Evening star., 1923-04-01
DRAINING u. S. OF OIL
FOR BENEFIT OF RIVALS
Disclosures Made by Two Official Inves.
legations Expected to Lead to
Action by Congress.

leasing law, relating to oil, coal, etc,
1t provided:
THAT citizens OF another country
the laws, customs or regulations of
which deny similar or like privileges
to citizens or corporations of this
country shall not by stock owner
ship. stock holdings or stock control
own any interest in any lease acquir-
ed under the provisions OF this act"
But this provision relates to de-
velopment of oil leases on the gov
ernment domain. Foreign interests
may still acquire privately Owned oil
properties in this country.
From British viewpoint.
In this connection a statement
made by Sir Mackay Edgar, head OF
Sperling & Co, London bankers. in
1920 on the international oil race is
of interest and significant. He said:
while America is exhausting her
supplies at a prodigal rate of speed
| we are getting a firmer grip upon the
| worlds oil reserves
1t appears from the report of the
| Federal Trade Commission that the
United States now produces over 60
per cent of the worlds total output
of crude petroleum. but that. never
| theless. it's production has not kept
pace with its requirements for domes-
tic and foreign trade. In 1917 the
production of this country was 335.-
/ $4,000 barrels. and in 1921 469. 9.639.000
! barrels. while the net imports in
4 ~,
to 16.S67.000 barrels in 1921.
| To meet the growing domestic and
export trade-growing rapidly-the
known oil fields Of this country are
| being rapidly depleted. The present
sources of supply of this country are
| located within the United States and
| in Mexico. The supplies of It's chief
foreign competitors are distributed
widely geographically, which Is an
! advantage in case of war as we'll as
in time of peace.
! Barred From Public Lands.
Former Secretary Fall of the In
terror Department while in office de-
MED applications of the Roxana Pc
troleum Corporation for leases of oil
lands of the Creek Indians in Okla
homa This action was taken in the
| interests of the conservation of
| American oil. for the Roxana is own
ed by the Shell Union Oil Corpora
| tion, controlled by subjects Of Great
Britain and Holland.
The report of the trade commission
goes in great detail into the ramifica-
tions of foreign interests in the OIL
producing fields of the United States,
crude petroleum production Of the
crude petroleum productio nof the
Royal Dutch Shell group and also
the proportion of the production
handled by this group abroad.
| A list of seventeen British oil com
panies operating in this country is
given in the report also.
That the Senate committee on
| manufactures will follow up it's re-
port and recommendations on the oil
situation with proposals for legisla-
tton is confidently expected. The
agitation for protective measures is
growing stronger and stronger. In
past years bills to protect American
oil resources from exploitation by
foreign nations have been offered by
Senator Curtis of Kansas and former
Senator Phelan of California.
World OIL Production.
The Royal Dutch-Shen group pro-
duced in 1921 S4,032, 900 barrels of pc
troleum, Of which 100000 was
within the United States. The total
world production of petroleum in 1921
was 765,065,0o0 barrels, of which the
United States produced the largest
amount.
1t is not difficult for the American
who drives an automobile, who uses
a gas engine on his farm or In his
factory. who heats his home with
fuel oil or drives his ships with oil
to realize that to just such an extent
as the oil resources of the country
are depleted for the benefit of foreign
nations so much will he be affected
when it comes to obtaining and to
paying for his fuel oil.