As for oil, scaremongers have told us that the resources
of the world will be exhausted in seven years, whereas others have said that there is no limit to the supply. It is thought now that exhaustion might come within 40 years, but it is acknowledged that this estimate is quite speculative. Much more research must be carried out before an estimate can be formed of the total of water power available. In the field of electrical progress the Conference is on firmer. ground. The total output of electrical energy is now 190,000,000 million units. The United States produces nearly half of this, and Great. Britain only about 5 per cent. We must hope that the new electrical scheme will do something to adjust this humiliating disparity. Electrical schemes are being pushed forward in all countries. In 1918 electrical power counted for only 3 per cent. of the power output of the world, but in 1927 it had risen to over 11 . per cent. This suggests a wholesale trans- formation—the coming of universal electrified industry.
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