The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-11-21
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United States Supplies
63.SGo of Worlds Petroleum
Production

The United States IN 1920 pro-
durrd cas- per cent Of the total
Vor,Is production OF petroleum.
sIpgs the commercial beginning OF
petroleum production In 1857, the
United states has supplied bl.l per
cent of am oil produced. The i'm
po.tAut relationship that the Amer
lean petroleum Industry bears To the
world q requirements Tor petroleum
.U be discussed by many notable
sreak,rs at the second annual meet
inc Of the American Petroleum In
Witute. Chicago, December o. Z
RANKING second to the United
States lu petroleum production in
1920 was MeNlcO and interesting
phages of petroleum development in
that country will bg presented by
sneakers at the institute meeting.
Mexico produced 2S.j per cent OF the
totaI world production In 1920, but
It's percentage OF the total volume
produced since 1857 was only 81 per
cent, due to tho fact that Mexico .
commercial production dates back
only ,0 1906.
Among the speakers at the iusti-
.ute.s annual meeting who have had
intimate praticai knowledge OF the
producing end OF the industry Will
be Harry h. Sinclair. chairman OF
the board Sinclair Consolidated
corporation; Thomas a. O'DunnclL
president. American Petroleum lusti-
tute. Edward l.. Dohcny, president,
Pan American Petroleum and Trans
port company, and Frank Haskell.
president, Tidal oil company.
Advance Note on Convention.
Editors Note. Someone IN per
-. l.. -.
this desk a complete report on the
meeting held IN Washington year
ago. with the request that all the
speeches be printed on the eve OF
the Chicago meeting. because they
believe that the prediction OF a
world ehortage of oil, which domi-
mated all the speeches last year, will
come true now" Il 10 only fair TO
give the American Petroleum lnsti-
tute a chance to try It again even
though one who spoke at last year $
meeting. advised the conservation
OF oil TO the last degree" The fact
is, when 1t comes to being prophet,
one mans judgment is AS good as
another's and there Is no one who
has the gift OF prophecy when IL
comes TO the oil business.
I, IL frequently stated that the
present market Is manipulated
market. and this too, seems TO be a
long ways from being true. The
failure OF the Mexican oil field,
which has had its rise and fall since
the convention year ago, could not
hCe been forecasted last December,
y seems, however. that the ever
growing demand for gasoline should
have been well understood, and per-
haps 1t was at the time the conven-
tion was held In Washington In 1920,
but there was a painful lack OF
knowledge as 10 real conditions
throughout the Continent field.
One Of the largest operators, who
has spent months I'm California, and
who Is back in Tula, has this to say.
1T Is not manipulated market
now, with oil at So a barrel, but II
was manipulated market with oil
al a barrel and the National Pc
troleum Institute had it's fun share
In putting over the propaganda that
made the oil producer take his medi-
cine and look pleasant. What It is
going to do next, remains to be
seen
But as Mr.. Teagle pointed ont
when here the other day, the man
who prophesies Is likely 10 lose his
reputation II he guesses wrong once
no matter how many times he has
guessed right. There will probably
great deal lo9s OF prophesy at the
Chicago meeting than year ago
and at all events the convention will
be most interesting.
The program as announced if
bound 10 bring forth some interest
Ing statements OF fact, II the future
Is not forecasted II would be worth
the price of admission to hear Harry
sinclair eluCidate mis- views, because
We all know Harry.