Petroleum - Technologic Progress in the Oil Industry

As an industry approaches stabilization, greater and greater stress must be laid on its technologic progress, which becomes a prime aid in improving its condition. The oil industry is tending toward this stage and hence its engineers must be pressed into greater service to prevent stabilization and stagnation from becoming synonymous, and to supply, either by improvements in processes or by new machinery, a means of obtaining savings in raw and finished products. Thus profits can be assured warranting continued investment. It may be repeated, technology must apply a slight improvement here, a change there, or a complete renovation, to eliminate inefficiencies and make each dollar invested yield greater results. The profits of ycstcrday were made of rich strikes, of monopolized patents or processes, of control of prices and of markets. Sixty-five years of growth, of large investment, of healthful competition, and of expanding markets, have put the oil industry in the foremost rank of world industries. .Just as the railroads passed a similar period of expansion and growth, and arc being stabilized with reasonable profits, so the oil industry must take advantage of the efforts of its engineers and experts to promote its healthful growth and a better service to the people. Herein is attempted a review of recent progress in which is presented the advances in exploration, production engineering, transportation, refining and greater efficiency in uses of petroleum, with a view not only to stressing important new processes and methods, but also the problems that press for solution. This review can only touch outstanding developments of recent years, but the several Petroleum Division symposiums of our program will present details worthy of attention. Exploration Geology offers directly little new in the technique of oil-finding— major stress being laid on improvement in subsurface correlation by means of foraminifera1 studies, additions to the knowledge of which are being made, slowly but surely, and by means of mineral, and especially heavy mineral, determinations in well samples. The general application