The Cordova daily times., 1922-01-04

nOleS.
 "To drill and equip an oil we'll to- day, considering the country as a whole, costs on an average about seventeen thousand dollars. But America must have oil. If she cannot get it from her own fields she must get it from foreign fields If she cannot buy it from her own , citizens she must buy from foreign. CTS.
 "As is generally known, Mexico is the second largest producer of pe- troleum, In Mexico, as in the United States, American oil men have been and still are the leaders in petroleum development.
 1 Mexico last year produced twenty three and half per cent of the worlds total production of petroleum. l If Mexico drops out, what will be the effect on the petroleum situa- tion? What will be the effect upon the United States? Can you cut off quarter or a fifth of the worlds production without placing strain upon the petroleum market of the United States?
 "A large part of the Mexican pro- duction comes to this country. Sup pose that source of supply were shut off. Some will point to our large [ stocks of crude oil in storage. But do you realize that the total quantity of crude oil above ground in this supply?
 "Remember this: In oil we have | been having a feast. With four months supply on hand. are we we'll fortified against a possible famine?
 "First, we have greater co-op- eration between oil company man. 1 agers and employees, with steadily im- proving efficiency in operation,
 Second, we must say to the Amer ican public: American oil men do not seek success by cutting the other fellows throat
 "Third, American oil companies must work together in obtaining a firmer foothold in foreign fields: they must follow a policy of mutual help fitness in deveoping foreign sources of supply; they must take effective means of assuring to their own coun- try an adequate share of the worlds supply not merely for few years, but for all time.
 Fourth, the American government must back up the oil men of America in every legitimate effort to bring about this lasting assurance, and,
 "Fifth, the American people must realize that this cooperative effort on the part of their government, of oil corporations and of oil men is vital to their security and prosperity. l "I can say truthfully that a spirit of cooperation is permeating the American petroleum industry more l thoroughly than anyone would have believed possible before the war. "As an independent, am happy to say it is my opinion that the leaders of the Standard Oil Company do not want to freeze out the independents and that neither Standard Oil nor the big independents want to oust the smaller independents.
 "No American worthy of the name, whether an oil man or not, would en- Z, courage international irritation. It is because I am keenly aware of the delicacy and at the same time of the importnce of petroleum in this con- nection that I venture to put my fin tion
 Let us suppose for moment that all of the leading nations were to engage in the petroleum business as a governmental activity Under such circumstances, could the diploma cy of the world ward off internatiora al conflict? The answer seems obvious.
 ''Why, then, should any nation en- gage in the petroleum business as a government activity? The danger is the same. except in degree. 1 Can this danger be avoided if a government becomes heavy investor in private oil enterprise? The dan- ger is not removed; it is merely glossed over.
 1 We, as American citizens, except the firm backing of the Americ m government in every legitimate ef-