TARANAKI OIL.

Taranaki Herald, Volume LX, Issue 143766, 15 April 1912, Page 2

TARANAKI OIL.

THE POSSIBILITIES OF PETROLEUM.

It is plain that the Taranaki (N.Z.) Oil Wells, Ltd., whoso prospectus is now before the public, is a corporation with ■ big things in hand. There is abundant petroleum in Taranaki, and the company has over 300,000 gallons of it *■ already stored. The uses of petroleum seem to be endlees. Every new modem development increases the demand for petroleum in one or other of its forms; Each motor-car produced stands fort so much more petroleum to be devoured. Every new machine and engine made in tho workshops of the world means—more petroleum.

Here people are cheerfully eng,aged in speculation on what they consider a certainty. The Taranaki (N.Z.) Oil Wells, Ltd., is not gambling. It knows how much oil it canvget, on the lowest estimate; it know® bow much it will cost to get the oil, and how much tho oil is worth. Taranaki petroleum' has certain excellent and exceptional qualileum in paraffin wax, ana is therefore the best oil known. Consequently, it should always command the highest' price in the market. ! When the more valuable qualities or substances have been extracted, it is excellent for liquid fuel; and the demand for liquid fuel increases every day. The Admiralty is already looking for further supplies in British dominions. Great mercantile shipping concerns, too, are fitting their steamers to burn petroleum. Even our own splendid organisation, which ia ever up-to-date, the U.S.S. Co. of N.Z., Ltd., is haring oil furnaces placed in> its latest magnificent steamer, a 13,000ton vessel. At first they are to be used in combination with coal furnaces, but ultimately it is expected that petroleum will prevail universally for .steaming purposes. In fact, there ie no doubt about the market. The Taranaki (N.Z.) Oil Wells, Ltd., should easily bo able to sell every gallon of its oil. But there is more than that. It will sell its oil under conditions of peculiar advantage. Its wells are situated at New Plymouth, convenient to the harbour. Tank steamers can be loaded cheaply, without delay and without waste. Hero ia the natural source from which the whole petroleum supply of Australasia should be drawn. Taranaki Oil is what the Americans would call a gigantic proposition.