Wairarapa Daily Times [Established Third of a Century.] SATURDAY, FEBRUARY 3, 1912 NEW ZEALAND OIL INDUSTRY.

Wairarapa Daily Times, Volume LXIV, Issue 11264, 3 February 1912, Page 4

Wairarapa Daily Times [Established Third of a Century.] SATURDAY, FEBRUARY 3, 1912 NEW ZEALAND OIL INDUSTRY.

Motor vehicles are being turned out by manufacturers now in such quantities that cars or motor-cycles may bo purchased by a person of quite moderate means, and every year— every month almost—larger numbers are to bo seen upon the roadways. This means that the demand for refined petroleum is rapidly increasing, and tJiat, as tJio demand becomes more acute, the raw product assumes a greater value. The petrol market has developed so quickly that at one time it seemed as if the oilfields of the world could not possibly cope with it; but the rapid opening tip of the known sources of supply served to stave off a famine for a time at least. But realising that the demand must become more acute as motor traffic increases, and as oil fuel comes to be more generally used in the engines of ships and railway trains, the capitalists aro busily searching the world for uew oilfieLds, and, where prospects are in the least degree encouraging, they do not hesituto to invest largesums in the work of development. In this respect, New Zealand lias received a fair share of attention, and it seems quite probable that our oilfields will yet prove an oxtremely valuable asset. The demand must increase, and New Zealand will find, in the Antipodes, a roany and profitable market. Oil-fields have certainly been discovered in the South Sea Islands, in Sumatra, Java and Borneo, and in Burniah; but we are assured by Mr J. D. Henry, the well-known expert, that New Zoalaud will experience a brisk and growing demand at home,

and that she will easily dispose of her J surplus product in Australia, whore ] it will be required for "ordinary commercial purposes, and for the British and Australian Navy, which will presently uso much oil fuel. It was calculated in 1908 that the United States of America supplied more than threefifths of the total amount of petroleum consumed; but this American supply is in danger of exhaustion, and may be reduced to vanishing point by 1985. This fact, and the further fact that the demand is steadily increasing, provide further eviclenco of the value of the Dominion's oilfields. The foundation of a great industry, in which only London and colonial capital is interested, has already been laid in Taraualci, whore oil is gushing from the earth iv half a dozen places at which bores have been made. In Poverty Bay, and tJie Grcymouth district, excellent prospects have been obtained,' and the fields are being carefully investigated by companies with largo capital and honest intentions. If these fields turn out as profitable as those at Taranaki will almost certainly prove to be, New Zealand will, in addition to adding something to her commercial importance, probably receive the attention of the Admiralty. It is a somewhat disturbing fact that only a comparative^ , small proportion of the world's supply of petroleum is obtained from places within the British Empire, these being Canada, Burmah, Assam and certain islands of the Indies. As the need for petrol in the Navy becomes more pronounced, the Imperial authorities are extending over the Empire an anxious -search for suitable sources of supph/. As an oilfield will soon be as valuable as a gold mine, we would like to sec the oil prospects of this district thoroughly investigated ami reported upon. There is no doubt .that the whole district, between Mastertou and the coast, northwards, is petroliferous. Indications of oil and of gas are frequent and pronounced, and it is reasonable to suppose that somewhere in this fairly extensive territory a bore would produce payable results. Mr J. D. Henry recently made tho district a flying visit, and his report on the prospects of obtaining oil in payable quantities was not discouraging: indeed, it rather suggested that further investigations might bo worth while. The establishment of such an industry in the district would mean a very great, deal to this town, and we would like to see some enterprising linn or person move in the direction of having these oil prospects thoroughly exploited