THE Wairarapa Age MORNING DAILY. SATURDAY, AUGUST 23, 1913. THE OIL INDUSTRY.

Wairarapa Age, Volume XXV, Issue 10713, 23 August 1913, Page 4

THE Wairarapa Age MORNING DAILY. SATURDAY, AUGUST 23, 1913. THE OIL INDUSTRY.

The existence of {petroleum oil in New Zealand in paying quantities has now been practically established. The refining industry in Taranaki will enable us to judge in a very short while whether the petroleum can be profitably treated. Experts who have visited the Dominion from the old world are satisfied that oil exists in many districts of the North Island, and that it only requires the judicious expenditure of capital to develop the area.s and make them immensely productive. It would seem that just now we are on the verge of an oil boom throughout the world. The "Petroleum Review," of June 28th, says:—"The 1 enquiry in London for oil-producing concerns for flotation, purposes, the demand for promising areas of virgin character the world •over, combined with the energy which is being displayed in the registration of new oil companies, suggests in itself that an oil boom is in the making, and when it does come, it is bound to. be of a remarkable nature. In times past, we have seen several oil booms, but at the best these have been only limited to certain fields or districts. There was the boom of the Texas fields ten years ago, there was the mild Roamanian boom, and at a still later date there was the Maikop boom. The coming oil boom, however, will be distinct from these several predecessors, inasmuch as it will embrace practically the two hemispheres, for we know that to-day numerous flotations are ready for publio issue, whose assets will cover nine-tenths of the oil-producing and oil-promising regions of the world. Nor can it be said that there is nothing to warrant activity in petroleum enterprise® at the present time; on the contrary there is ample juetifica-l tion far a great feoom of oil in th^s

country. To-day oil ia king, for without the various products from I crude oil, the hands of progress would be perceptibly set back. Take the caso of illuminating oil. What prestige kerosene has lost aa a lighting agent hag been more than made good by the great openings which have been found for it as a power agent. In this respect, it even threatens to take some of the preserves from other motor .spirit, for under slightly different conditions it can be very satisfactorily utilised in the modern internal combustion engine. Again, the popularity of the latter has brought with it an ever-increasing demand for high-class lubricating oil, the consumption of which in this country lias never previously reached the proportions of to-day. Then we have liquid fuel, which is now making a bold bid for popularity the world over. On sea ag- on land, liquid fuel is slowly, though none the less certainly, displacing coal, and the fact that it has not so far been more largely adopted is due solely to the ever-present fear on the part of would-be consumers that the output of liquid fuel is not equal to the near future consumption. The greater the production of crude oil, the more extensive will be the demand, and from what we already see around us, it will be many a long day before production becomes seriously ahead of consumption. Thus there is every justification for new* enterprises to oominto the production of crud| oil," and every reason to believe tSiat provided experience and oare lies tfehind their operations, they, will be very successful." •