The evening herald. (Klamath Falls, Or.) 1906-1942, 1920-11-10

scnts itself today, the supply Of Cal
ifornia crude oil Is faced with u
daily shortage OF $4,000 barrels
aud the cracking process is csti-
mated by wcll informed mon in tho
industry 10 involve an additional |
draft on stock OF perhaps $4,000
barrels per day by the end OF 1911
provided that the rates OF produc-
tion and consumption continue as
they were In the is months cpded
August 81. 1890, The sum OF these
actual and potential drafts is at the
rate OF $4,000 barrels per day"
And II seems reasonable" says
| the chamber In plea for united
action OF all interests, Ito plan forl
the future stability and expansion
OF the industrial and agricultural
interests OF California and tho Pa
clfic coast In so far as thcy may be
affected BY the fuel oil supply"
The Facts
Hero Is summary OF the facts
disclosed by the chambers survey
Field stocks OF crude oil In Cal
ifornia fell from 57.oOO,OO0 barrels
on January l, 1915. to cS.IOO. 900
barrels on August 81, 1890. u de-
Cline Of so per cent IN something
short OF tive years.
"Siucc January /, 1919, Callfor-
MIA field stocks declined by 9.6OS.-
600 barrels. equivalent to nearly so
per cent. but the moro recent rate
Of stock depletion IL stlll more sig
nlficant. Since September /. 1919,
or during the twelve months ending
August 81, 1890, field stocks in Cal
ifornia declined from 33,IO0,O00 to-
23,400.0OO barrels, an equivalent
of more than 80 per cent. This In
dicates very clearly that since Janu-
AIRY Z. 1919. n period OF rapid field
stocks depletion has come within
the past 10 months. There was
steady depletion OF stocks within
each OF these ~ months with no
intervals OF recovery or building up
"A comparison OF national pro-
duction with California production
show a marked difference in ton
dency. Daily national production
increased from an average OF 9lS.-
600 barrels in 1917 to l.lS6.OOO|
In the first seven months OF 1920
"a gain OF nearly 80 per cent
Daily California production in
creased from 257.OO0 In 1917 to
275.0OO during the first seven
months OF 1920, an equivalent OF
but per cent. II California pro-
duction Is excluded from the nation.
al figures the comparison Is obyi-
ously still mere unfayorable TO Cal
ifornia. and shows a national in
crease OF 40 per cent against Cal.
| ifornia's 3 per cent. Since 1915,
the daily national rate OF produc-
ton, excluding California. Increased
nearly 22 per cent. while the Cali
fornia rate remained stationary dur
ing the period January-July, 1920.
Refinery stocks of crude oil.
gasoline. kerosene. gas and fuel oil.
reduced TO terms OF t2-gallon bar
rels. amounted to 100000 on jan
uary /. 1919: 7.55s,00O on January
4, 1920 and 7.ss2,000 barrels on
June 80. 1920. Thus refinery stocks
on the latter date, as compared wi b
January !. 1919. had increased .yl
so3.000 barrels and In eomparii IN
with the beginning OF this year had
gained $4,000 barrels. These in
creases are gratifying as evidence
OF the increaSed capacity OF refin-
cries to take care OF current needs.
hu. ara nnf 90 r,aNn. Iu,,nr,.ua. a..
their effect upon the disparity be-
tween production and consumption
OF California oil. and such minor
Increases cannot b. considered as
significant accumulation offsettlng
the depletion In field stocks OF
crude oil.
Even II allowance Is made for
gains In refinery stocks the rate OF
total stock depletion or OF coisump-
tion In excess OF production was &C.,
900 barrels per day during hnuary-
June. 1920, as compared with 5000 |
barrels per day during the calendar
year 1919.
With a total OF 23,4O0. 900 bar
rels OF field stocks remaining on Aug |
ust 81, 1920. and assumed refinery |
stocks OF 100000 barrels as OF |
that date, II Is clear that an actual
shortage OF oil resources In Callfor-
MIA Is not far distant II recent rates
OF production and consumption re-
main constant.
"ln 1917, the petroleum commit
tee of the California state council OF
defense estimated that 1000. 900
barrels OF oil which are reported as
stocks are required for operation OF