The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-05-03
REDUCTIONS PRODUCED THERE
BN COSTING PEOPLE or STATE
sj.OOO.OOO 4 YEAR. ARDMORE
PRODUCERS 500, 900 MONTH.

Garter county is leading every other
county in the state in oil production by
5000 barrels a day and Carter county is
more Interested in the price OF petro-
lcum than any other county for the
reason that ii has greater gains 10
make by advances and greater losses
TO share by reductions.
The combined reductions that have
been made in the price of crude in
Carter county are costing the produc-
crs 100000 day OF approximately
S3G. 900 900 year.
The loss 10 the state in gross pro.
duction taxes from this county alone
IS over a million dollars year aud
the loss to the state from all the fields
is more than five million dollars. That
Is why every man OF the state Is in
terested in petroleum. In some man
ner oil affects the fortunes of all the
people alike The industry Is common
to all Of MS in that We share more or
less in the wealth that comes from
the earth.
Tho reduction in the price OF crude j.
costing the producers OF the United
States the fabulous sum Of from one.
half TO threr-fourths ot billion dol
lars a year or two millions q day.
The causes Of the reduction in the
price OF crude oil is attributable to
these conditions;
The United States are producing o..
100000 barrels day which b. W
than the country hus ever projL
before There are being imp,
from Mexico 100000 barrels u
which Is twice the amount that v.
coming here a year ago FROM the sam.
source. Tho amount coming from
Mexico alone is greater than the COM
hiucd production ct Kansas. oklahoma
and Louisiana. Exports have almost
stopped, domestic consumption has
sluckrued and these conditions prevail
in the face Of heavier Imports and @
heavier domestic production. \ change
in The market conditions scented lur-
Vltlblr
During the month ut February the
trlinrri,s col the country We're running
only pant OF the time. vet during that
month los 100000 gallons oi ElsOlu'
went To- storage. This means thI, dur
iug this one month ns many az thir-
teen thousand ear loads OF gasoline
went to storage Gut th1, is not all.
there were placed in storage during
this same month 2iV 900 barrels Vf
crude uil that did not reach the rctn-
ors Tor the reason that thcy were not
running 10 full capacity. Not only are
the rrtinrties producing more gasoline
than there is demand fut but there
are not markets for the tull output ot
lUhrciting and fuel oils.
Tho majority of thr Mexican Imports
come from the southern fields OF tnat
country ana this oil reaches refinetics
un the Gulf and Atlantic coasts where
IL is manufactured into ten to fifteen
per cent gasoline.
The United states production of uil
is coming from approximately 100000
wells which represent an investment ol
many billions OF dollars while the M,vi.
60 production COMES from about twrn-
~ wells representing "a small ,Nprndi
turc when compared with tho cost OF
producing oil Ia this country.
The Prairie Pipe Line Company has
capacity to take from the Hewitt field
u .OOO barrels a day. ON the 30th Il
April the company took from Hewitt
sl.0OO harrpls. on May and . 1t took
s3.OOo barrels each day. This means
that tio Tmiic must run vil to store
age m ,idct to take this per cenBgc
cr the production aud the company
storage at this time is almost full
The company has reached that point
whctc fear Is entertained that 1t will
not be able to connect with any new
properties and thcic Is a likelihood that
Il will have tn resort iu the rnrr-
pcncy Of prumting its runs That will
mean that even at the reduced price
the producer cannot sell his entire
output
In the very midst OF this vast wealth
of oil the producer must suffer loss.
The very thing he has sought TO do has
reduced his revenue.
The conditions Ia the local field that
have lei to the over production have
been the sagernsss ON the part OF the
CONTINUED on Page Three)