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By Arthur Knapp

The law of supply and demand is, in general terms, that law which governs the price of any commodity in an unrestricted competitive market. There are several variables which, for the purpose of this discussion, will be defined only as they apply to the petroleum industry: Production: The volume of petroleum that is moved from leases. Stocks: The volume of petroleum that is in the hands of the tank farm and pipeline companies. Inventory: The value of the stocks at the market. Consumption: The indicated delivery of oil to others than those who hold stocks. Demand: The potential absorbing power of the consuming market. Demand is the expression of the needs of the consumer and may depend on the economic value of the oil to the consumer. In times of low prices, the demand is the same as the consumption but during periods of high prices or deficiency in supply, the demand may be greater than consumption. A general expression of the law is as follows: production or consumption Some relation between stocks and or controls price or demand inventory The Law as Applied to Crude-oil Market The above general expression of the law shows that there are six relations between variables that must be investigated in any attempt to establish the exact status of price control at any time. Production vs. Consumption If stocks of crude oil were very low, so that the flow of oil to the market was directly from the producer to the consumer and not, in a large measure, through stocks, some relation between production and consumption would be proportional to price changes. We have no criterion whereby we can tell, at present, what volume of stocks and production

Jan 1, 1924

By John Norton

IN spite of the very general employment of nitride hardening, there is still considerable doubt as to the real nature of the mechanism involved. Experience has shown that the addition of small amounts of hardening elements to iron or steel results in a wide variety of desirable properties in a nitrided case. Perhaps the foremost of these elements is aluminum and in this investigation an attempt has been made to study the behavior of aluminum during the hardening process. It is believed that the establishment of a complete atomic picture of the metal at various stages of the process will indicate the relationships between the several kinds of atoms and their individual influences on the physical properties in a clear and direct fashion. A consideration of the problem suggests a surprising similarity between the mechanisms of nitride hardening and of age-hardening. It is now generally understood that age-hardening may take place by one of two distinct processes, the first involving the precipitation of a finely dispersed phase and the other being concerned with the modifica-tion of an existing phase. Following much the same line of reasoning, two theories of nitride hardening have been suggested. The first expla-nation, which has been generally discussed, particularly by Fry,1 states in brief that the presence of aluminum causes the precipitation of alumi-num nitride during nitriding and that this finely dispersed phase is the primary cause of hardening. The second explanation, which has not been published but which has been freely discussed by those interested in the problem, postulates the substitution of aluminum atoms for certain of the iron atoms in the several iron-nitrogen phases in the same manner that the substitutional iron-aluminum solid solution is formed. The marked increase in hardness, as compared with the aluminum-free

Jan 1, 1934

By Herbert K. Kutter

This paper is concerned with the physical phenomena in the fracture process of presplitting and only indirectly with the establishment of the optimum presplitting parameters. Its nature is therefore qualitative, rather than quantitative. Before examining the problem of presplitting, it is first necessary to study the phenomena which occur when an explosive charge is detonated in a borehole. To do this it is desirable to consider the action of the explosion wave separately from that of the expanding gases.l In the theoretical analysis such a separation poses no problems. Experimentally this was accomplished by use of an underwater-spark discharge to generate the stress wave and by pressurized oil to simulate the pressure of the explosion products. The main role of the wave is to generate a densely radially fractured zone around the borehole. The subsequent gas pressure, exerted against the walls of a highly (radially) fractured cavity, generates a quasi-static stress field (henceforth referred to as static stress field). This stress field was found to be the same as that of a pressurized cylindrical "equivalent cavity" with a radius equal to that of the crack tips. Under these conditions the quasi-static stresses become appreciable and cause further extension of the radial cracks. It was further found that, under gas pressure, the longest of the radial cracks would extend first, and extension of two diametrically opposed radial cracks requires the least pressure. From these observations concerning the single shot the transition to a whole series of more or less simultaneous shots, as in presplitting, can readily be made. In the case of multiple shots, as in presplitting, exactly the same effects occur, but at numerous locations and sufficiently close in time that they interfere with

Jan 1, 1968

By Albert Sauveur

This paper explains the possibility of using advantageously a boiling solution of sodium picrate to reveal dendritic segregation in steel. The mechanism of the action of the reagent is described. The failure of manganese alone to produce persistent dendritic segregation is also considered. IRON, like other metals, solidifies through the formation of dendritic crystals; iron alloys forming solid solutions, like other solid solutions, solidify likewise through the formation of dendritic crystals. The alloying elements or impurities as well as the inclusions segregate generally in the interstices, or "fillings," between the axes and branches of the dendrites; that is, in the portions last to solidify. This results in dendritic segregation or heterogeneity, which is generally persistent and makes possible the revelation of the dendritic crystallization of the metal through the selective action of a suitable etching reagent.1 For this purpose, a cupric solution, such as Le Chatelier's, is generally used, copper being deposited on the pure, or relatively pure, ferrite present in the axes while the fillings remain free, or relatively free., from copper deposition. The dendritic structure, formed on solidification in a steel containing 0.50 per cent. carbon, 0.37 per cent. manganese, 0.12 per cent. silicon, 0.07 per cent. sulfur, and 0.035 per cent. phosphorus is shown, after treatment with Le Chatelier reagent, in Fig. 1 under a magnification of 8 diameters. Commercial steel always contains inclusions of manganese sulfide, which are located in the fillings of the dendrites. Comstock has shown that boiling sodium picrate imparts a dark coloration to these inclusions. We find that this reagent likewise reveals dendritic segregations in commercial steel, as shown in Fig. 2, under a magnification of 8 diameters, which represents the same spot as that shown in Fig. 1. The fillings

Jan 2, 1924

By T. K. Smith

The comments contained in the discussion of the paper concerning the prediction of fracture gradients are of considerable interest, since the subject is of a very controversial and timely nature. It is regrettable and Fairhurst2 contradicts the author's statement in the third paragraph of Other Applications. These references create significant doubt that Eaton's Eq. 1 predicts fracture pressure during the injection of fluid into old wells. 3. No evidence is presented in this paper to support the author's Conclusions 2 and 3. While an empirical coefficient related to back-calculated field data is correlated with depth (Eaton's Fig. 4), there is no reason to suspect that this coefficient might be the Poisson's ratio of the various formations involved. 4. Until the field data supporting the empirical approach proposed by the author are presented and evaluated, the accuracy claimed in Conclusion 5 is without substantiation. References 1. Geertsma, J.: "Problems of Rock Mechanics in Petroleum Production Engineering", Proc., First Intl. Symposium on Rock Mechanics, Lisbon (1966) 585. 2. Haimson, B. and Fairhurst, C.: "Hydraulic Fracturing in Porous-Permeable Materials", I. Pet Tech. (July, 1969) 811-817. that the comments are those of a critic and do not offer an alternative and better method for the prediction of fracture gradients. Nevertheless, a reply is in order.

Jan 1, 1970

By Joseph Domenico

AMONG others, one of the most important duties of the accounting department is to disclose to the management the cost of production accurately and as quickly as possible after the ore has been produced and treated. A report is issued daily showing man shifts and the cost of labor, supplies, power, and miscellaneous charges to each department of the operation: mining, crushing, milling, packing and loading, and general expense. Mining costs are broken down into stoping, handling, development, exploration, and miscellaneous, and each of these subdepartmental costs are further broken down into the branches making up the subdepartment. Costs of crushing, milling, packing and loading, and general expense are detailed in the same manner. With such a detailed daily report as this, the management is able to keep in close touch with the efficiency of the entire operation. Because no expense items are deferred or spread over a period, and so that the report does not lose its comparative valve, appearances of unusual charges are explained.

Jan 1, 1946

By AIME AIME

CONCIDENT with what promises to be a record-breaking year of activity in the world's greatest iron-ore district is the announcement of plans to hold the regional meeting of the American Institute of Mining & Metallurgical Engineers at Duluth, Aug. 12 to 15 in¬clusive. More than 25 open-pit mines will be in operation in Minnesota's great iron-ore district this year, affording to those attending the convention an unusual op¬portunity of viewing practically side by side the interesting activities of power-shovel operations, railway haulage, truck haulage, conveyor-belt haulage, tower-excavator operations, iron-ore concentration, and underground mining. The ore can be followed from the mines to washing and concentrating plants and to the docks and lake carriers on Lake Superior, where an average of one boat of 10,000 tons' capacity will be loaded and depart every 15 minutes, day and night, during the 1941 shipping season.

Jan 1, 1941

At its meeting on February 21, 1933, the Board of Directors passed the following resolution defining and expressing the policy of the Institute with respect to official participation or action in controversial matters: WHEREAS, the Board of Directors at its last meeting passed the following resolution: "The Board of Directors, having been appealed to by several Local Sections for advice concerning the attitude and policy of the Institute relating to the endorsement of candidates for public office, the following statement of policy is formulated: "Whereas, the American Institute of Mining and Metallurgical Engineers is organized for purely professional and scientific purposes, and whereas diversity of opinion among its members on partisan or political questions is inevitable, it is the expressed policy of the Institute to refrain from official participation or action in political and semi-political matters." AND WHEREAS, appeals for additional advice have been received: NOW, THEREFORE, IT IS RESOLVED: (1) That the policy of the Institute is to refrain from official participation or action in controversial non-technical economic subjects; further (2) That if any Local Section is in doubt as to the application of this policy to any particular subject, it should communicate with the Secretary of the Institute for advice.

Jan 1, 1940

At its meeting on February 21, 1933, the Board of Directors passed the following resolution defining and expressing the policy of the Institute with respect to official participation or action in controversial matters: WHEREAS, the Board of Directors at its last meeting passed the following resolution: "The Board of Directors, having been appealed to by several Local Sections for advice concerning the attitude and policy of the Institute relating to the endorsement of candidates for public office, the following statement of policy is formulated: "Whereas, the American Institute of Mining and Metallurgical Engineers is organized for purely professional and scientific purposes, and whereas diversity of opinion among its members on partisan or political questions is inevitable, it is the expressed policy of the Institute to refrain from official participation or action, in political and semi-political matters." AND WHEREAS, appeals for additional advice have been received: NOW, THEREFORE, IT IS RE¬SOLVED: (1) That the policy of the Institute is to refrain from official participation or action in controversial non-technical economic subjects; further (2) That if any Local Section is in doubt as to the application of this policy to any particular subject, it should communicate with the Secretary of the Institute for advice.

Jan 1, 1946

Arizona Bureau of Mines and College of Mines and Engineering, University of Arizona, Tucson, Ariz. Lists of the maps and bulletins available will be sent upon request to G M Butler, Director, Arizona Bureau of Mines, Tucson, Ariz Bulletin 119, A resume of the geology of Arizona, by N. H Darton, is sold for $1, postpaid Fourteen other bulletins, any five of which may be had free of charge (additional numbers may be purchased for 10 cents each) are available as follows - 106, A geological reconnaissance of the Tucson and Amole Mountains, by Olaf P Jenkins and Eldred D Wilson, 114, Fluorspar, by M A Allen and G M Butler, 120, Gold and copper deposits near Payson, Arizona, by Carl Lausen and Eldred D Wilson, 122, Quicksilver resources of Arizona, by Carl Lausen and E D. Gardner, 123, Geology and ore deposits of the Courtland?Gleeson region, Arizona, by Eldred D Wilson; 125, The mineral industries of Arizona, by J B Tenney, 126, Asbestos deposits of

Jan 1, 1933

By Brian Mason

Wire Ropes in Mines. Proceedings of a conference held at Ashorne Hill, Leamington Spa, Warwickshire, September, 1950. Published by the Institution of Mining and Metallurgy, Salisbury House, London, 1951. 828 P. $7.00-The volume contains 18 pages on the manufacture and properties of rope wire and wire ropes. In addition, wire rope practice in Britain, Ontario, the Witwatersrand, The United States, South Africa, and other countries are discussed. Testing, government regulations, and inspection are also treated. The book contains a three day discussion on these subjects complete with a summary of conclusions and recommendations. Heating Ventilating Air Conditioning Guide 1952. Published by the American Society of Heating and Ventilating Engineers, New York, 1952. 1496 P. $7.50.Contains a technical data section of reference material on the design and specification of heating, ventilating and air conditioning systems. Also has a section containing information on equipment and manufacturers. An index to technical and equipment sections is included.

Jan 1, 1952

The economic recovery of metals from dilute solutions has been the dream of mining engineers for many years. This subject is now receiving greater attention, particularly for copper, in view of the heightened demand for the metal and the tightening supply situation. A Copper Precipitation session, sponsored jointly by EMD Hydrometallurgy Committee and MBD, which took place during the Annual Meeting in March, heard papers on recent research and plant practice. Although the bulk of research in hydrometallurgy has been carried out in countries other than the United States1, producers in this country are making important contributions to the heap or dump leaching system. They realize that the processes are essentially simple to install and give high recovery rates at reasonable cost. Jacobi estimated in 1963 2 that the copper mining industry obtained a gross return from scavenging operations -on a worldwide basis-on the order of $20 million annually, subject to the usual deductions for refining and realization charges, overheads, taxes, etc.

Jan 6, 1966

By A. H. Lindley, Fraizer M. Stewart

For many years large mining companies were able to finance nearly all of their capital requirements from internally generated funds. However, during the last decade, funds needed for capital expenditures, dividends, and scheduled debt retirement have grown faster than cash flow. As a result the minerals industry has had to rely increasingly on other sources of funds. Getting the capital for new mining projects is a challenge, particularly for smaller companies. New methods of financing and new variations to old methods have been developed and more are needed. Commercial banks are short-term lenders. By policy their loans are limited to low risk loans-those made solely on the borrower's general credit, and secured loans where cash flow is sufficient to provide repayment within a comparatively short term. To maintain liquidity, banks prefer to make loans of less than seven years' term. If a longer loan is needed an insurance company or pension trust may take the long-term part.

Jan 1, 1971

By J. E. Tobey

BECAUSE of the wide-spread publicity given to Nylon yarn as being made from ?coal, air, and water,? the general public has become conscious of the nonfuel uses of bituminous coal. Some of these uses are as filler for fertilizer, carbon for the absorption of orders, for water supply, and for the bedding of cattle. Spectacular as are these accomplishments the fact is that only a small amount of coal is used for nonfuel purposes. It is on the utilization of coal as fuel that the industry depends. Practically all the coal mines for years to come will be used for making coke for the generation of heat. Recently much attention has been paid to the significance of ash in coal. Another study worthy the interest of metallurgists in the iron and steel industries if that of Dr, Lowry of the Carnegie Institute of Technology relative to the percentage of sulphur in coal and coke.

Jan 1, 1941

By E. A. Sondreal, P. H. Tufte

Flue gas desulfurization when burning western U.S. coals can be expected to be easier to achieve and less costly than when burning higher sulfur eastern and central coals. However, western coals cannot generally be burned in compliance with federal and state new source emission standards without some degree of control. Western coals and lignite represent about 20% of total U.S. recoverable reserves with 90% of that strip minable, and their production is predicted to increase from the 60 million tons mined in 1973 to 300 million tons in 1985. Most will be used for electric power generation, where low sulfur content is a paramount concern. Western coals are predominantly below 1% sulfur; low compared with typical values of 2 and 3% for eastern and central coals. Coal cleaning for removal of sulfur is not commercially practiced on Western coals, which typically contain half organic and half pyritic sulfur. A fraction of the pyrite sulfur could possibly be removed, but the

Jan 1, 1976

By C. W. Kempton

If New England were located in some distant and almost inaccessible region, there is no doubt that its mineral resources would have been ere this well developed and generally acknowledged, but laboring under the disadvantage of nearness, it has been neglected. Its surface, moreover, is not cut up by mountains and canons, and the remnants of many of the old ridges are extensively covered by glacial drift. Having for the past ten months been engaged in the development of a mineral district in Southeastern Maine, 1 would take this opportunity to lay before the Institute sketches of results, and try to give some idea of the formations as found. The Sullivan Mining District extends from the town of Franklin, through Hancock, Sullivan, and Gouldsborough, from northwest to southeast, about sixteen miles. A general idea of this locality may be gathered from the map accompanying. (Fig. 1). Sullivan is situated at the head of Frenchman's Bay, ten miles north from Bar Harbor, Mount Desert, twelve miles from Ellsworth,

Jan 1, 1879

By Michael E. Zellars

The environment for deposition of marine phosphorite is controlled by the relationship of prevailing climatic, oceanographic, structural, and sedimentary conditions. The set, or sets, of conditions that has evoked the accumulation of economic concentrations of phosphorite has been the subject of a number of previous works. Phosphorite presently considered ore is generally in excess of 10% P205 with an extractable phosphate product in excess of 30% P2O5. The concentration of the product in the ore, its amenability to state-of-the-art extraction, and thickness of the overburden are major controlling factors in determining its mineability. A recent survey of phosphorite deposits in the south-eastern United States included a review of the depositional and structural setting for the major areas of occurrence. The application of previous work regarding phosphorogenesis has led to the establishment of a general depositional model for most mid-Miocene primary phosphorites, and, is also possibly applicable to the Bone Valley (Pliocene-Miocene) district of central Florida.

Jan 12, 1978

Draftsman and transitman for coal mine work in Middle West. Salary $125 per month. No. 277. Mechanical draftsman familiar with mill and machinery design for metallurgical and chemical plants. Advise experience, salary expected, and references. No. 289. Two cyanide shift bosses, one cyanide mill supt, and one assayer, for work in South America. Expenses clown and return if two year contract is made. No. 290. In assay laboratory of University in the Middle West, man to take charge of ore-dressing and. help in assay laboratory work. Willing to give right man assistant professorship. No. 291. Experienced appraisers familiar either with field or office methods, capable of field survey of the physical properties and able to check up their survey on the books of the company, which require a very intimate knowledge of accountancy. Salary $2000 to $2700. No. 292. Young man trained in chemistry and engineering to conduct experimental work on storage of coal. No. 293.

Jan 4, 1918

By F. R. Morral

In 1964, mining education in the United States will celebrate a 100th anniversary-that of the founding of our first school of mines at Columbia University. Prior to that, curricula leading to degrees in mining and metallurgical engineering were offered in 1853 by the Polytechnic College of Pennsylvania in Philadelphia. But the New World's earliest achievements in mining and metallurgical education were those of the Spanish in what is now Mexico. American metallurgy probably goes back to Father Jose de Acosta, who in 1590 described the metallurgy of silver and mercury in the New World.' The Spanish priest and metallurgist Don Alvaro Alonso Barba Toscano (1569-1662), in his hook The Art of Metals, published in 1640, stated a need for a school of mining and metallurgical education in the New World. (The latest translation of this book was made by R. E. Douglas and E. P. Mathewson and published by J. Wiley & Sons, New York, in 1923.)

Jan 1, 1963

SEC. 1. This Institute is incorporated under the Membership Corporations law of the State of New York; its corporate name in American Institute of Mining and Metallurgical Engineers, Incorporated; and its abbreviated title A. I. M. E. SEC. 2. The objects of this Institute, as set forth in its certificate of incorporation, are: "To promote the arts and sciences connected with the economic production of the useful minerals and metals, and the welfare of those employed in these industries by all lawful means; to hold meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members the information thus obtained, and to establish and maintain a place for meeting of its members, and a hall for the reading of papers and delivery of addresses and a Library of books relating to subjects cognate to the sciences and arts of mining and metallurgy."

Jan 1, 1937