The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-01-08

the United states geological sur
vey Issued on December 2s. Exports
Of crude oil In the first il months
of 1921 we're S.3T.625 barrels as
compared with 7.3bb.2t9 barrels in
the first months Of 1920. FIX
ports IN November total 86i. 900
barrels compared with 53S, 900 bar
rcls In July and $4,000 barrels In
January.
Babson cities conditions In other
indust riea as n reason for predicting
further adjustment In the oil indus
try but he overiooks one very ma
torlai fact which shows why the oil
Industry has taken the lead In the
upward trend ~ values and prices
While the consumTSion OF all other
great staples declined during 1921,
the consumption Of oil Increased.
Tho United states geological survey
figures show consumption In No
vcmbcr reached 4G,5li,000 barrels,
the highest for any month In the
year except January, ard increneos
In the consumption OF oil were
shown IN every month In the year
since February.
Consumption of oil In the United
states IN the first II ponths OF
1921 totaled 477.243.0OO Barrels ~
of 1920 when consumption amounted
to 4S3,277 barrels. This is n dif-
ference OF only four million barrels
In favor OF 1920 which was an alb
normal year while 1921 was sub
normal.
Production Of ol In tho Unite1
states decreased sharply Snce the
peak In May. 1921. when the total
production was 42.OA3.00O barrels.
November production was but ST.
ESQ. 900 barrels and OCtober's pro
ductlon was but 35.G2i.000 barrels.
That further decreases In produc-
tlon may he expected as soon as tho
flush Is off the Mexia field In In.
dicatod by the drastic decline In the
number Of producing wells com
pletcd In the latter months OF 1871,
In Move mber, 1920. there we're 2,l36
producing wells completed IN ms
country, whereas In November
IG21, there were but 903 PRODUCING
wells completed. The number OF
producing wells declined steadily
from 1892 In January 1921, to 75s
In October. and the first Increase
shown this year was in November
when 81 more wells were completci
than In the month OF October.
In the first II months of 1921,
1ll,3S8572 barrels OF oil were Inn
ported Into the United states. all but
b3.94l barrels OF which came from
Mexico. Importatlons In the same
period O. 1920 totaled .aS,a2s,sOs
barrels Of which all but 'i.044 came
from Mexico.
Consumption Of oil will doubtless
decrease somewhat in the extreme
winter months and II Is exceedingly
probable that production Will also
decline. Imports from Mexico were
the highest in November OF any
month in the year except January
and Il is probable that they reached
tho high mark for several months to
come. Tho use OF oil In every de-
partmcnt OF trade and Industry Is
increasing and II predictions ot "A
gradual return to normal business
conditions throughout the world are
fulfilled. the demands for petroleum
will shortly far exceed the supply
and oil prices and values will move
to new high levels during
the coming year. with record
breaking domestic production which
will exceed that af 1920 by about
20 600 600 barrels. indicated for the
year 1921, and with importnt 'onS
from Mexico reaching new high
level In the same year. the unned
States had In stocs on the last daN
OF November sufficient oil to sur
ply domestic needs for only ''3
days. according TO the governm nj
figures.