The Birmingham age-herald., 1920-03-24
OUTLOOK FOR
 OIL INDUSTRY
Rx HOLLAND

New York, March 7" 2"--(SpeclaLJ-- Lewis H. Lapham, who has been prom inently identified with the Texas Com pany since it's organization, and who was in fact associated as one of the organizers of the original oil under taking in Texas out of which has grown the company which now is one of the greatest in the world in the oil industry, spoke this morning of the industry as 1t now is and of some of the features of the outlook.
 The fact that the Texas Company has recently issued and promptly marketed S35, ,000, 900 of per cenet three-year gold notes of itself points to the stren- ucus efforts which are now under way fer obtaining a supply of oil sufficient as far as may be to meet the enormous demand which now exists and which will continue. Walter c. Teagle, pres ident of the Standard Oil Company of New Jersey, said day or two ago that in all probability at least $50, ,000,0 900 barrels of petroleum must be secured by 1925 if this country is to meet the demand for the various products of petroleum. In this year 1920 possibly as much as 400, 100000 barrels will be needed.
 MT. Lapham was asked to explain this wonderfully increased demand for oil He spoke of all the internal conh- bustion engines. Rapid as has been the expansion of the use of this inter- nal combustion engine by automobiles and since the war began by aircraft, nevertheless 1t is probable that the utilization of this engine for purposes to whic hit has until recently, not been applied will be very greatly increased. It will be increased partly by the use of it for power producing purposes. I'm nprfertp1 methods whereby adequate power in compara- lively small units can be secured by the use of this engine. The farmers are going to use 1t. And probably to so great an extent by and by that It may go far towards supplanting ani- nal power.
 GREAT MOTORS AND TRACTORS Then again, there is to be a very great development of the large motor trucks and of farm tractors. Charles S. Mellen, until recently president of the New Haven Railroad company, said a day or two ago that he Is now con- vinced that motor truck service for a distance of 100 miles or a little more, radiating from the large centers Will be greatly increased and very much freight will be transported in this way. MT. Mellen need not have spoken in the future tense, for already motor trucks running between Boston and interior New Engalnd cities and New York and also from Philadelphia and Baltimore and the large cities of New Jersey and New York are in daily and nightly use 1 transporting great deal of freight | But Mir. Mellen's view that the em' ployment of motor trucks is to b' | greatly increased means doubtless thi' may affect in some degree the trans portation of freight by railroad com panies.
 Mir. Lapham had the increased utili l zation of the motor truck in mind whel he spoke of the development of tn Internal combustion engine as one O the reasons why there Is to be greatl, enlarged demand for petroleum prod ucts
 !, WHERE IS IT ALL TO COME FRON
 Not least of the question to whic the very able managers of the oil in dustries of the United States are nov giving heed to this. Where is all tn ] petroleum to come from-if there be demand within five years for as muc as 650, 000. .000 barrels year? That , & question none of the ablest In the O. , industry can answer. They do not 1T
 to answer Mir I4apham himself whe referring to the demand for petroleui I as that Is sure to be In five years, sait
 Where is all the oil to come from. w | .la not know. nobody can tell" Tn | is one of the features of the oil indus try which causes it to be set apal ? from all the other essential industrie 8 It is possible to obtain a fairly acct rate report of the amount Of coal al l thracite and bituminous which lies ns
 heath the surface waiting for u : miners So the leaders in the copp' industry, and in the iron idustry. al able to obtain good estimates or Il
 amount of copper that remains to mined or the amount of iron ore.
 But there is no way of learnif : what our oil resources are and WI l continue to be. A great well may spo' 5000 barrels oil day, and yet with
 a few weeks go dry. The geologis
 1 may say that here and there are abun
 l ant evidences obtain from geologic
 formation of the existence of oil D
 l heath the surface in certain regior
 but they cannot say how much or no
 long the oil would last
 Therefore the oil industry is fro
 one point of view established upon u
 certainty. Yet sthis does not dissua
 capital from making investment in | industry and 1t tends to stimulate |
 vestigation not only in the Unit