TARANAKI OIL.

Stratford Evening Post, Volume XXXII, Issue 92, 18 April 1912, Page 3

TARANAKI OIL.

THE POSSIBILITIES OF PETROLEUM.

It is plain that the Taranaki N.Z. Oil Wells, Ltd., whose prospectus 's now before the public, is a corporation with big things in hand. There is abundant petroleum in Taranaki, and the company has over 300,000 gallons oif it already stored. 'The uses of petroleum seem to be endless. Every new modern development increases the. demand for petroleum in one or other of its forms. Each motor-car produced stands for so much more petroleum to ,be devoured. Every new machine and engine made in the workshops of the world means—more petroleum. Which is all .very interesting to Taranaki. Up there, people are cheerfully engaged in speculation on what they consider a certainty. The .Taranaki N.Z. Oil .Wells, .Ltd., is not gambling. It knows how much oil it .can get, on the lowest estimate; it knows how much it will cost to get the oil, and how much; the oil is worth. Taranaki petroleum has certain excellent and exceptional qualit/ics. It is richer than any other petroleum in paraffin wax; and is ■therefore the best oil known. Consequently, it should always command the highest price in the market. When the more valuable qualities or substances have been extracted, it is excellent for liquid /uel; and the demand for liquid fuel increases every day. The Admiralty is already looktag for further supplies in British Dominions. Great .mercantile .shipping concerns, too, are fitting their 'steamers to burn petroleum. Even our own splendid organisation, which is ever up-to-date, the U.S.S. <Co. of N.Z., Ltd., is having oil furnaces placed in its latest .magnificent steamer, a thirteen thousand ton vessel. gVt first they are to he used in combi nation with co'al furnaces, but ultimately it is (expected that petroleum will prevail universally for steaming purposes. r.

In fact, there is no doubt about the market. The Taranaki N.Z. Oil Wells, Ltd., should easily he able to sell every gallon of its oil. But there is more than; that. It will sell its oil under conditions of .peculiar advantage. Its wells are situated ,-at Now Plymouth, convenient to the harbour. Tank steamers can he loaded cheaply, .without delay and without waste. Here is the- natural source from ,which the whole petroleum supply of Australasia should he drawn. Taranaki! Oil is what the Americans would call a (gigantic proposition.