Author: United States Federal Trade Commission

Publisher: Forgotten Books

Published: 2017-10-13

Total Pages: 280

ISBN-13: 9780265274583

Excerpt from Report of the Federal Trade Commission on the Pacific Coast Petroleum, 1921 This report shows in detail the cost of producing crude petro leum for 96 companies in 1914 and for 119 companies in 1919. In 1914 the costs cover per cent of the total production of Cali fornia, while for the first half of 1919 they include per cent. The cost of producing crude etroleum increased gradually each year from 1914 to 1919. For a companies combined the average cost was cents per barrel in 1914 and cents per barrel in 1919, which is an increase in average cost of 69 per cent. The detailed cost statements show the total cost divided into its chief elements, namely, lifting expense, eneral and administrative expense, depre ciation, and depletion. E lifting expense includes all expenses in curred in raising the crude petroleum from the oil wells and deliver ing it into the producers' receiving tanks. In the case of flewing wells this expense is very low per barrel, while for very deep wells which require pumping and yield a small production this expense is large. For example, in 1914 one compan having flowing wells shows a lifting cost of only 1 cent per arrel, while another company, whose wells required pumping, shows a lifting cost of The first company had an average production of barrels per well for the year, while the second produced only barrels per well. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.