Photograph from Arthur C. Veatch 



ENGLAND S DISCOVERY WELL 



Located in Derbyshire by an American geologist, drilled by American engineers and 

 skilled workmen, with American machinery and well supplies, this all-American well struck 

 oil in England almost exactly 60 years after Drake discovered oil in Pennsylvania. 



control of an oil supply adequate for the 

 nation's needs. John D. Northrop, in a 

 review of the political and commercial 

 control of the petroleum resources of the 

 world, thus sums up the British position : 



"The strength of Great Britain's present 

 position in the world's petroleum affairs 

 lies in a strong governmental policy in the 

 matter and in the wide scope of British 

 petroleum investments, embracing practi- 

 cally every country of which petroleum is 

 an important product and nearly every 

 country of which it is a product of poten- 

 tial importance." 



Not only do the British oil companies 

 rejoice in such suggestive names as "Brit- 

 ish Controlled Oilfields," but at the stock- 

 holders' meetings the policy is stated in 

 plain language as providing the safeguard 

 of a voting trust so that no financial con- 

 trol "can divert even a single barrel of 

 oil from national or imperial require- 

 ments." 



It is easy to see that Great Britain's 

 world-trade policy has given oil this "im- 

 perial" recognition ; and when we picture 

 the return of the American flag to the 



seven seas, we too must plan for an oil 

 supply available wherever needed. Any 

 nation which today aspires to a large part 

 in world commerce imposes upon itself 

 an oil problem, for the future freedom of 

 both the sea and the air will be defined 

 in terms of oil supply. 



AMERICAN SHIPS AND THEIR APPETITE 

 FOR OIL 



The new demand of our shipping pro- 

 gram alone involves fuel oil in quantities 

 equivalent to nearly one-half of the pres- 

 ent domestic output, and, unless there is 

 some corresponding decrease in other de- 

 mands, this new requirement must be met 

 with an increase in production of crude 

 oil of nearly 200 million barrels. 



The United States shipping program 

 further calls for a chain of oil stations en- 

 circling the globe. The Shipping Board 

 has already announced that the first steps 

 have been taken to establish fuel stations 

 along the trade lanes as well as at the 

 world's cross-roads, and thus to assure 

 unrestricted operation of our ships in the 

 world's trade. 



