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Hokitika Guardian, 23 May 1925, Page 2

fact that nil is being used in an increasing degree in merchant as well a.s war vessels, but in spite of that, we do not altogether believe that the day of ccal is over or even in sight. Where coal can he | r. dined at a moderate figure. and ''.here the costs of transport and loading arc not excessive, coal can not merely hold its own, but will he cheaper than oil fuel. It must always he borne in mind that the visible world supplies of oil are limited, and that unless there are many undiscovered sources in the womb of the earth, the major portion of the world's motive power must ho supplied from coal. The unmined stocks of petroleum in the ITiited Stales of America wore recently estimated at !). 1b0.C00.000 barrels, and world resources at from o5,OB9.0« (Via to ro.l’bO.OOO.riO:) I arrels. A signilieant feature of the American consumption is the fact that that country’s oil ivources are being utilised more rapidly than are the supplies outside the States—in | iropcrtion to their valume, much more rapidly. More than three-li!ths of the world’s output is produced in the United States. 'I he reported output in the States increased from 351.000.000 to 7d0.000.000 barrels. America’s reserves represent about twenty years’ supply at the present rate of production. Production of crude oil in the States, atkletl to imports. have extended consumption for more than two years. In consequence stocks have accumulated in unusual quantities. The supply of coal is practically inexhaustible. Nearly every country ill the world has its own coalbeds of varying ipialities. and new fields are being discovered constantly. There is no fear of a shortage of supply fur hundreds of years. It may he also that at. no distant date coal will he treated scientifically in order to produce motive ]ower in a form umr.' ,-asily handled than raw coal. It is believed that this will come to pass in the near future, hut even if this is so, coal will still he uo.sos.snry for the production of such motive power. '1 he respective values nl coal and oil arc in the proportion ol three to one; that is, one ton of oil is equivalent to three tons of coal.. ’1 ho main laefer governing the consumption of them is tl. cost of the raw material, hut other things must he considered, such as tho handling on board, etc. It is doubtful if coal, at its present price, can compete with oil, hut there must la a change in the coalfields soon or the industry will cease- to function. Coal can. and must he produced in the immediate future, at a lower figure than obtains at | resent. It must be put in the position of being able to compete successfully, not only with foreign competition, hut with other raw materials. such as oil. The wider the market and the greater the .fade, the greater the prosperity for the industry

:;s whole. If the cost of oil is £3 1 : ' s per ten, then three tons of coal must he obtainable at a lower rale. This can and must lie done, if only lor the teasou that, on e imil is relegated to second place, and the majority of Mir merchant ships are equipped tor oil. the cost- of the latter will go up. This would he u natural phase of business, and what should intere-i us is the fact that, we would I e the first to sillier. Having lew oil supplies o! our own. we should lie at the mercy of the manipulator.- of otlrnr count l ies. Com 1M IM. to discuss the question. Mr u i!ha in Neagcr goes on to remark that the present deplorable condition of the (iml industry i- i'' :l '-'“at nteastite due l„ pje ~,n-tanl demands lor additional wages and threats of impending strikes. The demand- for additional wages are persisted in. notwithstanding the tact ~t t 1,,. ore-w i!t rapacity of the industry renders it imposihle to concede Midi let, lit mis. 'I iie lineals of strikes calls.dislocation of liusine.e. and render it ■ e skngly diilwult to dispose ol the (un"M output. and practical!' impos si 1 ile to cent i art with would-be buyers for fill tire supplies. Ihe post-war allit lid ■ ol Ihe I allw ay coinpa ne-s w ilh regard i; : e nil! -oils applications . | ~|. ~ rei hn '. ion in I ran sport , barges, t.-liar with that taken up i,v tie upper- and trimmers (when appealed to I'm dilute the loading ami despatch of vessels by the institution of a third shift), have placed a severe handicap no the shipment ol export and hunker coal, and have, in a great measure, been responsible lor compelling shipowners to lit out and eonteit \cssels for the consumption ol oil fuel in substitution of coal. I lie hilly of such policy on the part of railway companies, and tippers and triii-nu-is. must prejudicially alleel the revenue ol the former and. sooner or later, bring about unemployment in the ranks ol the latter. These are hut a few of the difficulties which the coal industry has had to contend with, and it is inevitable a re-adjustment must speedily be brought about, in the interests of all parties concerned, otherwise irreparable injury will he done to the industry. The present condition cannot continue for long, and tho fact becomes more pronounced daily that, unless a spirit of co-operation is engendered between the respective interests, disaster must overwhelm our chief national industries. The unemployment at present so rife must not looked upon as a malady or disease —it is really nothing more or less than the outward and visible symptom ol tin* odect ol the unpractical and rigid attitude taken tip by trade unionists at a period when 10forms, permitting the industry to adapt itself to altered and changed conditions, would have prevented it being forced to the verge of bankruptcy. As showing the suicidal effect ol the unwise policy of the miners’ leaders, it should he noted that no less than £450.000 has been lost to wages in the South Males coalfield alone, during the period. .May. Midi, to .limitary. 10*25, through intermittent stoppages at certain collieries, and tho indefinite closing of other collieries for economic reasons.