The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1920-11-18

together FOR a discussion OF their
problems.
Speakers at group meetings and
general sessions emphasized the need
Of cooperation in conserving the pc
troleum supply OF the world and pre-
dlcted that an oil famine was i'm
pending unless great efficiency were
shown in production, refining and dis.
tributlon. Stress was laid on the ne
cessity for far-slghted policy in the
development OF new fields. The ac-
tivity of European nations, particu-
larly Great Britain and France, in
sur.ng for themselves a supply Of
petroleum, was mentioned as a pos
sible menace to the future supply
Of the United States.
The American Petroleum Industr,
must look In the future to foreign
countries for its raw material and
obstruction that looms in it's way"
due to the attitude of foreign gov
ornments, President Walter c. Tea
gle OF the Standard Oil Company Of
New Jersey told the American Pc
troleum Institute here.
Certain governments, their rea-
lization of the Importance of petro-
leum quickened by the war, are not
only essaying to enter the oil busi-
ness themselves, but also directly to
engross the sources of supply and re-
serve the development of such sources
TO their own citizens, companies and
capital" Mr.. Teagle said. The speaker
cassed these efforts as tending TO the
establishment of system which
we believe unjust, injurious and un-
wise"
He mentioned England, France, Ja-
pan and Mexico in connection with
the situation. Mr.. Teagle said even
tually that the American industry
has to face the problem Of produc-
ton. During the present year. he
estimated that the United States
would consume 445,O0OOO0 barrels OF
crude oil produced within the ma
ton. and import 120 barrels additional
additional from Mexico.
These figures showing the tenden-
cy is all important Mr.. Teagle said
"They emphasize the relatively small
part our home production is going
TO play in the future.
Our British friends in endeavoring
TO explain the position their govern
ment has taken since the armstice,
have argued that as the United States
Is now supplying seventy per cent OF
the worlds current production, we
should be we'll content with the con-
ditions as they are. 1t is an entirely
falacious view. 1t is reasonable TO
ask that Americans go heedlessly on to
the quick exhaustion OF their own
| supply and then retire from the oil
business? The American petroleum in
dustry cannot accept such conclusion
II must look to the development OF
petroleum outside the United States
what we are now obliged to con-
slider is the fact that by the policy
of government control and restriction
| the oil industry has been injected into
! iHterHdllOHdi pOHtltSt NhtiC' % w
casional revelations during the past
year compels us to believe the rule
OF open covenants openly arrived at
has fallen into a state OF deplorable
neglect"
Mr.. Teagle asserted that it was not
necessary for any nation to go int
oil production ON public account be
cause OF possible war requirements
since developed resources would bt
available to the country in possession
OF a territory wherever war developed
Such governmental activity, he said
would fail to obtain increased produe
tion.
Russia, Mr. Teagle said, had gon'
"whole-heartedly into the oil busi
ness"
THE petroleum question constitute!
one of the most acute factors II
the Mexican problem, though a con
fiscatory program has as yet faileC
Of more than partial success" Mr.
Teagle declared.
Pointing out that the United States
has never limited aliens in exploit
ing oil resources within its territor!
or reserved sub-soils in privatel!
owned land, Mr.. Teagle said i
might be forced as matter of ne
cessary self-protection, to conside
the adoption OF measures reciprocal!
to conserve its petroleum resources
for its own people" and stop tn
supply of present day petroleum pro
duets to other nations.
ut is to be hoped that the Unitet
States never will be forced to sucl
steps" he concluded. I'VE do no
believe it will be necessary. Th
world is too anxious for petroleum
This it can obtain only If there b,
maintained everywhere a free and fai