PETROLEUM.

Taranaki Daily News, Volume LVII, Issue 267, 21 April 1915, Page 7

PETROLEUM.

WORLD'S OIL PRODUCTION". A most interesting survey of the world's oil production during 1013 is given by tlie Petroleum Review:—During the seven years in which Dr. Day, of the United States Mines Department, has been the author and compiler of his interesting statistical reports, the petroleum industry of the world has made marked headway, as may be seen from the fact that, while in 1007 the total production of crude oil was but 233,000,0!)!) barrels last year it amounted to no less tliaii 380,000,000 barrels, or over 54,000,000 tons. But the advance of the United States during this period has been greater in proportion than the world's increase in petroleum production; for, if we compare the output of the United States when Dr. Day took charge of the survey with the record achieved during his last year of office, it will be found that this expansion of crude oil production is represented by a gain of little less than 100,000,000 barrels. The world's oil output last year was upwards of 380,000,000 barrels, and of this amount the. United States produced approximately lif> per cent., while Russia comes second, and Mexico third.

l'rom point of importance alone, therefore, the United States necessarily comes in for the greatest consideration in Dr. Day's report, and several interesting facts are now brought out. Tlie study of the domestic, production of petroleum in the United States yields ,-t story of progressive maxima for tlie last seven years, until, in 1013, the output reached 248,445.230 barrels, or nearly '20,000,0011 barrels more than in the previous year, when the production was 222,035,044 barrels. Although the production of the United States di'ring 1012 exceeded all previous records, the-yield of 1013 surpassed it by the greatest gain in any year since 1010. In fact, the increase of 1013 over 1012 was greater than the total production in any year from the discovery of petroleum until 18S(>, and the output of 1013 equalled the total production of the United States for t'<e first twenty-five years of the industry. The production of the United States in 1013 was even greater than the world's production in lOflfi. seven years earlier. The immense importance of the petroleum industry of the United States may be gathered from the fact that the quantity of oil produced since the commencement (if the industry in 1850 has been

3,0110,004,(i05 barrels, and the total value has been over £500.000,000. California still maintains its lead in the producing States, but during tlie past, year the value of its production has been below that of the mid-continental fields, this change being not only due to the substantial gain in the production of the Oklahoma. Ilelds, but to the increased prices for Oklahoma oil. whereas in California there waa practically 110 guiii in price value during 1915,