AMERICAN CABLE NEWS

Hokitika Guardian, 7 September 1926, Page 2

AMERICAN CABLE NEWS

fAustralia & N.Z. Cable Association.j A WARNING NOTE. WASHINGTON, September 5. Serious concern over the future oil supply of the United States is mnni- f - tested in the report of tlie Federal Oil Conserving Board, which, after a year’s investigation of the national petroleum conditions, has made its findings known to President Coolidge. The report states that the present reserves in the pumping and in the flowing wells, are estimated at fortylive hundred million, barrels, which, theoretically, is only six years’ supply. The United States produced last year 750 million barrels, and it is producing and consuming seventy per cent of the . world’s oil production. There is a total investment of ninety-five thousand million dollars in these. Thus the business situation demands that every effort shall he exerted to secure . the maximum amount of oil from the known United States fields, to secure the development of new fields here and in Mexico and South America, pointing out also vigorous efforts at conversion. The report stresses the point that the American companies should vigorously acquire and explore fields in Mexico and South America, pointinjj.out that Americans now suffer from such foreign monopolies as rubber. It also advocates improved methods of oil-winning, the better utilisation of crude oils, the better control of the flush oil flow from the newly discovered fields, economies in consumption by improved mechanical devices, and supplies from the distillation of oil shale and coal.

AMERICAN DISASTER, MANY CASUALTIES. VANCOUVER, Sept. 5. A scenic train of the Denver and Rio Grande system, bound from Salt Lake City to Denver, mas wrecked near Halida. Fifteen persons are reported to have been killed and fifty injured. The engine and three coaches left the rails, and hurtled into the Arkansas River.