Prospects of Oil in Utah

WHY try to find oil in Utah? Why try to find oil anywhere? Isn't there too much oil already? Answers to these questions involve general oil conditions but are pertinent to my subject. In the first place oil produced in Utah up to the total amount of local consumption would not be subject to nor concerned with the national oil situation. An oil field in this State capable of producing up to 15,000 bbl. per day would have a large value and prompt realization. In the sec¬ond place, there is not too much oil nationally although the markets have been upset temporarily from time to time. Petroleum is so necessary and is in such general demand that an oil field anywhere, anytime, is a valuable and live asset. The oil business in general shows the best condition of any major industry. It has never been hit as hard as most industries and 1932 was a large improvement over its low spot of 1931. It can be and probably will be the one to lead the country back into business stability. Consumption of its products has been reduced less than that of any other important commodity. There are good and valid reasons why it should have been making a normal profit continuously. It has the oil and the processes and the facilities and the policies and the consumption of its products. There is only one reason why it has not been profitable recently and that is the lack of intelligence of from five to ten per cent of the producers. An op¬erator lacks intelligence when he cannot see that it is better for him to sell one barrel of oil at $1 than two or three barrels at 25 or 35c. per bbl.