The Washington herald., 1919-10-21
May PAY BACK
LOANS IN OIL
Experts Predict That U. S.
Soon Will Need British
Product.

1t may be that within a few years
GREAT Britain will begin payment on
account Of the war loans that coun-
Try made In the United States by
ceiling to us very large amounts OF
crude petroleum. One Of the experts
or Great Britain has recently ven
tured the prediction that by the year
1850 the United States will be buy-
Ing at least 500. 10000 barrels of oil
every year from British companies.
IL that prediction be accurate. then
every year We Shall be compelled 10
pay approximately 81. 900, 900 900 on ac-
count of imports of oil.
This situation Is partly due To the
fact that the United States has been
supplying for some years the mar
kets of the world with the products
obtained b. science from crude pc
troleum.
We have been developing new fields
especially in Texas and the heretofore
unsupported magnitude Of the Texas
oil pools and the almost unprecedent-
ed development OF these resources as
well as constant prospecting for new
resources have caused the impression
to prevail that no matter what. the
worlds demands may be our own nat
ural resources In crude petroleum will
be found sufficient to meet them for
many years.
What Mexico IL Sending Us.
Until recently the United States i'm
ported little or no crude petroleum,
Instead we exported enormous
amounts Of the various products OBJ
tained from crude petroleum But
some two years ago or shortly after
the United States entered into the
war. apprehensions were felt lest there
might come a change SO that instead
of being a heavy exporter OF petro-
leum and its products We would be
compelled to import large quantities
of petroleum.
These apprehensions> seem to have
been in part justified by authoritative
! reports which tell of our imports OF
crude oil from Mexico last year These
amounted in the aggregate to Ss. 900. 900
barrels. The presumption is strong
that the record made in 1919 will show
a much larger, import OF Mexican OIL
| The estimate made by a compe-
tent expert asserts that within the
next five years We shall be import
ing from Mexico and from Central
Anne erica and South America approx
imately 100000 barrels of crude
oil. While American capital is
heavily interested in the develop
ment OF Mexican oil. nevertheless
British companies are now in pos
session Of concessions for very large
oil development in Central and South
America.
A Great Offset.
II II be true that within ten year.
the United States is importing 500,
100000 barrels of oil almost all o.
which was sold to us by British
companies. then within a few year.
our oil imports will be sufficient,
large to enable Great Britain to pa,
practically the entire debt repre-
scented by the loans which the Unit
ed States government made to Grea
Britain while the war was in prog
ress.
DR.. z. @. Acheson, who is one O
the foremost men of science, ma,
discover the method by which alco
hol may be substituted for gasolin,
obtained from oil. II that can bt
done the conservation OF oil will b,
very great. Alcohol can be OBJ.
tained from almost anything. 1t 1.
q resource which cannot be exhaust.
ed. And there seems to be some
hope that science may at least dis.
cover methods by means of which
alcohol can be made the base where.
by gas can be obtained which will
be serviceable. as well as economi-
cal, when employed in internal com.
bustion engines. II this be done
there will follow a saving Of mil
lions of barrels OF oil which are
now utilized for securing gasoline
| HOLLAND.