Will Supplies of Petroleum Spirit Last?
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In considering the question of the available supplies of petroleum spirit and the. enormous increase in consumption which is continually taking place, it is necessary to take account not only of the demands of what are known as pleasure motorcars, but also of the very much larger demands made on the commercial side by vehicles which are used for purposes of commerce and money making. During the last few years the trade has been revolutionised owing to the fact of petroleum being found in very large quantities in different parts of the world, and to the continued developments of sources of supply. For many years the entire world had to depend upon supplies obtainable only in America, and at the present moment the production in that country of petroleum spirit is estimated to be about 600,000 tons a year. With the discovery of new fields in America— in Texas, and latterly in Kansas and California—it is confidently anticipated that there will be an increase in the available supplies of benzine from American sources; but, unfortunately, the quality of these new fields is not as satisfactory as would have been hoped for, especially owing to their disagreeable odour and evaporative qualities, more especially of the Texas production. There is no doubt, however, that the consumption in the United States will in the course of a few years absorb the increasing production which they have succeeded in obtaining, and it is anticipated that the American producers will not have more available for export than they have at the present time, so that consumers will have to look to other sources of supply. The next market which became available for supplies was the Grosny Oil Field, but here the quantity of petroleum spirit is not of any consequence—at least so far; and the quality also is of a heavy description with a very high evaporating point which renders it difficult in use for motors ; in practice it has proved to be unsuccessful, at least for this purpose; but there are many other purposes for which it can be used, and which will enable other descriptions with a lower evaporating point to be diverted for the purposes of motorcars.
We next come to the other European fields, those namely in Roumania. Here the production is in the hands of powerful companies, and according to all the reports there is a very large oil-bearing territory which is being steadily developed. The yield of petroleum spirit from this oil is about 25 per cent., and as the territories are of immense extent it is only a question of price as to whether the companies will develop the enormous sources under their control as quickly as may be desired. Of course, the prices ruling at present would not encourage them to work with any degree of exertion, but there is no doubt whatever that supplies exist in large quantities; the quality is quite equal to the best American in the market for purposes of motor traction, and the port of shipinent gives every facility for cheap transport. From this source districts in the South of Germany and in the East of Germany can be supplied at very much less cost than from the States of any other market. As the quality of the Roumanian spirit is very satisfactory, the production can be made anything that the trade requires, but as already pointed out the prices would have to advance to induce larger developments.
The next great source of supply in Europe is Galicia. Here again, we have some large deposits, but they are very inaccessible, and, considerable improvements will have to be made in transport facilities to bring this supply within the reach of consumers. The quality is satisfactory for commercial purposes, although not quite so high as that of the Roumanian spirit; but no doubt for Central Europe and
Austria-Hungary very large supplies can be had from this source which will provide for all the requirements of the district which can be served economically from this centre; and from the attitude that the Governments on the Continent have taken up it seems probable that everything will be done to improve the transport facilities so as to encourage the development of these sources of supply. Of course, this Galician spirit cannot be laid down in the markets of this country unless at higher prices than at present ruling, and we shalt have, therefore, not to rely upon this spirit for the markets of the United Kingdom and France, and some other countries in Europe, though it is always a reserve to fall back upon should the other sources of supply decline—an improbable contingency, by the way.
We now come to the supplies of Asia. Here we have probably the most prolific fields in the world, the fields of Sumatra and Borneo. The oil produced in these countries has a peculiarity which does not exist in any other oil-producing territory. Whilst the specific gravity (especially of the Borneo oil) is very great, the evaporating point is very low, and with this distinction the petroleum spirit that is produced from this oil is the most valaiable for the purposes of motors. The cost of production is small, and the transport, which is done by large ocean steamers round the Cape of Good Hope, enables this spirit to be laid down in this country at a price not exceeding that at which it can he laid down from the United States. The spirit being virtually a by-product, before the introductiort of motor vehicles the companies were destroying it, using it for fuel and other purposes. The properties of this spirit, especially the Borneo spirit, have proved to be most valuable, and in use it is far more economical in all descriptions of motor vehicles than any of the lighter gravity spirit ; indeed, it is only a matter of time before this heavy spirit will be asked for by the trade in preference to any other. The supplies of both the Sumatra and the Borneo fields are virtually unlimited according to the reports of geological experts, some of the wells producing fountains of considerable dimensions; and at the present time the supplies are in excess of the demand, and the producers in these territories are compelled from time to time to cease work owing to the large quantities of stock which they find it difficult to dispose of.
The Sumatra spirit has already obtained a wonderful reputation in this country, and also throughout the whole of Europe, and in all cases where it has once been introduced users have been loth to take anything else. The reputation of the heavy Borneo spirit has been so successful that at the present tine---perhaps the first titre in conufnercial history—coals are being taken to Newcastle, or, in other words, Borneo heavy spirit is actually being shipped to the United States of America. There are at the present time two cargoes of this spirit on passage to Philadelphia, and we understand that there is likely to be a very large demand in the United States for further supplies of this description. The producers of this spirit are not surprised at this extraordinary demand, as they have always confidently believed in the superiority of a natural heavy spirit with comparatively low evaporatirT; points, as more power can be got from the same quantity than with the lighter spirit; and more efficient working, especially for the heavier classes of motor vehicles.
As to the continuance of supplies of Eastern spirit, there can be no doubt that there will be a sufficient supply from this source, so far as human foresight can judge, to last for very many years; and, the facilities for the transport being great, its use should tend to increase.