To the American people, who use six times as much petroleum per capita
as the citizens of any other country, and who own ninety per cent. of
the motor vehicles in operation in the world to-day, the question of
future supplies is vital. In the face of an ever-increasing demand
for petroleum and its products--through the many channels that have
been described in this book--the ratio of production to consumption
has become so altered that it is apparent that the United States must
in a steadily expanding degree look to other lands for its future
requirements. Statisticians and scientists differ as to how long the
stores of petroleum still lying untapped in our own soil may last,
but are agreed that at the present rate of consumption the American
fields will have been practically exhausted before the dawn of another
century and that adequate foreign reserves to supplement them must be
made available by American enterprise. Petroleum is therefore a problem
about which the man on the street and not merely the oil merchant must
perforce think internationally. The people of other countries are
to-day wide awake to the necessity of securing petroleum reserves
for themselves in regions of potential oil-bearing character; and in
some instances they have shown themselves very active.
[Illustration: Steam stills at a modern refinery]
[Illustration: Storage tank at Cushing, Oklahoma, struck by
lightning--not an infrequent occurrence. 55,000 barrels of crude oil
being consumed]
In an exceedingly able paper presented by Mr. David White, Chief of the
United States Geological Survey, to the Society of Automotive Engineers
in February, 1919, that authority drew attention to “the widening
angle between the flattening curve of production and the rising curve
of consumption,” and announced that after a most exhaustive survey of
American oil potentialities, in which many experts coöperated, the
conclusions had been reached that the available oil in the ground
at the end of 1918 approximated 6,740,000,000 barrels. The total
production of crude from the United States wells from 1858 to the end
of 1918 was approximately 4,598,000,000 barrels, more than two-thirds
as much as the total remaining in the ground according to the estimates
of the Mineral Resources Division of the Geological Survey. To
understand fully the significance of these figures it must be realized
that the rate of production has enormously increased during the past
decade. Mr. White’s figures placed the oil produced from United States
wells in 1918 at 345,500,000 barrels. Production, if continued on like
scale annually, would exhaust the estimated supply in America in less
than twenty years. Moreover, despite its vast extent, the curve of
actual production in that year fell so far short of the requirements of
domestic consumption that the amount of oil in storage was reduced to
the extent of 27,000,000 barrels, and it was necessary to supplement
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