Evening star., 1924-12-22
OIL MEN DIVIDED
ON 1925 OUTLOOK
Consumption Now Using Up
Increased 0utput-FueI
Demands May Grow.
BY j. G. ROYLE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, December 22.-The
cheers with which tho oil men Of the
country greet 1925 seem destined to
vary in volume and enthusiasm ac-
cording to tho district from which
they come. Tremendous storage
stocks still continue to blanket pros
poets for the Immediate future, and
production is not falling off to any
material extent. Nevertheless oil men
In some sections are thoroughly
hopeful for the future. This trend
of thought is most noticeable near
tidewater, while pessimism prevails In
a good many sections in the Interior.
OIL men are rather curious to see
what measures the new oil conser-
walton board appointed by President
Coolidge win recommend to discour-
age wastefulness. oyerproduction and
high prices In the future, since the
oil industry itself has been unable
TO restrict production and raise pres
ent prices. although its pocketbook
has been directly concerned.
Production Below 1928.
As to the statistical position. pro-
duction has fallen slightly below that
of 1928, a banner year. but only by
about l per cent, or 100000 barrels.
Gasoline production is running 20 per
cent ahead Of December, 1923. but
consumption of gasoline is more than
accounting for the increase.
In the East, especially in Penn
sylvania, and on the Pacific Coast
oil men are hopeful. They regard
fuel oil as a saving factor in the
situation and declare the use OF this
product Is only in its infancy, that
oil burners are being improved to
such an extent that thousands of new
bulldogs shortly will be heated by
this fuel and that It's use will tend
to curtain cracking for gasoline. Re-
garding stocks of the latter pc
troleum derivative, it is pointed out
there now are nearly 100000 cars
In use in this country and there
probably will be $4,000, 900 motor ve-
hicles registered by 1929.
Fuel OIL Prices Firm.
Fuel oil prices are firm and con-
tracts signed by large shipping COM
panies and the United States Ship
ping Board for 1925 deliveries have
been made at prices which are ad-
yantageous to producers. In fact
this trend upward has restricted use
OF oil for ship fuel in some instaces
Moore & Mccormack have already
started TO convert six of their ships
back from oil to coal burners. with
coal selling at s4.75 to IS at Hampton
Roads" said President A. B. Moore
1T is not economical to use oil. cost
ing more than $1.50 a barrel and the
price on the Atlantic Coast at pres
ent is $3.50. or course ships in the
inter coastal trade can still save
money by filing their bunkers or
the Pacific coast at sl40 barrel
1t Is estimated the change back &c
coal will mean a saving of SIS a
day on each of our ships, even allow
ing for the increase in f1remen."
In the California fields there has
been a steady decline in oil pro-
duction. Although production fell
on storage stocks on the Pacific
coast increased owing to slump In
shipments eastward by the Pan
anna Canal. Where 200, 900 bar
rels a day were going eastward last
January, shipments now are under
100000 barrels a day.
In Texas, however, the Worthan
Field and those of Regan county give
promise of heavy production, and oil
men who have no holdings in the
new fields are much discouraged.
The Central American districts
also are speeding up production. bu,
this Is counter balanced to some ex-
tent by the slackening of shipments
from Mexico which has been eviden,
this year.