Petroleum Legislation and International Regulations

IT IS doubtful whether anything new can be said upon this subject and, therefore, it is with considerable hesitation that l prepare this paper. On account of my recent connection with the Department of State as its law- officer, perhaps I will be pardoned if I discuss this subject briefly from the point of view of that branch of the Government. , I cannot, of course, speak for that department, since I have-no connection with it at-present, but it may be helpful if I set down certain* of the factors which in my opinion and from my experience have a bearing on this international problem. With oil-burning ships, motor vessels, motor vehicles, airplanes-all consuming, astonishing quantities of petroleum or petroleum products; with the United States having within its borders only 12 per cent. of the petroleum resources of the world, and consuming about 70 per cent. of the world's output; with the more enterprising nations wide awake to the necessity ; of obtaining and preserving as large a share as possible of the oil resources extant ; the 'problem is peculiarly and in a, very practical sense an international one.