PETROLEUM. 
39 
no dearth of the latter, as they, or at least gasoline, must be turned 
out in quantity to support a growing production of fuel oil. This is 
why there has been no shortage of motor fuel at a time when there 
was a shortage of fuel oil. This also explains why it would be unwise 
to cut down in the use of unessential automobiles at the present time 
as a measure of petroleum conservation; that action would merely 
destroy a market for gasoline, which now supports the price-structure 
of petroleum, without being able to materially increase the bulk of 
the fuel oil turned out. With increasing stress, however, it may be- 
come necessary to pare down on gasoline consumption, but only as an 
accompaniment to a similar procedure for fuel oih 
The stimulation of domestic petroleum production to the utmost 
degree, the alleviation of labor difficulties and shortage of materials 
affecting oil-drilling, and the solving of shipping problems concern- 
ing coastwise and Mexico-to-United States movements of oil, are all 
matters of the greatest importance, which are receiving the active at- 
tention of the Government. It is not the function of this paper, 
which is concerned with a general economic study of the resource, to 
treat of these matters or presume even to suggest wherein the solu- 
tion of the current problems lies. The war situation is here touched 
upon only in the belief that it illustrates unmistakably the unsound- 
ness of the loose way in which the resource has been drawn upon, and 
points to the necessity for measures, not merely of alleviation, but of 
reconstruction in regard to the exploitation of the resource. 
4. THE PROBLEM. 
Sufficient, perhaps, has been set forth to indicate that the petro- 
leum industry is not a separate activity to be dispensed with if neces- 
sity arises, but that its products are essential to the vital needs of the 
Nation. Indeed, it would scarcely be too much to say that the whole 
future of civilization depends upon a continued supply of motor 
fuel and lubricating oil, while the oil by-products potentiality holds 
out the prospect of presenting to the world, through the energies of 
this country, a gift even greater than kerosene has been. It would 
appear to follow, therefore, that these affairs should not be ham- 
pered or curtailed, if in any way the resource or its equivalent may be 
made to carry the responsibility well into the future. It is a matter 
of universal concern, then, to inquire if the impending exhaustion 
of the resource may be circumvented by modern scientific and tech- 
nical knowledge ; and if so, to ascertain the best procedure whereby 
this constructive force, as yet not fully used in this country, may be 
brought into effective action. 
Granted that curtailment of activities fundamentally dependent 
upon petroleum is undesirable , 1 we may pass in review the means 
1 This does not apply unqualifiedly to fuel oil used for steam-raising purposes, as 
shown on page 33. 
