The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-08-11

ages viii be veXatiOus, but not long
continued.
"You VIII recall that In May or
this y"ar ~ n time whom Inc con
sumption Of dompHtic crude was
exceeding the domestic production
at tho rate of 100000 barrels per
year. causing general alarm through
out tho Industry ana on the part of
tho public. stated
Tho OH business has ever met
every. public ana private demand,
and We are confident that It viii
continue TO do 30 through. % Con-
sorvation ~ petroleum and itH pro-
duciS 90 Increased production.
90 Increased importations OF
crude petroleum.. 80 Increased
efficiency In the construction ~ au-
tumobil" engines, a great change iu
this respect rs probable 90 In
creased efficiency IN refining. J. g..
gstting moro gasoline and other val
u1bl" products out ~ cnch barrel ~
crude"
since Nav thcro has been an IN
creased production Of petroleum.
and the latest official figures issued
by tho United states geological sur
vcy covering tho month Of June.
show total domestic production Of
37219,00o barrels Of petroleum, or
AZ the annual rate Of 45iOO0, 900
barrels. Last year we produced only
3177l9,O0O barrels Of oil. This in
crease shows how intimate II tho re-
lntiouship between increased prices
for crude and increased production.
Furthermore, the importntionH
from Mexico have increased Last
year Mexico shipped US 52.74G.567
barrels Of oil Since tho first OF
January Mexico has sent us 80. gO5, -
2ON barrels. ana our imports from
McNlCo for the last month for which
statistics are available June) were
S,ilS,0gl barrels. or at the rate OF
nearly 100,0O0,OOO barrels per an
mum, which is at an annual rate
nearly double that Of 1919.
Efficiency In tho refining Of oil
In becoming greater every day, and
moro and moro rcfiners aro putting
In better processes Furthermore.
tho automotive engineers OF the
country are responding heartily to
the conditions, and am confident
that the next year or two will see n
public demand for u lighter and
lower powered car than any now
Produced car whicn will conserve
gasoline. tires and monoy--after all
II IL the public domand which will
he controlling. No ono would be
Justified In makinA n low powered
car 10 meet n theoretical demand.
Lastly. so far as the Immediate
situation " concerned. tho latest
government figures indicate that
production in tho month Of June
actually exceeded consumption This
has not happened since August l.
1919. save In one other month tSep-
tember. 1870, when production was
slightly greater than consumption
7 fear that production will not CON
tinue 60 exceed consumption durins
the balance Of the year, because the
peak load OF tho oil industry Is
rapidly approaching But the
| change. evdn II temporary. ls not
without Significance. II proves that
advancing market prices for crude
| oil stimulate production.
THE fundamentals OF tho situa-
tIon, however. are not changed. and
show no signs OF changing; and for
more complete understanding OF
the entire situation, ] refer your
members TO the letter which 7 re-
| Gently wrote TO tho members Of the
society OF nutomotive engineers and
60 the memorandum accompanying
that letter
"It this announcement IL taken as
an announcement to the reckless
and wasteful use Of gasoline, 81 will
have missed it's mark. such n use Is
| to he condemned, and would bring
serious consequences in some sec
tons OF the country
VERY truly yours
'R. L. WEIGH,
| "Generai Secretary