PETROLEUM NEWS.

Taranaki Daily News, Volume XLVII, Issue 81849, 24 September 1906, Page 2

PETROLEUM NEWS.

Since a company has "struck ile" in abundance in Taranaki, the discussion of the subject has elicited the authoritaitive statement that indications of petroleum are to be found in many other parts of New Zealand. Fresh disqoveries continue to be made and some of these may prove of groat importance. One of tli 1 latest "finds" has reference to Pelorus Sound, where indications of oil from 1 he soil and on the surface of streams, identical with those 1,0 common in Taranaki, have been observed. The prospect of payable oil-wells being- developed there and elsewhere ought to do something to allay the alarm that is felt regardingthe possibility of the Standard Oil Trust slopping in apd securing- a monopoly of New Zealand's petroleum output.—Times. Mr El! lias on the Par'iam'ntary order paper the following question. "Whether attention has been called to the disloyal and unpatriotic proposal of certain oil companies of 1 aranaki, Dunedin, and e'sowhere, operating the oil fields i|i Tariiiieki, to dispose of certain options to the notorious Standard Oil Trust of Am erica ; if so, will the Government take immediate action to conserve the interests of the people of New 7>t.aland?'' Sir William Steward is trembling before the same fear, and demands in a question which occupies four inches of Ihe order paper that legislation should be introduced to deal with tl}e position.