The Mankato free press., 1921-12-30
Parties From United States
Getting Into Game
OTHER RINTERESTSTHERE
British and German Capitalists
Have invaded Argentina
And Other Sections
BRYANTP0W

Buenos Aires. Correspondence of
The Associated PressJ-America at
last has entered the oil game In Ar
gentina and Bolivia, where English.
German, Belgian and other foreign
capital has already been put to work.
In Argentina, American capital
com1nonly reported to be that of the
Standard Oil Company, has been In
vested in the new field in the terri
tory of Neuquen, where drilling is
now going ahead with excellent pros
poets. In Bolivia, the Standard Oil
group recently obtained control of
huge amount of acreage held by the
Braden interests.
Oil Future Is Bright
Argentina's oil future is SO bright
that it Is commonly believed among
oil men that this Country will prove
to be one Of the worlds great pro-
ducing centers when 1t is adequately
developed. Bolivia also is known TO
possess possibilities of very great pro-
duction. The Bolivian territory, how
ever, because of the distance from
market and the difficulties in the way
of development, generally has been
considered by experts as a reserve
for the future. For some years Amer
ican geologists scouting for powerful
companies have been making detail
ed studies of prospective oil fields in
this part of South America While it
has been known that reports almost
uniformly were hopeful, no devel
opment work was undertaken, largely,
it is understood, because the Ameri
can companies were not satisfied with
the laws regulating petroleum de-
velopment that were in force. SO little
was done, in fact, that "the Americans
come, then the Americans go' be
came proverb among those inter-
ested in the industry in Argentina.
British Interests There
Powerful British interests, as wei
as German capital under the direction
of Hugo stinnes and others and money
from other nations, entered to field in
the face of legal objections. They have
now acquired such large interests that
Americans practically were forced IN
self defense to take definite action.
The first American purchase in Ar
gentina was the ground being devel-
oped by the "Compania Petroleo de
Challeco" in Neuquen, this company
being directed by Argentnes. Three
drilling rigs are now on the ground
there 1t is understood that drilling
operations will be actively pushed.
American manufacturers OF ol-wcl
and refining supplies and allied pro-
ducts should begin to look toward Ar
gentina as large potential market, in
the opinion of the many American pc
troieum experts now in the country.
Industry In Early Stages
While Argentina is already produc-
ing oil in at least two good fields, the
industry has not yet passed out OF the
swaddling clothes stage. In addition TO
tools for drilling, it will be necessary
to purchase thousands Of tank cars
eventually, pipe for the CONSTRUCTION
of pipelines, pipe for casing, ta1kage,
vehicles for oiltield transport, tank
ships and barges, roadmaking mach
inery for facilitating transport IN Tie
fields, refinery supplies, const uc ioa
material for refneries and re oad.ns
stations, and many other like p o.
ducts.
Because United States is the ho ne
of the oil industry and has always ed
in the development of the entire i,t-
dustry, it may expect large share
of the business that will be the Oh
come of the development here. Slnce
practically everything remains TO 5e
done in the industry in this country,
American firms selling oil field prod
ucts still may enter the market on
practically even terms with those or
other countries.