Possible Existence Of Deep-Seated Oil' Deposits On The Gulf Coast

THE discovery of oil in 1901 on the Spindletop dome, Texas, inaugurated a new industry on the Gulf Coast, an industry which has grown with the discovery of successive fields, until today it engages the services of thousands of workers and employs enormous capital. New fields are being discovered from time to time and doubtless some still remain to be found, though of late years discoveries have become more infrequent. Nowadays several hundred dry holes are drilled each year in a fruitless and blind effort to discover new fields, for as yet geologic science has developed no effectual method of locating the coastal oil deposits in advance of drilling. Moreover, despite the occasional discovery of new fields, the total production of the Gulf Coast is today no greater than it was in 1906, for the added production of the new fields has been offset by the rapid decline and more or less complete exhaustion of some of the older ones. Careful geologic work within the fields has in some cases increased the production temporarily, but has developed no really new supplies. The Gulf Coast oil industry seems to have passed its period of greatest expansion and to be declining at a fairly steady rate, and this condition is naturally viewed with alarm by the more farsighted operators. In my opinion, the time has come for the adoption of radical and aggressive methods of prospecting, and a fraction of the money wasted yearly in drilling shallow wells in hopeless locations might well be devoted to this purpose. Many facts lead me to believe that all the salt-dome oil has had a common origin; that it has migrated up from considerable