The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-03-11

Storing Me ON
G. WRIGHTSMAN.

.,y,sf business investment to-
i"s a., storing OF Crude oil for
~ market. The big companies
5oire not with cxpeCtant loss
M ,.i,h assurance OF future proflt'
wv ,taugb tho market might dip.
~ d,pr,ciation can be but tempo
W. On is still greatly debated
"',,f.r and cannot be produced
-, The average well at a profit
20 por barrel. In comparison
t,, ofncr favorable market prod
,. Wv, oil should now bring 50 per
-,i rsg4rdless uf all the propa-
-, and misleading information
s,Nicb has been dumped upon the oil
,ognlry since tho tragic cut a year
"tn relation 20 costs Of production
q, nav Ic iruthfully said that the
n,iro OF crude oil has not been in
g,ted An recent years. The truth OF
,bis assertion would not only DC
,srified by the many small pro-
dueers. but II was corroborated ny
,hc notroleum board during the war
In tho reconstruction OF puslnoss
"a of the increased future demands
~ netroleum, admittedly growing
.,s,ter DAYS are schortly before the
petroleum. industry.
In the matter Of credits, the fed
r,al reserve banking board has
f.nds available for loans ON stored
nroduction, Such security. IS OF tho
highest character OF acceptable as
suranco. lt the large companies may
l rnioy recourse 10 loans for the car
wing on of their oil TO higher
market. there should be neither
criticism nor embarrassment for
lke business foresight on the part
5f the independent producer. II
Constitutes a simple constructive OBJ
,Jctiyc, with great recurring benefit.
Tho smaller producers themselves
would stabilize the market by hold
4 irg their production when the mar
4 bet dips and until normal times re-
turn. II Is OF common observation
That seldom indeed do the big pipe
4 line concerns advise their patrons
10 store oil The wisdom OF such
business process always becomes APP
a farent after the empty tanks are
II iled with cheap oil. Some OF the
"A largest fortunes Of the Standard oil
interests have been made alone
from the purchasing and reselllng OF
"A rude oil. Only in recent years
have these big companies. with few
EXCEPTIONS. engaged in the actual
II poduction OF oil
"A Since they have commenced 20
ia wsiuce OIL instead OF each action
M Ang disturbing, II IS really con-
~ Eructive through the education they
~ acquire az to increased drilling cost
n and operating expenses. II is pos
n able that their anxiety TO get into
n he producing industry may be the
y ominous fear OF foreign competi-
i ton entering into American territory
Il and picking up tho splendid buying
Il opportunities Of producing proper
lies, which the big boys have care
II t.lly worked out for their own in
Il tended acquisition. Instead OF for
Y, ,'ign companies being a menace 10
I me industry, az whole they are
decided benefit, They cause COM
n petition; they induce better prices
n loF both producing properties and
Il heir products. oil is precious
Il commodity. IL Is as vitally ncCcs-
n Sry Tor the comforts and requires
a ments Vt civilization as gold itself
q ana should likewise enjoy a world
ID vide market.
~ II is ludiCrous for some to oppose
oIeign buyers coming into the Mid
Nhunent territory for the purpose
acquiring crude production and
On the other hand 10 demand a
4 = market throughout the world for
1 rllhed products which are almost
4elusvely. carried on Standard oil
ID hApsny ships. The Dutch Shell and
Fl al toreigners Justly behaving to-
II Nara the laws Of our nation arc
%ralally invited into the Mid Con
.hent country "a give additional
Wnpetition TO our friends in New
tut tt[a VINO spend much of the de-
" "sItlul summer months In enyirous
u European Society