Indianapolis Times, Volume 39, Number 237, Indianapolis, Marion County, 10 February 1928 — Page 13

FEB. 10, 1928

GAS PRICE MAY GO PAST PURSE OF GAR OWNER Famine In Oil Fields Seen in Not Distant Future by Experts. Today Hie Times presents the first of a scries of comprehensive articles on the oil crisis, here and abroad. In the following article Rodnev Dutcher. Washington correspondent lor The Times and NEA Service, shows why an oil lamlne is threatening America. BY RODNEY DUTCHER NEA Service Writer (Copyright, 1928, NEA Service, Inc.) WASHINGTON, Feb. 10.—Some day we -will have an oil shortage in this country and the price of gasoline may rise so high that few of us will be able to keep our automobiles. When that period of oil and gasoline famine will begin—whether in a few years or twenty—nobody knows. But It will begin as soon as our consumption begins to outgrow the supply and it will be hastened as the potential new oil fields of this country begin to give out. More than a year ago the President’s Federal Oil Conservation Board estimated that the Nation’s available known oil reserves amounted to about 4,500,000,000 barrajs, a theoretical six-year sup--1%. Condition Will Not Last 1927 we took 900,000,000 barrels from the ground at the approximate rate of 2,500,000 barrels a. day. There was a large overproduction as a result of discovery of the great Seminole fields in Oklahome, and we continued to export more oil than we imported. But this condition is not likely to last long, for there have been recent years when consumption exceeded the output. Toward the end of the year the Seminole production dropped from 500,000 to 200,000 barrels a day. While we are producing and selling our oil almost as fast as we can get it out of the ground, other nations are hoarding theirs. Reserve High in ifillions The best “scientific guess” available is that foreign oil reserves amount to more than forty billion barrels as compared to our five million or less. Yet, we are pro-

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ducing more than 70 per cent oi the world’s total production! This means, or appears to mean, that before long we will be buying the bulk of our oil from foreign lands and that we may be at their mercy many decades before the world supply is exhausted. Two-thirds of our oil reserves, according to the Federal Oil Board, have been exploited. We have taken 10,000,000,000 barrels of oil from the ground, five billions of them in the last six years. The remaining one-third of unexploited reserves may produce more than five billion barrels and it may produce less, for no one knows how much oil will come out of an undrilled well. This nation uses nearly 1,500,000 barrels of oil a day and consumption constantly is increasing. In 1926 the new supply showed a gain of 2 per cent, while the domestic demand increased 7 per cent. Overproduction, of course, altered these figures for 1927. Our demand for oil and gasoline

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has trebled in a decade and doubled in four years. Figures for gasoline are 128,000,000 barrels in 1922, 260,000,000 in 1926, and 300,000,000 in 1927. After demand definitely passes production, many experts believe the price of oil and gasoline will soon be more than doubled. This not only will affect the owners of 25,000,000 automobiles in the United States, but it will mean much added expense to nearly every industry—especially to users of oil furnaces. Wells Short Lived As demonstrating the nearness to conditions of domestic shortage, it was estimated that as much as 100,000,000 barrels would be taken from stores above ground to meet the demand in 1927. Overproduction avoided that necessity. Oil wells, at best, produce at maximum capacity for no more than three years. There are wells in Pennsylvania, for instance, which once produced 500 or 600 barrels a day, compared with perhaps a daily barrel now. The whole subject is admittedly so conjectural that no one can say when new wells will stop coming in. If we knew’, something probably would be done about it, but today the authorities on the subject advance opinions ranging all the way from the belief that we will have a definite oil famine in two or three years to the theory that the supply will last forever. NEXT: The effects of a national oil famine.

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THE INDIANAPOLIS TIMES

Gloria Real Comeback; Whole Status Changed

Pioneer of Moviedom, Near Ragged Edge, Regains Her Balance. BY GENE COHN NEW YORK, Feb. 10.—Over night the entire status of Miss Gloria Swanson has changed. I do not think I betray any deep sutdio secrets when I say that all has not been w’ell on the Sw’anson lot. I do not think that any number of fans will be surprised when I add

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that the very future of this popular pioneer of moviedoom has been hanging in balance; that there has been a serious question of which way she might turn if all did not go well with her latest picture; that she lost a considerable fortune on her “Loves of Sunya” and was reported dickering with the bankers for future film flotations; that there w r as a serious prospect of her severing with United Artists, according to the best gossip and rumor. No Better this Year But that’s all over. After "Sadie Thompson” no one will question “glorious Gloria.’’ After “Sadie

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Thompson,” United Artists will stand at attention—if it has any sense. For Gloria has proved what a lot of us have known for a long time—she’s just about the finest feminine performer in the films, when she wants to be. Or maybe it’s when she gets a chance and a picture. For you will see no better screen acting this year or last year than Miss Swanson. Something happened to Gloria in this picture. Maybe it was because the picture allowed her no elaborate wardrobe in which to preen and strut. Falls Back on Self Maybe it was because, aided only by the cheap finery of a “tough gal” and the tawdry bathrobe of a South Sea island boarding house, she had to fall back on herself. There is nothing to decorate

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PAGE 13

Surely no one can quibble or gossip over Miss Swanson’s future now. Her tiny feet are solidly upon the ground. Her performance is unforgettable—abeautiful job!