The Elements of economic geology

Bibliographic data

Monograph

Identifikator:: 1773832379

URN:: urn:nbn:de:zbw-retromon-172798

Document type:: Monograph

Author:: Gregory, John W. http://d-nb.info/gnd/11683014X

Title:: The Elements of economic geology

Place of publication:: London

Publisher:: Methuen

Year of publication:: 1928

Scope:: XIV, 312 S.; graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part V. Mineral fuels

Collection:: Economics Books

MINERAL OIL 277 L 3 a 2 - Ll £ productive, while of these sunk without that advice only 5 per cent. had been productive. Seventeen wells sunk in accordance with geological advice were successful for one sunk at random! The unproductive expenditure in the search for oil is shown by the statement in the Queensland Government Mining Journal (xxvii, March, 1926, p. 85) from “a competent authority,” that in the United States 12 billion dollars have been spent in the search for flow oil, exceeding by four billion dollars the total value of the oil recovered. Although the supply of oil is not assured the temptation to use it regardless of the future is strong because it is such an ideal fuel, being clean, easy of transport, and economical of labour. Light oils are at present indispensable for motor engines, and oil has no rival in lighting isolated houses. Its use for shipping has such advantages that while in 1914 the tonnage of oil-using steamers was 1,310,000 tons, the tonnage had increased by 1924 to 17,154,000. In January 1925, of the shipping then under construction, 60 per cent. were designed for oil engines. The increase of motor traffic leads to increasing demands on the light oils; in 1925 there were 10,054,347 registered motor cars in the United States, and the output of motors in that country in 1926 was 43 millions. The number of motor cars in Britain in 1926 was almost 2 million. With these increasing demands warnings have been often made that the oil supply of the world would be early exhausted. The highest authorities have repeatedly stated that the United States output was at its maximum, and that a serious decline must begin. Nevertheless, to the confusion of the prophets its output in 1926 was its highest, and it provides 70 per cent. of the world’s supply. Similar pre- dictions have been even more positive in regard to natural gas. Pogue in 1921 claimed that the maximum had been passed, and yet the output had increased 60 per cent. by 1924, and has continued to rise slightly. The predictions do not suggest any absolute exhaustion of petroleum because a higher percentage from the oil beds could be won; but these methods involve such increased cost that oil would become too expensive for many uses. In 1917 the rise in oil prices owing to the War led to an orgy of well-drilling

Access restriction

Copyright

fullscreen: The Elements of economic geology

Monograph

Chapter

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation