The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-19
OIL PRODUCERS
NEED ALTRUISM
IN BUSINESS
Consideration for En-
ployes Stressed at Mid
Continent Dinner
EXTRAVAGANCE TABOO
Good Business Sense Dictates
Workers Should Be
Treated Fairly
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been bis unpleasant duty 20 issue
statements that were considered
pessiiniStic because they carried
a warning against unwarTanted
optimism and the drilling Of unne-
course OF events. however. down 20
the present time" said Mr.. Davis,
seems TO have proven conclusvely
that tho warnings should have beea
more frequent and moro vigorous"
Tho oil producer. he said, is by
nature an optimiist--and. by the
very nature OF the business. he has
to be. He doesn't know much
about marketing" added Mr.. Davis.
He has never had 10 meet any OF
its problems. All that he has ever
had to do has been to find the oil
and get II into tank. The purchas-
price? Well. ~ he getA the kind OF
wells he's thinking about. he'll make
a fortune at any old price. Too
much oil? Well. he doesn't believe
all these statistics A friend OF the
tank farm boss at Ramona told him
they emptied n 3b,000-barrel tank
there last week. and IL there was
as much oil as they say. how is It
that so many premiums are being
paid? And so no starts another
well, or perhaps a dozen"
1t appears that the present shut
down movement. like all OF its
predecessors. has met with very
limited success because IL has seemed
impossible to secure discontinue
ance OF drilling where the operators
are getting large wells, which means
that they will continue 10 drill so
long as there Is an apparent profit
without regard 20 the general wei
fare OF the industry" said Davis IN
commenting on the present situation
which is confronting Continent
producers" Indeed IL seems that
they will continue 10 drill where the
chances Of profit are very slight
rather than that their neighbors
might perhaps secure a little more
oil.
The public press recently carried
the Information that operators in
Salt Creek. Wyo.. have agreed 10
shut down all drilling by December
first. and 10 remain in that condi-
tion for five months or until May
first. | DO not know now such
action wae brought about. but II
similar movement could be effected
here In the Mld-Continent field Il
would restore equilibrium 20 the In
dustry throughout the eutire United
States.
If necessary to save the industry
from Decentralization which will re-
suit from continued ver-production,
a duty and moral obligation rests
on all to put aside self interest in
the emergency for the sake OF the
general good OF the great mass of
producers. You will say this is al
truisn. IL 30. the introduction OF a
little of IL into business would help
and not hinder. but I also declare
that from a purely selfish point OF
view. II It would thus be possible 20
bring about shut down and to re-
store the Industry TO equilibrium, II
would be better 10 lose a little si.25
oil TO ones neighbor in order that
the remainder. thus stored in the
ground, might be sold at prices COM
mensurate with it's intrinsic value.
Davis expressed the view that con-
sumers OF petroleum products in the
United states never paid the prices
they should, and the last two years
he characterized az CONSUMERS
paradise When the public gets
used to having It's gasoline tanks
filled at a certain price, he said, any
material advance brings forth howls
of indignation followed by the
usual investigation by some govern
mental agency. Thus, the violent
price fluctuations resulting from the
rising and falling waves OF crude
production are Irritating TO the
country at large which does not
know that ~ has been enjoying low
prices even when they have been at
their maximum he said.
There is a growing tendency. MIR.
Davis said. toward government con-
troll of business and industry, and
II this calamity Us to be avoided by
the oil industry, the existing mad
competition must give way TO a rea.
sonabh and beneflcient co-opera-
ton which will be sufficient TO sta
bilize and keep the industry on an
even keel In times OF stress
The address of n. =. Macarthur,