NATIONALISING THE OIL INDUSTRY.

Taranaki Daily News, 11 January 1916, Page 4

NATIONALISING THE OIL INDUSTRY.

The ever-increasing demand for kerosene, benzine and the other products o' petroleum call for action by the State for the development of Hi; oiiflelds of the Dominion. Private enterprise has accomplished much in what may he termed the pioneering stage of the industry. It has established the fact that there are vast stores of petroleum awaiting exploitation, and, what is of far greater importance, has proved that the product is of the most payable kind, the analysis of Tarauaki oil showing that the residium is only three per cent. The benzine produced from the Taranaki product has proved itself to he quite equal, if not superior, to the imported article. Now that this motor spirit is in such extensive demand, its manufacture locally is of the utmost importance, and the fact of its superiority over its rivals should also be a factor in its favor. Motor traction has revolutionised the carrying trade, and brought remote, districts into closer touch with the towns, 'besides being a well-establish-ed means of cartage of goods in the larger centres. For some years the use of motor vehicles for transport purposes has been growing by leaps and bounds, while the number of motor-cars for business and private use has risen far beyond all expectation. It is a blot on the progressivencss and enterprise of New Zealand tha* Instead of developing the rich stores of petroleum provided by Nature, the bulk of the oil for motor power is imported from abroad The Dominion ought to be producing its own kerosene, benzine and other petroleum products and not be relying on an outside supply and be made to pay abnormally high prices. Experience has proved that the mere offer of a small bonus is not effective in properly developing oilfields by private enterprise. The industry requires to lie placed on a thoroughly business footing, and this can only be accomplished by making it n national concern. In making this contention we cast no reflection on the very creditable, though limited, action resulting from private enterprise, but we consider that the time has arrived when there should be a systematic efforts made to thoroughly test the oilheaving areas of the Dominion, especially in Taranaki, in order to establish and maintain the industry as a concern that will add to the wealth of the country and he of infinite service to the people. It is of far greater consequence than the development of hydro-electric power which tlie Government lias carried out. Tn that excellent work of Mr. J. D. Henry, it is stated that New Plymouth "is an oil town in the making, and developments during the next few years should earn for it a leading position amongst the petroleum centres of production in the Empire." The oil is here—and probably elsewhere in the Dominion—awaiting an outlet for commercial use. but only a comparatively small amount is as vet finding its way on the market. This state of affairs should not be allowed to continue when the utmost that can he obtained is so greatly needed, not only for motor traction and lighting purposes, but fov fuel to drive our ships across the sens. The duty of taking this matter in hand and bringing it. to a successful stage is one that the Government should not hesitate to undertake ant] prosecute with energy and .determination, and until they do so they will bo retarding instead of promoting :thc development of one of the richest assets of flie country. Moreover, the profits would go towards relieving- the taxpayers from the burden of the National Debt.