OIL SUPPLY OF THE WORLD.

King Country Chronicle, Volume VII, Issue 517, 13 November 1912, Page 6

OIL SUPPLY OF THE WORLD.

The substitution of oil fuel for coal aB a steam raiser is engaging close attention and while some oil enthusiasts believe that oil will altogether supplant coal some day, that date may be a very long way off because of the insufficiency of oil. Sir Beverton Redwood, who is a member of the Royal Commission on Liquid Fuel for the Navy, contributes some useful and interesting figures on the world's supply of oil fuel. He goes on to say that Bome of the older oilfields of the United States are bcoming exhausted, and at the present rate of increase Dr David Day, of the American Geological Survey, considers that the known oilfields of that country will, on the basis of the minimum quantity of oil obtainable, be exhausted by 135; this, be it remembered represents over 65 per csnt. of the world's present production. Of course, declares the "Financier," we are looking for a considerable expansion in other directions, and very largely in Burmah, Canada, New Brunswick, Trinidad, and Gold Coast, New Zealand, and Borneo, while the Russian and Galician supplies are regarded as more than exploited— in fact, oil is said to be obtainable everywhere —but over every district there must hang the same fate as is approaching the older fields of the United States. At present the whole production would not more than replace 5 per cent, of coal produced, or, say, 15 per cent, of the coal used in producding steam. It is a curious fact that at present Pennsylvania crude oil is the dearest of all the oils exported. The price works out at £2 4s 8d per ton, while Baku is £2 3s 9d and Galicia £2 2s 6d.