Casper Daily Tribune Newspaper, January 22, 1922, Page 22

CONSERVATION-—The Keynote of the Wyoming Petroleum Industry WE are standing on the threshold of a new yeur and our hearts are filled with gratitude as we catch a glimpse of sunshine through a rift in the cloud of business depression that has cast a gloom over the whole world during the past three years. The year 1921, in particular, has had its disappoint- ments owing to conditions over which no man or organization | could exercise control. Sie fundamental principle of all business is that of supply and demand. Production of any commodity is governed by the demand for that product, if business is to be operated in an economical manner and raw material conserved. HERE has never been a time in the history of this country when so much emphasis has been placed on conservatism as during the past few years. This is especially true in the petroleum industry. With the demand for refined petroleum products reduced to a low stage, it has made it necessary to curtail the refining of petroleum to the level of depressed market conditions, and this in turn has had its effect on the production of crude oil in Wyoming. In accordance with the policy of conservatism, instead of bringing the erude oil to the surface and storing it in iron tankage or reservoirs where it would be subject to loss by evaporation, fire or flood, it has been kept secure in the “original package” ---Mother Earth, where it can be drawn on from time to time, in such quantity as the market may warrant, thereby conserving the crude oil, prolonging the life of the field, and insuring a- supply of this important product that the Almighty has placed in this great state of Wyoming for the use of its people for many years to come. AST experience in the operation of oil production shows that where the above mentioned precautions have not been ‘taken, and the fundamental economic principles adhered to, the section. of the country interested has met ‘with disastrous ‘reverses both financially and commercially. Communities once prosperous, with every prospect for a steady growth in population and industry, found to their sorrow that their fond- est hopes have been shattered because of the rapid manner in which the ONE product upon which their prosperity was based was exhausted, resulting in serious loss to the merchant, the mechanic, the laborer, and the owner of real estate. We feel. quite sure that no citizen of Casper desires a similar exper- ience to befall this growing city, and which would in turn af- fect Natrona county and the entire state of Wyoming, reaching out to such an extent as to affect our educational institutions and the restriction of the highway program. ; ee Midwest Refining Company has ever had ‘in mind the conserving of the crude oil from Salt Creek field to the ex- tent of guaranteeing a permanent supply of crude oil for the limited but growing markets open to the Casper refineries. y E are quite sure the people of Wyoming are not living “just for today” only, but are looking toward the future as well. We must bear in mind that market conditions depend in a large degrée upon the prosperity of the people, and that in the final analysis it is the markets of the world that govern | the demand for raw materials from which products are manu- facturedthat add to the comfort and welfare of mankind: We believe that the signs of the times point to better business con- ditions in 1922, and that this will be reflected in the petroleum industry of our state. If this be true, The Midwest Refining Company will do its share in promoting the interests of those with whom it may have the pleasure of transacting business. We Take This Opportunity of Expressing to the People of Wyoming Our Sincere ; ; eS Wishes for a Happy and Prosperous New Year |Midwest Refining Co L. A. REED, Director ~ S é