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Technologic Progress in the Oil Industry

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Abstract

As an industry approaches stabilization, greater and greater stress must belaid on its technologic progress, which becomes a prime aid in improving itscondition. The oil industry is tending toward this stage and hence itsengineers must be pressed into greater service to prevent stabilization andstagnation from becoming synonymous, and to supply, either by improvements inprocesses or by new machinery, a means of obtaining savings in raw and finishedproducts. Thus profits can be assured warranting continued investment. It may be repeated, technology must apply a slight improvement here, achange there, or a complete renovation, to eliminate inefficiencies and makeeach dollar invested yield greater results. The profits of yesterday were madeof rich strikes, of monopolized patents or processes, of control of prices andof markets. Sixty-five years of growth, of large investment, of healthfulcompetition, and of expanding markets, have put the oil industry in theforemost rank of world industries. Just as the railroads passed a similarperiod of expansion and growth, and are being stabilized with reasonableprofits, so the oil industry must take advantage of the efforts of itsengineers and experts to promote its healthful growth and a better service tothe people. Herein is attempted a review of recent progress in which is presented theadvances in exploration, production engineering, transportation, refining and greater efficiency in uses of petroleum, with a view not only tostressing important new processes and methods, but also the problems that pressfor solution. This review can only touch outstanding developments of recentyears, but the several Petroleum Division symposiums of program will presentdetails worthy of attention. Exploration Geology offers directly little new in the technique of oil-finding majorstress being laid on improvement in subsurface correlation by means offoraminiferal 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.

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