SEARCH FOR OIL

Manawatu Standard, Volume LVII, Issue 212, 7 August 1937, Page 2

SEARCH FOR OIL

0 OVERNMENT’ S INTENTIONS. MATTER BEING PRESSED. Per Press Association. NEW PLYMOUTH, Aug. 7. “I am confident that within the next 12 months we will he making the most serious euorts ever made in the search for oil in New Zealand,” said Hon. P C. Vvebb, -Minister of Alines, m the course of a civic reception at New Plymouth, this morning. Every large company had been told that unless it was prepared to seared lor oil with tho most modern appliances in the world the Government would take a hand in the matter. “J would not hesitate about asking the Government, not for £11)0,000, but 1 would take the risk of asking for £500,000,” the -Minister added. “If we spent £500,000 in the search for oil and the indications were such that wo were justified in spending £SCOXXJO or even £1,000,000, then that money would have been well spent, because once we get a liow of oil it is going to be a great asset.” The Minister said lie was very impressed with the oil prospects in Taranaki. “Wo have a Bill to come down, he proceeded-, “which provides that if oil is discovered it will belong to tho people of this country and no company. If we can produce petrol it will he refined in this country.” He added, however, that every assistance would be given companies prepared to drill for oil, and he was sure that inside probably the next year there would lie drills finding their way very deep in the search for oil.