The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1920-03-05
KENTUCKY OIL is
!" NOW $3.75 and
S6.lO
Two Advances Made Within
a Week, Putting Oil Above
Record Prices.

On Friday of last week the price
was advanced on Kentucky oil from
1926 to $3.50 On Tuesday of this week
another advance of 25 cents was made.
The Pennsylvania grade has had four
advances recently bringing it to $6.1O.
Appearances indicate that the crude
Oil market is fast reaching what might
be termed the run away stage. The
shortage of petroleum is inviting in
creasingly high prices 1t is hard to
see where there will be great increase
in crude supply for some months at
least, and under such circumstances
the price may soar to much higher
levels. Not few-refineries are feeling
the crude shortage and the Standard
Oil Company of New Jersey has laid
off 500 men at one of its plants be-
cause OF, this. There will probably be
an increase of imports from Mexico
and this may alleviate the situation
here, it is said.
Looking to March 16.
Independent refiners, it was report
ed, were still offering bonuses above
the posted prices, but very little oil
was being sold. Producers, 1t was the
prevailing opinion, were waiting for
still higher prices, which they expect
ed to develop March 16, when the Seep
company's plan to cut off supplies from
the independent refiners will become
effective.
: Gasoline Hopping Also.
There is much food for thought, for
in conjunction with the crude advances
gasoline prices are hopping merrily
along. Advances of a cent a gallon
are becoming frequent The question
may well be asked as to how this will
affect the motor industry. The rapid |
output of cars is all very well, but it |
may be hard to find purchasers if the
fuel supply to run them is going to be
cut down and made prohibitive in
price.
That the crude shortage is far from
being one engendered by imagination |
is told in the effort of the government |
TO obtain fuel supplies for ships. 1t |
develops that the companies are not |
in a position to supply the demands |
and the government may eventually |
decide to take its tax tolls on oil pro-
duction in the recently opened fields |
in oil rather than in money. This |
would perhaps answer the question as
far as the government is concerned,
but it affords little room for satisfac-
ton TO the average consumer.
Shortage of Stocks.
Lima, Ohio.-The best statisticians of |
the petroleum industry are convinced |
that we are rapidly nearing a shortage |
Of supplies in the United States. Firm
ing of prices at the wells in the Ohio
Valley is conclusive evidence that more
oil must be produced of this grade
AT the same time the announcement
by Standard purchasing agencies that
they viii no longer sell crude oil to
refineries, proves that the /
supply of this oil is only a matter of a
few years, and that in reduced guam
titles If the same action of refusing
to sell oil to Independent refineries I
should be followed by the Standard.
Texas and Sinclair Companies in the
mid continent many Independent re-
fineries would be forced to GO out of
business.
Important Deal. *
Pittsburg.-The most important sale /
Of Pennsylvania crude oil since prices
began jumping few weeks ago de-
veloped when the Manufacturers Light
and Heat company sold its entire pro-
iuction to the Waverly Oil Works Co. /
Of Pittsburg, and the Chesboro Manu-
featuring Company of New York, for
S6.45 barrel. an advance of so cents
. barrel over the posted prices.
i