The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1922-01-01
Facts and Figures Indicate
Bright Future in Petroleum
Industry During Year 1922
Unanimous Opinion is That
a Record Price Will
Prevail in the
Year 1922.

That the independent producers may
face the New Year with confidence
and 1922 will bring with il better
market and more substantial condi-
tions, is the opinion OF IL. p. Nichols.
prominent member OF the local oil
fraternity and who is regarded as
one OF the most authoritative men in
the petroleum industry in America
today. In expressing his opinion, Mr..
Nichols calls attention to the vague
manner in which figures are to be
received relative to consumption and
production and in a very logical man.
ner covers the situation as regards
the worries" which the independents
have been having due TO the Mexican
and other situations presented by the
bringing in of new fields.
I'm not Gn astrologer," states MIR.
Nichols, nor would careful obscrva.
ton of the heavens reveal conditions
OF the Independent Producer on De.
cember 81, 1922.
Figures ancnt production and con.
sumption are a tonic to the struggling
independent, but figures lie when ap-
piled to this industry. Who can pre-
diet the outcome OF all wildcat wells
TO he drilled in 1929? We may Lave
another Beaumont, Cushing, Sour
Lake, Glen Pool, Healdton or Amat-
Ian thrust upon Us To upset all that
figures attempt to now prove.
There is no question but what
drastic cuts in the price OF crude has
had a tendency TO obscure the more
favorable factors. But certainly the
consumption during the first ten
months Of 1921 makes the outloolx
more encouraging. During this period
refiperies turned out 81 ,05s, 900 bar.
rels, exclusive of asphalt, coke, wax,
etc, or at an annual rate Of 445,272,-
600 barrels. This is in excess of our
domestic crude production of 443 .402,
900 barrels in 1920 Domestic crude
production totalled 0,2es 900 bar
rels or at an annual rate Of 470, 900.
600 barrels
I'm addition to 40 900, 900 barrels
Senor Obregon " Mexico during the
first ten months, 9S.344, 900 barrels, or
at an annual rate of 11S00S 900 bar
rels. Domestic production and Mexi.
can imports should total about 55S,-
900 barrels, compared with $50 ,000,-
600 barrels in 1929.
While the consumption Of crude in
1921 will be about Il 900 900 barrels
less than in 1920 it is far in excess
Of any previous year. The year 1921
would have doubtless shown q mater
ial gain but for financial conditions,
following our seance with the kaiser.
Domestic production and imports from
the domain OF Senior Obregon score
high record, and stocks are larg-
est since 1915.
1T is my opinion that President
Obregon of Mexico need no longer
be feared by the producer OF this
country. Unquestionably Amatlan,
Zacamixtle and Panuca fields that
nad \you scared out Of your boots a
few months ago have been knocked
out by our old, but never welcome
friend. Colonel Salt Water.
Pan American and Mexican Pete
kht. IohtAy ~ " AtAAto
Standard Of New Jersey is to the U.
$. Mr.. Doheny and one or two of
the smaller fry control about 80 per
cent OF the known crude supply of
Mexico, and being one Of the wisest
birds in the oil game, 1t is safe to
assume that Mexican crude will ma
terially advance in price. poheny re-
Gently predicted a decided decline in
Mexican production.
About IS yer cent Of our crude
will 60 10 supply Tin IAzzies' and
other gasoline motor vehicles. This
Leaves 352 2.5eo. 900 barrels 10 take care
o. lubricants, kerosene and fuel oil.
Present annual fuel oil requirements
of the United States including exports
are about 200, 900. 900 barrels and Mex
ico has been supplying about 80 per
cent OF this amount. Domestic pro-
duction would have to increase in ex-
cess Of 100000 barrels per day 10 fur
nish fuel oil and the lighter pro.
ducts and such an increase is i'm.
probable.
TO me II appears safe for the in.
dependent producer 10 face the New
Year with confidence. DO not per.
init mirages OF unlimited production
OF Mexia. Texas. northern Louisiana.
and southern Arkansas to get your
goat as Colonel salt Water has nj.
ready opened an office in these fields.
Resolve to give more personal at.
tention TO your field force. Something
Is radically wrong when your lifting
cost Is " cents and your neighbor's IL
20 cents per barrel. Discharge. he
thinks YOU cannot get along without
him. Hire someone else and you will
find the change TO result In ousting
few lesches from your pay roll.
You doubtless have too many bosses
and furnishing too many 'Ligzies'. DO
you realize II Is costing you about
500 per month TO keep q flock Of
'Lixzies' honldng7
ineteen.twenty.two will bring
with it q better market and more
substantial conditions"
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