New-York tribune., 1920-11-18
'Teagle Asserts
Europe Blocks
Oil Production
Standard President Tells
American Institute For
eign Nations Keep Depos-
its for Own Future Use
u. S. Supply Decreasing
Geological Official Says
American Resources May
Last Only Nine Years

WASHINGTON, Nov. 17..--The world
oil problem, particularly the situation
confronting America because of condi-
tions in Mexico, and Europe's search
for additional sources of supply, was
discussed in this city to-day at the
opening of the annual meeting of the
American Petroleum Institute.
". C. Teagle, president of the Stand
ard Oil Company of New Jersey, told
the institute that "many foreign gov
ernments are deliberately placing OBJ
stacles in the way of those who would
like to assist in the development OF
new sources of supply" He was fol-
lowed by Director George Otis Smith
of the United States Geological Sur
vey, who sounGed a new warning that
American sources were rapidly 'eng
exhausted
Richard Airey vice president of the
Roxana Petroleum Corporation. Brit
ish company. denied at the night ses-
sion that Great Britain was attempt
ing to monopolize the worlds oil sup
ply.
The Mexican Situation
The situation in Mexico was de-
scribed by Frederic R. Kellogg, coun-
sci for the Mexican Petroleum Corpo-
ration, who said American oil men had
gone into Mexico because "Mexico is
sued unmistakable invitations to all
the world to come and invest its money,
its brains and its labor in the oil in
dustry" This, he said entitled Amer-
can producers to the protection Of their
government.
Mr. Teagle said oil lands in the
United States "have been thrown open
to the world, with aliens as free to &C
He spoke of the recent Mesopotam ian
and Turkish agreements between Allied
powers, and added:
EFF foreign governments insist on
pursuing the policy of natonalizing
oil lands and reservng sub-soil rights
TO be held under government direction;
if they persist in attempting to keep all
of their own petroleum deposits for
their own future benefit, while relying
on the United States for a large share
of their present day needs, then this
nation will have no other alternative
but to take cogiZance of the attitude
of foreign governments and as mat
ter Of necessity and f-protection to
consider the adoption of measures re-
iprocally to conserve its petroleum
resources for its own people"
Must Face Production Problem
Essentially, Mr. Teagle said, the
American industry had to face the
prob en- of production. During the
present year, he estimated, the United
States would consume 445, 900 900 bar
rels of crude oil produced within the
nation and import 120000,000 barrels
additional II m Mexico
"Ihese figures matter little, but the
tendency is all important" Mr.. Teagle
said. at emphasizes the relatively
smaller part our home production is
going TO play in the future"
Mr.. Airey said it would be impos
tiblc for Great Britain TO corner the
worlds oil supply. Motives that have
been ascrlbed TO Great Britain of seek
ing TO create a monopoly over the
potential oil lands of the world were
untenabie, he declared.
Mr.. Smith declared the known Ame--
ican OF rcsources would last only nine
years and three months if depended
upon to furnish all the power the coun-
try consumes. Monthly statistics OF
production and consumption, he SAID
take on the Importance of danger sig
nails which must be read run slow