Image from page 591 of “E/MJ : engineering and mining journal” (1919) – more Marine Life goodness curated by www.SardineRunPE.co.za
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Title: E/MJ : engineering and mining journal
Year: 1919 (1910s)
Subjects: Mineral industries Engineering
Publisher: New York : McGraw-Hill
Contributing Library: Engineering – University of Toronto
Digitizing Sponsor: University of Toronto
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Text Appearing Before Image:
dominant position of oil in the industrialworld today is a matter of common knowledge. Theeconomic life of the country demands that this produc-tion be not only maintained, but actually greatlyincreased; also, considerable apprehension is now beingfelt in high sources as to the outlook from drillingoperations. In the latter part of May, 1919, an exceedinglypessimistic report by the U. S. Bureau of Mines was passing almost entirely into the political and economiccontrol of foreign governments; that the United Statesis thus likely to pass from the position of dominanceinto a position of dependence, and that in 1918 theUnited States imported 39,000,000 bbl. of oil, in addi-tion to using from our reserve stock about 27,000,000barrels. It is estimated that the demand on the oil industrywill reach about 800,000,000 bbl. per annum by 1927and that all known and probably all underground re-serves will become entirely exhausted by 1928. It istherefore apparent that some other source of oil must
Text Appearing After Image:
LEDGE OF PAPER SHALES LYING NEAR TOP OF MOUNTAIN transmitted to the House Committee on Appropriationsthrough Secretary Glass of the Treasury Department.This report states, in part, the actual conditions whichcause the present apprehension pertaining to the oilsituation, and sets forth the facts that the undergroundreserves of the United States are 40 per cent exhausted,and that domestic production from drilling is probablynear the peak stage; that the consumption of petroleumis increasing far mora rapidly than the domestic pro-duction; that the oil contained in the vast reserves ofoil shale is not yet available; that petroleum has becomethe fundamental basis of the industrial and militarylife of the nation; that gasoline has become the motivepower for approximately 6,000,000 automobiles andtrucks, for airplanes, farm tractors, motor boats, andnumerous other industrial purposes; that fuel oil hasbecome necessary for our navy, our merchant marine,and larger industrial plants; that the p
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