The Washington times., 1924-03-28
LOO 7 ED IN
DEALS IS
CHARGE
Records Laid Before Senate
Committee Show Foreign
Nations in Control.
By JOHN T. LAMBERT.
Cosmopolitan News Service.

Cosmopolitan News Service.
Wrecked by treachery, proflig-
acy, and waste, the Nations sup
ply Of oil will be depleted within
twenty years.
America, without oil, will be at
the mercy Of any foreign foe. Her
aeroplanes, submarines, and bat
tleships would be helpless.
England and Holland have gar
nered the worlds supply and their
statesmen frankly declare they are
amazed at the recklessness with
which this country's public Off
Gals have allowed the generous
gift OF nature to he despoiled.
Officials Had Information.
Fail ana DENLY had that informa-
ton at hand when they turned over
the naval reserves to Sinclair and
DOheny. 1t was pressed upon them
by sturdy naval officers who risked
losing their own official heads for
characterization.
President Coolidge Is today in pos.
session Of the facts, and 1t is be-
cause Of them that he has created
O board OF experts to locate and
set aside new reserves to protect
America in the future.
Capt. John Halligan. r., Of the
United States Navy, drew upon the
evidence Of the best oil experts in
HhA UYnRvA NSA hto tn
upon DENLY and Fall to keep hold
OF the naval oil reserves.
That evidence has been put into
the records of the Teapot Dome in
vestigation. The following are some
Of the statements made not only by
persons Of high repute in foreign
countries, but also renowned experts
In this country who were astonished
by the rashness with which the Oil
supplies were permitted to dwindle:
Opinions Of Experts.
Sir Mackay Edgar, head of SpaI-
ing & Co.: "Within ten years, the
United States will import oil to the
extent of $1,000 zoo, 900 annually,
most Of which will be paid to the
British.
while America Is exhausting her
supplies at q prodigal rate, we are
getting a firmer grip upon the
worlds oil resources.
''For sixty years America has ruiz
through a legacy Of petroleum,
which, il properly conserved, would
have lasted her century and a
half. But carelessness and a gamb.
ling spirit have wrought an meal
culable and irretrievable loss to the
American industry. We hold in our
hands the secure control Of the
worlds oil supply"
Walter H. Long. first lord Of the
British admiralty: "If we secure the
supplies of oil now available in the
world. we can do what we like"
Dutch Predict Shortage.
General Manager Krocter Of the
General Oil Company and managing
director Of several other Dutch oil
enterprises: I'm the United States
within the next two years there will
be crude oil shortage and prices Of
crude oil and oil products and value
Of yet unmined petroleum must
necessarily feel effects of such I'M
avoidable shortage, and one result
can only be higher prices and a
large premium for oil reserves. So
British and Dutch oil enterprises
that have succeeded in securing con-
troll of q large part Of the worlds
petroleum reserves can face the flu.
ture with every confidence"
President James e. O'Neil of the
Prairie Oil Company: AFTER careful
study Of the situation. / am con-
WINGED that within ten years or less
the refiners of the nation will be
forced to secure at least so per cent
Of their raw products from outside
this country"
Chairman A.'C. Bedford, Of the
board Of directors of the Standard
Oil Company of New Jersey: Eng
land has been actively bent upon
getting a mortgage upon much of
the potential oil production, not
only outside of the United States
but actually within a few miles of
this very hall (San Francisco
$50 securely entrenched do they
feel now that they have taken to
commisserating us on the distress
we are shortly going to feel when
we cease to be the pre-eminent Pc
troleum nation and begin paying
tribute to their foresight"