Word: petroleum
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Dates: during 1930-1939
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Some 800,000 acres of shale oil land in western Colorado, owned by all the U. S. people and said by the U. S. Geological Survey to contain 40 billion barrels of petroleum (value: $1 per barrel, minimum), loomed more and more clearly in the public prints last week as an interesting national possession, also as the focus of an alleged national scandal. Ralph S. Kelley, the Interior Department's field chief at Denver, last fortnight resigned his post, loudly protesting that Secretary of the Interior Ray Lyman Wilbur was not taking proper care of all the people's great...
Worthless? Because no cheap method has yet been devised for extracting oil from the tough dark shale of Colorado, geologists estimate the production cost of such oil at $3 per barrel, as compared with current petroleum prices of $1 per barrel. Oil companies with foresight, however, have bought up Colorado shale land from original prospectors on the theory that eventually a cheap extraction process will be found. Denver records show the following holdings: Standard Oil of New Jersey, 20,000 acres; Union of California, 18,000; Continental, 10,000; Texas, 10,000; Prairie, 7,000; Deep Rock, 4,000; Pure...
...public may not know that there is situated upon the public domain in Western Colorado an immense oil reserve . . . of approximately 800,000 acres in which the oil occurs in a rock called shale. . . . This oil field contains more than 40 billion barrels of petroleum of a potential value ... in excess of 40 billion dollars, equal to about one-tenth the entire wealth...
...long ago learned to lay great lengths of pipe overland to transport water, petroleum, natural gas, sewage. Georges Claude of France is the prophet and pioneer of laying great lengths of pipe on an ocean floor, to conduct seawater from the cold bottom to a shore station. Professor Claude believes that power can be generated at unheard-of cheapness by utilizing the temperature differential between the cold bottom-water and water from the ocean's surface warmed by a tropic sun. Twice he has tried and failed at Matanzas Bay, Cuba, to lower a mile-long pipe six feet...
Standard of New York. Through its subsidiary, General Petroleum Corp., Standard Oil Co. of New York is potent on the west coast, has strengthened its position through the purchase of many a small independent marketer. Last week General Pete acquired A. M. Mortensen, Inc., large distributor of San Jose, Calif. Brand name of General Pete's gasoline: Violet...