SEARCH FOR OIL

Evening Star, Issue 22721, 7 August 1937, Page 22

SEARCH FOR OIL

GOVERNMENT PREPARED TO SPEND £500,000 FH» Will BEL9M TB FEWLE [Pbk Ukited Press Association.] , 'NEW PLYMOUTH, August 7. “ I-am confident that within the next 12 months we will be making the most serious efforts ever made in the search for oil in New Zealand/’ said the Hon. P. G. Webb (Minister of Mines), in the Course of. .a civic reception), at New Plymouth this’morning. “ Every large company has been told that unless it is-prepared to search for oil with the most modern appliances m the world the Government will take a hand; in the matter. ,1 would not hesitate about asking the Government not for £IOO,OOO, but I would take the nsfc of asking for £500,000. If we spent £500,000 in the search for oil, and the indications were such that we Were justified in spending- £500,000 or even £1,000,000, then : that money would have been well spent, because once;we get a flbw of oil it is going to be a great asset.”- , The Minister. said he was .very impressed with the oil prospects in Taranaki. “We have a Bill to come down/’ he proceeded, “ which provides that if oil is discovered it will belong to the people of this country, and no company. ■ If we can produce petrol it will be refined in this country.”, ~ , He added, however, that every assistance would be given companies prepared to drill for oil, and he was sure that inside probably the next year there would be drills finding their Way very deep in the search for oil.