Evening star., 1935-11-24

6naleS.
Improved methods of discovery, de-
Velopment and recovery will make
available additional large supplies of
oil not only from fields yet undis-
covered, but also of oil heretofore un-
recovered from old fields.
This analysis of the Nations petro-
leum reserves and of the outlook for
the petroleum industry is contained
In report submitted to the board of
directors Of the American Petroleum
Institute by the National Petroleum
Trade Associations Executive Commit
tee. 1t covers the work of institute
committees which have been making
a survey with the idea of bringing up
to date 1925 survey of petroleum
reserves, and was filed with the board
during the institutes recent sixteenth
annual meeting at Los Angeles, Calf
1t was explained that the report,
which not only forecasts future de-
mand and reviews chronological and
other progress of the industry in con-
serving petroleum resources, was made
not only to reveal the industry's pres
ent position and outlook, but also to
refute charges of alarmistS that petro-
leum reserves are in danger of early
exhaustion. The report denies the
industry has been wasteful, and either
unwilling or unable to cooperate in
conservation efforts. and insists that
rigorous governmental control or max
ing the industry public utility are
unnecessary.
n y
Ignorance and misr representation of
the facts have persistently character
lied attacks on the industry" the re-
port said. "The American Petroleum
Institute has deemed it imperative to
state the facts. The present report
on the current position of the indus
try and the outlook for the future is
its broad general refutation of the al
legations against it, and its presenta-
tion in some detail of the evidence in
support of that refutation.'
Declaring that the industry pre-
Viously has been called upon to dispel
fears about the available supply of
petroleum, the report recalls that in
1925 similar study was undertaken by
the institute, the findings being pre-
sented in a report entitled american
Petroleum: Supply and Demand"
known petroleum reserves at that
time were estimated at 1921 100000
barrels, with indications that addi-
tonal reserves would be found. In the
10 years since that calculation, $685.
100000 barrels of oil have been pro-
duced and consumed-50 per cent more
than the entire proved reserves in
1925; yet more than 12,000,000000
barrels of proved reserves are known
to be still below ground.
1.-THE fact that proved reserves of
oil in the ground are now conceded by
authorities to be well over 100 per cent
greater than in the 1925 estimate, has
had no influence with the alarmists,"
the report states, and adds that as
result of the advances made by science,
technology and invention, the reserves
still to be located and developed are
far greater than have ever before been
estimated.
Improvements in production meth
q, ods, which also brighten the outlook.
are cited. These improved methods
make it possible to obtain from so to
100 per cent more oil from given
pool than has been possible in the past.
Cooperation among the States in
the control and conservation of oil Is
advocated in the report, which asserts
mo State. rich in petroleum, could
be expected to regularize, control and
limit production, while others were |
free to produce 'ad libitum' and seize
the market"
The immediate success Of the new
Lincoln Zephyr has raised the ques-
tion in automotive circles whether the |
gap between the Ford and the Lincoln
will not soon be closed with model |
to sell between $3.50 and $500 under
some kind of Ford trademark, accord
ing to the North American Newspaper
Alliance.
Hardly more opportune moment
could have arrived, in Detroit opinion,
for Henry Ford to round out his line.
The picture of rapidly rising automo-
bile sales and the apparent tendency
OF buyers to reach for slightly higher
price levels provide an invitation that
Ford may find hard to resist.
Corporations like General Motors
and Chrysler have developed in the
price group slightly under 1000 fer
tile source of profit. General Motors
has Oldsmobile and Pontiac; Chrysler
has De Soto and Dodge. Oldsmobile
|
100000 cars together this year, while
the output Of the two Chrysler units
will be more than 100000. In each
case, the 1885 volume will double 1884.
The departure Of c. w. Matheson,
vice president o. Graham-P Paige, for
South America is an example of the
interest in export possibilities.
It is to South America and Europe
that automobile manufacturers must
look for improvement in foreign sales.
So many branch plants have been es-
tablished in Canada in the last 10
years that the Dominion furnishes
only small outlet for American-made
cars. Nor will the new trade agree
ment negotiated between the United
States and Canada have much effect
on the ratio of exports across the
border.
The tariff changes on automobiles
and automobile parts are, In fact,
slight. A schedule follows:
Auto engines and complete parts
Present duty, 271a per cent; new duty.
IS per cent.
Passenger autos, $1,000 to $2,100-
present duty, 80 per cent; new duty,
221a per cent.
Passenger autos and trucks, under
81 ,200-Present duty, 20 per cent; new
duty, 1712 per cent.
Autos and motor vehicles not other
wise provided for-Present duty, 40
per cent; new duty, 80 per cent.
Tops, wheels and bodies-Present :
Jfyfxy an v,ar oav,t. v,ayr, d,,%v, 0TH x,n~