RI 2255 An Unusual Hazard in Reopening Long-Flooded Timber Metal Mines

"The recent discovery and exploitation of petroleum territory have resulted in the enactment of new petroleum laws in most of the South American Republics. The activities in the discovery of these new fields were engendered by the knowledge of the fact that present producing fields must within well defined periods be exhausted. Oil operators were willing to take the initial steps in exploitation in the absence of legislation that applied strictly to petroleum operations. The enactment of modern legislation in many of these Republics encouraging and protecting exploitations may cause tremendous oil activities in these countries, and the results may be comparable with the magnitude of the undertakings and the prestige of the companies now entering this territory.These, oil fields are admirably located for convenient distribution of petroleum by water to all the Nations using oil as fuel for shipping and industrial concerns. The oil markets of the western coast of South America will derive immense benefits from the Panama Canal. This navigation route brings these markets into direct ocean shipment with the Atlantic coasts of the Western and Eastern Hemispheres.One deterrent to oil production in the Republics of South America is the want of inland. transportation facilities, but the recent laws of these Republics without exception provide for acquiring rights of way for pipe lines and other modes of transportation; and doubtless the great interests and. syndicates already operating in these regions will, as production increases, provide ample pipe line transportation sufficient to convey to the coast the oil produced. It way be assumed, from the legal guarantees afforded, and from operating equipment and machinery that are now being concentrated that refineries will be erected at shipping points for the purpose of making these petroleum products accessible to the world."