The Daily News. THURSDAY, MAY 11, 1916. PETROLEUM AND IRON.

Taranaki Daily News, 11 May 1916, Page 4

The Daily News. THURSDAY, MAY 11, 1916. PETROLEUM AND IRON.

Two of tlie greatest and most pressing needs of the day are petroleum and iron, and both of these are existent but undeveloped in -New Zealand. The position with regard to petroleum is mainly connected wit'h the supply of petrol for producing motive power by means of internal combustion engines, such as motor cars. Within the last twelve months the price of petrol ha 9 doubled in the United States and proportionately increased elsewhere, and the outlook has become extremely serious owing to the existing supply having reached its maximum, while the demand is increasing by leaps and bounds. Under such circumstances it is to be expected that the dominant refining companies will take care to reap as rich a harvest as possible, for it is in their power to fleece the consumer at will, and, knowing what we do of t : he methods of this powerful ring, it will be as well to be prepared for the turn of the screw 'or squeezing out phenomenal profits. Motor vehicles pre now regarded as business necessaries, and the numbei of these modern means of transport is now so large in every country in the world that the fuel problem bids fair to become literally a burning question. The only possible remedy is the discovery and development of new supplies, and it is in this connection that the Government of New Zealand should display an intelligent activity. It seems from a business point of view absolutely incredible that such an important and profitable asset a* petroleum should not long since have been established as a national industry, instead of being left to She restricted efforts of private enterprise, which, so far, has achieved hut comparatively small results. A systematic and determined exploitation of the oil bearing areas of the Dominion, especially those in the vicinity of New Plymouth, lias been urgently needed for many years past. Private enterprise 'lias done the pioneering work and proved the existence of oil deposits, but there has been no thorough testing of the ground such a? is imperative if a satisfactory supply of oil is to be obtained. That the work entails heavy expenditure makes it all the more necessary for the State to undertake the outlay and reap the reward for its enterprise. In view of the petrol famine that seems to be imminent, ag well as 011 the ground of national needs, the Tiovermnent should no longer hesitate to embark on a policy that should have for its object the thorough testing and development of the oil fields of the Dominion. With regard to the iron industry, the important announcement contained elsewhere in this issue as to the definite decision of the New Zealand Iron Ore Smelting and Manufacturing Company to erect works at Moturoa will be received with much gratification. There is no question of an ample supply of ironsand in Taranaki, and of iron ore at Parapara, and under skilled and economic management the industry should not only flourish, but form in- inestimable boon to the Dominion. The more the natural resources of the country are developed the nearer shall we approach to the attainment of the object at which every country should aim—that of being as far as possible self-contained. What Taranaki requires (0 ensure its absolute prosperity and u\pansion is t'he establishment of industries of a permanent and profitable nature, and if only the oil and iron deposits are adequately exploited it will mean a future that will raise the province to the highest pitch of productivity, while increasing the welfare of the Dominion.

1 tinuous efforts of the infantry have all been in vain, the latter being unable to hold the ground cleared by the hurricane of explosive sheila. It is almost nauseating to read the cables describing how wave after wave of the enemy have been mown down in heaps over which the subsequent waves had to travel, and all these lives sacrificed uselessly. The struggle may well be regarded as Germany's supreme effort doomed to failure. Nor has the enemy fared any better further north against the British lines. The latest cablea seem to indicate mat the Allies are not only able to resist the furious onslaughts of tile enemy, but to take the offensive when opportunity occurs. It is evident ti at the complete unity of action which exists among the Allies is having a marked effect, and that all arrangements for a concerted move have been made. This may probably account for the presence of the Anzacs and the Russian.! in order that they may all take part in the turning move of the war. Genera! Jcffre's policy has borne good fruit, and the marvel is that the astute German staff should not long since have recognised that they were playing into the hands of their opponents, but they are so obsessed with the idea of their invincibility tlmt nothing short of a decisive defeat will dispel the illusion. Verdun has proved to be the grave of German hopes, and shoulc] also prove to l>s the springboard for the Allies' final success.