EDITORIAL COMMENT. Unknown Oil Wells at Taranaki.

Progress, Volume V, Issue 6, 1 April 1910, Page 187

EDITORIAL COMMENT.

Unknown Oil Wells at Taranaki.

In another column we give some account of the wells of Taranaki, as well as pictures of the plant and scene of operations. It will be seen by readers of Progress that the industry is in a more promising condition than it has ever been m its history. Some years ago the only result was rank failure. But to-day the perseverance of the true believers, if it has not been crowned with success, has come not far from the success which its efforts have undoubtedly deseived. At aU events, the whole business now wears the air of something not far from a settled industry The fame of the wells, even if they are only prospective, has got far beyond the boundaries of "the Dominion. A cable message during the middle of the month speaks of inquiries received from London and prospects of purchase. The story reminds us that the Admiralty is said to have made up its mind to abandon coal for the navy and take to petroleum to drive the King's ships, as those of the Czar are driven in the neighbourhood of the Baku oil district, and as many ships are driven now all the world over. There are many advantages in favour of the newer fuel, the chief of which is that there is less chance of damage from labour disorganisation. Oil flows of itself to the surface or has to be pumped with a minimum of labour. But coal must be won by hands, and the owners of the hands are now displaying some rare powers of "sticking up" the whole business of the world for their own ends.

Without going mto the controversy that rages round that point, it is easy to understand that this is a power most inconvenient to a nation dependent upon its fleet for the very life of its people Of what use is it to build Dreadnoughts and submarines and torpedo hoats and cruisers if there is no coal for driving them. At the critical moment there may be a strike of colliers, nnd the whole fleet of a country may be paralysed. Wha; would be the feelings of the nation if two announcements appeared suddenly in the morning papers, one of a coal strike, and another of the German Fleet racing across the North Sea. bound for <•) British port" Of course the Admiralty keeps a stock of coal for emergencies The nation would not. therefore, be in a panic at the double announcement above mentioned But there would be dire fear lest the supply gathered by the Admiralty might not be sufficient for the needs of the coming war. As it would be impossible to replace the miners at a moment's notice, for mining is a skilled profession, there would be no telling what a few weeks might bring forth. On the whole, the decision of the rulers of the King's Navee to use oil fuel as much as possible is commendably prudent. It is probable enough that the recent request for information come? from the Admiralty. It is possible at the same time that it may have come from some German or American house. Although Rochfeller seems to have got tired of the monopoly of piling up dollars through the oil pipes of his gigantic concerns-, it may be regarded as tolerably certain that the others of the gang who have been bleeding the American people and the world for some years are determined to enjoy their repasts some time longer. At any rate, they are go-ahead enough to see great possibilities for this oil business opening out in this new and faroff country. It has been their habit through life never to neglect the prospects of rising fields. If the Germans were to get possession, there would be no fuel for the Admiralty when occasion arose, except on the terms dictated by the Kaiser. If the Americans got ahead first there would be exploitation of the national resources by strangers for strangers. It behoves the Government of the Dominion to l keep i a wary eye and to advise all concerned that they shall touch these walls at their peril. A great national resource ought not to be allowed to pass out of the hands of British subjects. That can not be prevented now. The only resource would be the imposition of such taxation as would make the holding of the property

financially impossible. By the time the Parliament meets it will be possible to go by a shorter and better road, nimel), by the passing of an Act prohibiting the sale of national property to foreigners under any pretext whatever.