The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER FRIDAY, MAY 7, 1915. THE BLACK SEA TRADE.

Stratford Evening Post, Volume XXVII, Issue 6, 7 May 1915, Page 4

The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER FRIDAY, MAY 7, 1915. THE BLACK SEA TRADE.

Apart from the great military importance of the forcing of the Dardanelles, an undertaking which is costing tne Allies so many valuable lives on land and sea—the economic effects are tremendous, influencing us they do the welfare of millions. l< or several months an enormous proportion of the agricultural and other produce of the great Uussian Empire Has been locked in, unable to move, and the Black Sea has been tne Dead Sea so tar a»s the traffic of nations is concerned. The oil-wells of both Russia and Roumaniaj have continued to produce oil, and had to continue to do so where labour was available, tor the closing down of a producing well is a costly, and often ruinous, resort, owing to the influx of water when pumping operations cease. It has been computed that the output of oil from Russian oil-wells amounts approximately to eight million tons a year; of which, after refining, a largo quantity goe s into the interior, and the balance is exported. In the year 1913 tho total quantity of different oil products amounted to about live million tons; in 1911 this had fallen to about three-and-a-half million tons. In addition it is probable that stocks have now accumulated to the extent of two million tons, and when the Dardanelles are open this vast quantity of various oil products will be available for distribution. In the year 191-1 Britain relieved Russia of thirtysix million gallons of different descriptions of oil, more than a third of which was benzine or petrol; last year, owing to the war, she could only get twenty-one million gallons from this source, and since war broke out practically no oil at all. It is stated that Roumania is in similar plight, but rather worse, inasmuch as her organisation and facilities are not so ample. Her lot is. indeed, a hard one.. For years past her oilmen, backed by the Government, have striven energetically to build up a prosperous industry. Her ambitions lay in the direction of securing some portion of that most profitable section of the trade, the manufacture and sale of benzine or petrol. And her success was considerable. The total output from Roumanian wells in 1913 amounted to 1.885.01)0 tons: in 1911 to 1,771,000 tons, not so great a decline, considering the adverse conditions. Hut, unfortunately, she is one of the innocent who suffer, and only the opening of the sea route again and the resumption of her export trade can save her from' disaster. Compared with Russia her oil industry is small, yet at. the end of last year the accumulated stocks of oil amounted, according to the

"Petroleum Review," to 600,000 tons. The same authority states also that these reserves have increased at the rate of 60,000 tons a month, so that at the end of March there was hoarded up 111 Roumania about 800,000 cons of oil. And still production goes on, and must go on, ami this great quantity of wealth lies idle until the passage is forced and the ships now shut up in the Black Sea are free to sail to the great markets. I