The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-04-05

storage tank in the last six months
last year, 4,239.OOO barrels were
added In the last three months OF
tho year. This limited addition to
tho stocks cannot be taken by the
marketing concern as justifying the
Wholesale reductions in the market
quotation Tor the various grades OF
crude oil produced east Of the
Rocky mountains, from the fact that
consumption shows up during the
late fall and winter months OF the
year and from the further fact that
the stocks OF crude oil available
for immediate use are far below
the factor OF safety The surveys
revised figures give iG3.755,OOO bar
rels In storage at the end OF 1915.
and l33,G90,000 barrels at the end
OF 1920, total decrease OF So,
065,O0O barrels I'm the five years.
The Banner Year.
In the annals OF the petroleum in
dustry in the Uniscd States the
year 1920 records the 62nd year
since the completion OF the worlds
first commercial oil we'll; in the
chronicle OF events the yeas has
no precedent I'm past history. IL will
be recorded IN oil history as the ban
ner year in number OF new wells
completed, quantity produced. trans
ported, refined and marketed, to-
gether with the total quantity con-
sumed, including domestic and i'm
ported petroleum, both crude and
refined and exports.
The United States geological sur
vey reports total marketed pro-
duction Of petroleum i'm this Coun-
try In 1920 OF 443,402,0 barrels
n monthly average Of 3G,95O, 600
barrels and a daily average, 1856
days Of 1,211,475 barrels. The 1920
crude oil production shows an in
crease as compared with the guam
tity produced in 1919 Of 65,6S3, 900
barrels This increased output rep
rescnts more oil than was produced
in this country during any one year
10 and including the year 1900. a
period of az years, and tho average
monthly production In 1920 Is more
oil than was produced In this coun-
try during any one year to 1883 in
elusive, a period OF 81 years. The
previous biggest increase In pro-
duction during any one year oc-
CURED in 1907, aggregating 39,601,-
399 barrels, the result OF the tre-
mendous output OF the Glenn pool in
Oklahoma and the newly discovered
Illinois oil fields.
This country is now producing
over 300,000,O00 barrels, more oil
in n three-year period than was
produced during the first AZ years
OF the industry, and Is consuming
It at the rate OF 595.S12,000 barrels
n year-January, 1921, figures
which in a three year-period would
total 1.7S7,436,000 barrels, equal TO
the total quantity produced in this
country during the first 40 years.
The magnitude OF the 1920 crude
oil production can be better under
stood and appreciated when it is
stated that the quantity exceeds the
worlds total crude oil production
during any one year TO and inClId-
ing the year 1915 by 15,65o.Si1
barrels. Equally impressive is the
fact that the 1920 output Is nearly
equal to the total quantity produced
in this country during the first 32
years. or to and including the year
1890.
According to the United States
geological survey monthly reports
made public. the consumption de-
mand for domestic and imported
petroleum, including exports,
reached the enormous total of 531,-
16OguVN bdl ltl6s u llpHNlllg db'
of 44,265,0 barrels, and a daily
average, 3G6 days, of 1.451,S2s bar
rels. This Is an increase as COM
pared with the consumption de-
mand in 1919 OF 112,7O9,O00 barrels,
which is over 100000 greater
than the total quantity produced in
this country during any one year,
to and including tho year 1908, a
period OF As years. The quantity of
petroleum and its refined products
sent abroad In 1920 Aggregated
3,100,5O9,G00 gallons. which reduced
to barrels of ~ gallons capacity
each total T3,82l,657 barrels. The
oil export trade in 1919 reached
2,492,745,397 . gallons, or 59,35l,0sl
barrels. The total declared value
of the mineral oil exported last year
amounted TO $549,34S,s40, as COM
pared with an export value in 1919
of $343,776,3S5, an increase in
1920 OF 14,47O.576 barrels in
amount and s205,572,455 in value.
which reflects louder than words the
profitable character OF tho Amer
lean oil export trade. December
was the banner month both in guam
tity and value, aggregating 320,l72,
731 gallons in amount and $62, AL
was "A good second with POI. .407,521
gallons and S52,203,226 in value.
July had TO It's credit 276,S1l,l60
gallons and s51.243,933 in value.
March shipped 217,946,4S4 gallons,
value $44,255,946, April and June
shipments had a value OF s49,143,-
SSs and S46.500,766 respectively,
No branch OF the petroleum in
dustry has expanded faster in the
last 10 years than the export busi-
ness. Breadstuffs, meat and dairy
products and cotton are the only
items that exceed this trade in
value American refiners are now
meeting an unprecedented foreign
demand for gasoline and lubricatng
oil. and are handling an export
business in all products most grati-
fying to the trade, and is capable OF
expansion, limited only
by the inability Of exporters 10 Sc
cure supplies and the importers to
finance payment for these supplies.
CThe end)