THE OIL INDUSTRY.

Taranaki Daily News, Volume LV, Issue 89, 31 August 1912, Page 5

THE OIL INDUSTRY.

DISCUSSION L\ T THE HOUSE. SUGGESTED EXPERT ADVICE. By Telegraph—Own Correspondent. Wellington, Last Night. "I think there is no bigger question in }*ew Zealand," declared Dr. Newman in the House-this afternoon, in bringing under the notice of the Prime Minister the potentialities of the oil industry, and the advisability of encouraging the same. Dr. Newman urged that it was time the Government sent to Europe and America for the services of an oil expert or geologist for a year or iwo. Mr. Laurenson: What about Mr. Henry? Dr. Newman: He is not open ror engagement, and is not the kind of man I am talking about. He pointed out that if experts were employed in connection with agriculture, why not in connection with the oil industry? For many years they had been boring in Taranaki, and they had established an oilfield, but as to its extent he could not say rt He emphasised the excellent prospects obtaining in Taranaki. He declared that there was every reason to believe that an important industry would be developed that would be of immense value to New Zealand. He pointed out that £173,000 of private capital had been invested in the industry in Taranaki, and urged that* it was deserving of assistance by the State. He referred to the indications that existed right up to the East Cape. It had been absolutely proved to be the biggest thing in New Zealand. An expert could save considerable money in advising as to the best places to conduct boring operations. Sir Joseph Ward said that if the Prime Minister wnis going to take the question into consideration, he hoped that he would be careful as to the conditions and terms upon which the expert was employed. He believed the oil industry was worthy of consideration, but while he had no desire to throw any cold water on the industry, he would point out that there was always a danger of the Government being drawn into the matter if it should chance that the thing did not turn out successfully. The Mines De-, partment had laid down the rule that' the reports of its officers were not to be used in connection with the flotation of mining ventures.

Mr. Okey advocated State assistance towards the development of the young industry, and in this connection he also urged that the High Commissioner's office i>t London and the New Zealand office at Sydney should be kept advised of the progress of the industry by regular reports.