming that the day is not dis
tant when oil, perhaps in large
amounts. will be discovered in Alaska.
and. II it is. no matter how remote
these oil fields may be from a. sea-
/ port, transportation will certainly he
provided. The unexpected revelation
of vast pools or wells of Oil in the
/ southwest tends 10 Sustify the belief
that these are not confined to a mar
row limit. but extend throughout the
Southwest While the leaders in this
great national industry confess that
they cannot say with certainty that
our resources will be exhausted within
few years, nevertheless. they appear
not to be greatly alarmed. having con-
| fdence in the ability of the prospec-
! tors and in sudden and unexpected
discoveries of new fields to reveal new
oil resources. Therefore the exhaus-
ton OF the oil fields may be more than
made good by the exploiting OF new
ones so that this one of the five pre-
eminent industries will continue for
many years to maintain its relation
to our industrial life.
HOLLAND.