Democratic Sentinel, Volume 2, Number 3, Rensselaer, Jasper County, 1 March 1878 — The Petroleum Trade. [ARTICLE]

The Petroleum Trade.

The petroleum production of this country is largely on the increase, as the facts and estimates recently made by the Engineering and Mining Journal sufficiently indicate. The following are the figures: 4 PBODUCTION FOB "1876. • : Barrels. Pennsylvania oil fields proper.. .8,968,906 West Virginia (estimated)., 120,000 Smith’s Ferry and Ohio' (estimated) 55,010 California (estimated). 32,000 T0ta1.•9,175,905 PRODUCTION FOB 1877. Barrels. Pennsylvania oil fie1d513,135,671 West Virginia (estimated) 172,000 Kentucky and Tennessee (estimated) 73,000 California (estimated) 73,000 Ohio (estimated)- 36,500 T0ta1.18,490,171 The increase of 1877 over the year previous foots up to the enormous amount, of 4,3,14,262 barrels, or a daily increase of 11,811) barrels. The exports of oils in barrels, equal to fdrty-two gallons of etude oil each, amounted in 187 G to 7,497,856, and in 1877 to 10,425,502, showing an increase of about 3,000,000 barrels. ' Not the least remarkable fact in the petroleum business was its opportune discovery as an illuminator at the very time when the whale fishery began to seriously decline, and it is difficult to imagine anything more convenient or better for the purpose for which it is now so generally used.