Future of Our Oil Supplies Assured by Technology ? Fall of Germany Should Give Civilians More Gasoline and Longer-term Prospects Are Favorable

TO show the vital importance of our future oil supplies to our economy, I will merely point out that this country, with something like 15 per cent of the world's land area and something like 7 per cent of the world's population normally uses between 65 and 70 per cent of the motor vehicles of the world, between 65 and 70 per cent of the world's rubber, and produces and refines between 65 and 70 per cent of the world's petroleum. Despite all the arguments as to which is cause and which is effect, all will agree that all three of these important industries are mutually dependent. If we had not been able to produce 65 or 70 per cent of the world's oil in this country we would not have the degree of mechanization, or the efficiency of transportation, or the high industrialization that we enjoy. Furthermore, the fact that oil has been plentiful and cheap has had a tremendous effect on all the things in which we as engineers are interested. For that reason, if for no other, it is well to look ahead to see what the outlook is for the near and far-distant future.