The current problems of expensive exploration, imports, over-capacity in production and refining, and the continued loss of investment capital through increased government control have brought reduced margins of profits and steady declines in drilling, discoveries, reserves, and employment to the United States petroleum industry in recent years.

Because the pressure on management to produce profits is greater now than ever before, the petroleum geologist should awaken to the fact that the oil and gas industry must prosper within all of its ramifications if he, himself, is to prosper. It becomes imperative, therefore, that he take a more positive interest in all phases of the business and its problems--technological, political, and economical, as well as geological.

The geologist's required exploratory goal, the finding of profitable oil reserves, will depend on an economic evaluation of his geologic planning and efforts; also, his exploratory recommendations should be related to the economic policies and capabilities of his client, his company, or himself.

Greater emphasis should be placed on the proper selection, use, and direction of geologists and supervisors; on selectivity in the use of costly technical services; and on upgrading of the total exploratory effort through insistence on a thorough economic evaluation of all plays. Decisions for or against prospect selection, in effect, should be based on the amount of profit to be made from a particular prospect relative to the risk and investments involved.

Economic risks in exploration may be lessened through use of partnership arrangements in expensive ventures and through a policy of investing exploration funds in parts of more prospects rather than in all of a few.

Enthusiasm and optimism on the part of geologists and management are needed more now than in the golden years when profitable prospects were more obvious, numerous, and easy to find.

The industry's pessimistic attitude toward the occurrence and finding of large fields in the United States should be supplanted by an optimism based on positive and enthusiastic geologic thinking.

The profit motive should inspire both management and the geologist to sharpen and upgrade the exploratory effort. Achievement of this goal will reduce exploratory mediocrity and will do much to bring about success in the explorer's search for the more desirable treasures of petroleum which are hidden within the borders of this country.