The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-08-14
oil. MARKrr QUOTATIONS..
The Refiners Making the
Price as Usual

While independent refiners are
not running near as much crude
through the stills as they did year
ago. in fact. are falling short hy
40 600 barrels a day, according to
ripclinc estimates made by men
1hose business It IS to know, thcy
are leading the way to better prices
hv paying premiums for oil wher-
over and whenever there is chance
tl break even and at the same time,
holm the oil producer to get a fair
pr!ce for his crude.
II il a most interesting fact that
tho first question asked by the pipe
line man is how much premium Is
the big independent refiner paying?
I, is also equally interesting to note
mat the magazines and newspapers
rho are devoted 10 the interest Of
the big monopoly, are apparently
amazed that the Independent rctiner
should have the audacity To pay as
much as 80 cents n barrel premium
f5r high grade oil. and this AZ
time when the Independent refincr
H. supposed to be thoroughly tanned
and laying dead because times are
hard and the big people are not
quite through with the program,
which calls for the purchase OF
worlds of good settled production,
while the price is kept down to 81
barrel. .
/. is not. however. as suggested
by some, that the premiums paid
by the Independent refiner is re-
spousible for the numerous big wells
that are being completed by the
larger concerns. because, in no in
stance are these people who are
crowding the drilling, getting any
premium whatever, they are mighty
well satisfied to get a lot OF OIL In
taukage, knowing fun well that 1t
Will soon double IN price and will
be a mighty profitable Investment.
il Is simply a fact that the little
refiner is in operation now, whereas.
90 days from now he will have
drawn in and II wise, will conserve
his resources.
There is no wisdom either in
comparing 1921 with 1920, because,
at this time a year ago, everyone
was rushing gasoline and refined
stuff to market to beat the freight
rates, which went into effect. Au-
gust 26, and put the retiners oi
the Mid-Continent field all 10 the
had at one lick. And even two years
ago, there was a bad slump in Au-
gust and the price of gasoline de-
clined steadily all during the month
This was the result Of price cutting
on the part of one big refinery who
made one big miscalculation and
stored a vast quantity OF gasoline
which was unloaded during the
month. 1t is not so now, and gaso'
line is holding up better than It dc
two years ago and. of course, 2
thousand times better than 1t dc
after the freight rates went int(
effect. a year ago the 26th OF tins
month.
The fact is, there is no preceden
to go by in the oil business: there
must be explicit faith in the future
Of the country, and this in spite
Of all the ills the flesh Is heir to.
and the Vaccinations, plots anC
conspracies of designing politicians
and when you think of It, the mae
pendent refiner is the greatest pro
duct Of our country and the mos
fearless fighter under the flag. ~
is never down in the depths OF de
spair, no matter how dark the out
look, but will come again to tn
front with his offer Of an advance
price and will do 1t in every montl
or day in the year, just 80 there !
margin of profit, however intin
itely small II may be. All honor L
him,