Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-01-05
FUEL SUPPLY
BIG QUESTION
Shortage Brings Matter to
Fore in Capital Of
Austria.

VIENNA, Jan. 5.-In view of the gem
eral shortage of coal mere, the question
OF the production Of other fuel has again
become extremely important Special at
tention in financial circles is being paid
to oil and petroleum which eastern Eu
rope used to produce in abundance.
The expectation and the equal and Ju
dicious distribution of the material, how
ever, is rendered particularly difficult to-
day by the exceptionally grave political
situation of the producing countries as
well as by the devastations of which TIA.
territory was the theater. This refers
above all to the oil wells of Galicia and
Roumania, while the oil occurrences Of
Baku, on the Caspian sea, and Kerkuk-
Chanikin still deserve the greatest atten
ton in the Far East. The extraordinary
abundance of the latters products was
one Of the principal reasons why the
British naval craft was reconst, ted for
oil heating.
While the petroleum and oil production
OF Asia is more or less in British hands
already, there ought to be a good Oppor-
tunity for the investment of American
capital In Galicia and Roumania. Ameri-
can business interests, however, must be
aware Of the fact that one Of the most
urgent and indispensable tasks in regard
in that part of the world will be their
reconstruction, aiming at bringing about
the pre-war standard of production.
While the output of mineral oil in Ga
ucia-which centered in Drohobycz and
the neighboring territOries-was very
great in normal times, a considerable
number OF wells have been ehoked and
devastated during the course of the nu-
merous battles which took place there
between the Russians and the Austrians
even after the armistice and right now
this territory is the subject of dispute
between the Poles and the Ukrainians
the wells are partly in British and part
~ in American and Austrian hands
AS to the Roumanian oil wells, a con-
siderable part of these is not now in
working order, which is chiefly due to
the military measures taken by the allies
at the time of the German advance in
Roumania. Although Gen. Falkenhayn's
experts devoted particular attention 10
the reconstruction of the Gestructed wells
their work was crowned with limited
success, and 1t will take long period Of
systematic work to raise the Rouman 49,
oil fields again to their pre-war inn
portance. The RoumaniAn government
is trying hard to achieve results in this
respect AID e reported to have lately con
cluded a eSOvention with the Austrian
government whereby they are to supply
the Austrians with petroleum and other
material of primary necessity in ex-
change for industrial products
There is an exceptional opportunity
at the present time for American cap
ital to take an increased active interest
in the oil production of eastern Europe;
an activity Of this kind on the part OF
the United States would be very mucl&
Facilitated . ~, st.
yorable rates of exchange for American
coinage in those countries; and, secondI
by the marked readiness Of the peoples
and governments concerned 10 co operate
with America and to profit of her effilV
cient business organization.