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Sample text

Few years ago there was still A a disposition to believe that the supply of oil must be limited, and that the increasing rapidity of production must lead to an early exhaustion of the fields. Nothing has happened to confirm that idea, and he would be a bold man who would attempt to set a limit either to the productivity or to the life of the Baku oilfields. Though from time to time individual wells are abandoned because they are exhausted or can no longer be worked view of the heavy royalties for at a profit, especially in which too sanguine speculators made themselves responsible during the petroleum "boom" a few years ago, the number of producing wells has increased There were steadily from 458 in 1891 to 1,924 in 1901.

This represents an average of over £2,000 a mile, and, though the road is fairly well built and the engineering difficulties encountered in climbing the steep slopes — at so beautifully wooded and then so barren and precipitous to the north of the range, and in threading first — a way through the gaunt scorched rock which lead and narrow gorges of sun- down on to the great plateau must have been very considerable, so heavy an expenditure can be accounted for only by the lavish extravagance and absence of all financial of Northern Persia, control which generally characterise Russian under- of the question This, however, is an aspect upon which it would be ungrateful to dwell, and, for my takings of this nature.

I have dwelt at some length on the wonderful picture human activity which Baku now presents, though only a hundred years ago it was a neglected outpost of the Persian Empire, which then stretched of successful to the Caucasus, because, as said just now, it serves to heighten the contrast that awaits the Western up traveller when he lands on Persian I soil at Enzeli after a voyage of barely two hundred miles. He steps at Baku straight from the quay of a well-appointed harbour on to a small but fairly comfortable steamer, which, after calling for some hours at two intermediate points on the coast, drops anchor at an early hour on the second after departure from Baku opposite to a mud with a few low buildings over which the Persian morning flat flag displays the The Caspian Lion and the Sun.

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