TARANAKI OIL.

Taranaki Daily News, Volume LIV, Issue 244, 15 April 1912, Page 5

TARANAKI OIL.

THE POSSIBILITIES OF PETROLEUM. It is plain that the Taranaki (N.Z.) Oil Wells, Ltd., whose prospectus is now before the public, ia a corporation with bio things in hand. There is abundant petroleum in Taranaki, and the company has over 300,000 gallons of it already stored. The uses of petroleum seem 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. Esery new machine and engine made in the workshops of the world means—more petroleum.

Which is all very interesting to Taranaki. Here, people ane cheerfully engaged in speculation on what they consider a certainty. The Taranaki (N.Z.) Oil Wells, Ltd., is not ft 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 petrofeum has certain excellent and exceptional qualities. Wis richer than any other petroleum in paraffin wax, and is theretore 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 fuel; and the demand for liquid fuel increases every day. The Admiralty ft already looking for further supplies in British dominions. Great mercantile «feip» ping concerns, too, are fitting their steamers to burn petroleum. Even'our own splendid organisation, which is ever up-to-date, the U.S.S.C. of N.Z. Ltd is having oil furnaces placed in its latest magnificent steamer, a thirteen thousand ton vessel. At first, they are to be used in combination with coal furnaces, but ultimately it is expected that petroleum will prevail universally for steaming pur-

In fact, there is no doubt about the market. The Taranaki (N.Z.) Oil Wells, Ltd., should easily be 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 s.tuated at New Plymouth, convenient to the harbor. Tank steamers can be loaded cheaply, without delay and without waste. Here is the natural source from which the whole petroleum supply of Australasia should be drawn. Taranaki oil is what the Americans would call a gigantic-proposition.