QUEST FOR OIL
AMERICAN INTERESTS VENEZUELA GROWTH (Special to the Herald.) AUCKLAND, this day. Business Conditions in the United States' of America have shown considerable improvements, according to Mr. G'. S. Walden, the chairman of the board of directors of the Standard Vacuum Oil Company of New York, who arrived in Auckland by the Niagara yesterday from Vancouver. He said that the trend was reflected in the industrial situation where a number of industries, including steel works, were exceptionally, busy. In spite of the fact that tho consumption was in excess of 3,000,000 barrels each day, oil production in the United States was keeping pace with the demand.
However, a search for further supplies, Mr. Walden added, was being made over a wide area and promising fields had been located in South America, including Venezuela, which now ranked third in the list of oilproducing countries.
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Bibliographic details
Poverty Bay Herald, Volume LXIV, Issue 19315, 4 May 1937, Page 5
Word Count
145QUEST FOR OIL Poverty Bay Herald, Volume LXIV, Issue 19315, 4 May 1937, Page 5
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