The Daily News. FRIDAY, JULY 6. OIL FIELDS OF THE WORLD.

Taranaki Daily News, Volume XLVII, Issue 8150, 6 July 1906, Page 2

The Daily News. FRIDAY, JULY 6. OIL FIELDS OF THE WORLD.

At the present moment, when so much interest is being taken in the exploitation of the Taranaki oil fields, and more particularly those at New Plymouth, particulars of what is being done in connection with petroleum in other parts of the world are of considerable value. The " Scientific American," in a recent issue, devotes a good deal of space to the progress that the United States is making in the production of petroleum. Among other things, the paper affirms that the United States is now supplying 60 per cent, of the world s petroleum fully 84,000,000 barrels more tha* Russia, estimating the quantity secured from the Baku and other districts of the Empire at 85,000,000 barrels annually, the latest calculation. " Predictions have been made," the paper continues, "that the present year will have a showing of 150,000,000 barrels for the , United States. When the production of the newer fields is analysed, and consideration given the activity in boring wolls and exploiting additional territory, these figures do not appear to be exaggerated. The development of the oil-bearing lands in the country has been phenomenal. In Texas and California new fields have been discovered. In Texas one field, called " The Humble," was unknown at the beginning of 1905, but the latest estimate puts its daily vield at between 80,000 and 85,000 'barrels, although at the time of writing less than seventy-five barrels had "come iD." In the same State 735 wells were producing oil in June, 1908. In six months the number had doubled, and at present more than 2500 were flowing sufficiently to pay for their operation. The beginning of the industry in California was in the suburbs of the city of Los Angelos, when, in 1892, the first paying well was sunk, A year later the Newhall district, as it is called, supplied about 100,000 barrels. Since that time important deposits have been found in different parts of the State, the activi'y in many districts having assumed large proportions. One place averages 1,000,000 barrels monthly alone. There is a wide di- ■ versity in the quality of the oil ot the States. The Pennsylvania oil yields the most value. One hundred gallons of the crude represents about 70 gallons of fair-grade illuminating oil, three gallons of lubricant, and eleven of the naphtha grade, the quantity of waste not exceeding 5 per cent. It is interesting to compare this analysis with Professor Easterfield's analysis of the Taranaki petroleum. This is it: Benzine per cent., burning oil 40, heavy oil for lubricating 37, pitch 2, loss 1; total, 100. Prom this it will be seen that the Taranaki petroleum is of a very much better quality thin the American article, and therefore its commercial value will be considerably greater. Sir James Hector, it will be remembered, many years ago gave it as his opinion, after analysis, that the Taranaki petroleum had no equal in the world —which is saying a great deal. The paper quoted says that the economy of petroleum as a liquid fuel has been so appreciated that the majority of the railroad companies, especially those in the south-west, have substituted it for coal. It i.--also being supplied to sugar refineries and other industries for use in connection with stationary engines, and a large lleet of steamers plying from the Pacific Coast ports are burning it exclusively. And what is being done in America can be done here when the oil is thoroughly exploited,— now within measurable distance of accomplishment. Then we hope to see New Plymouth and Taranaki generally jiO forward in a manner it has never done before.