Oil price, government policies fuel industry's shift from U. S

Journal Article · Mon May 27 00:00:00 EDT 1991 · Oil and Gas Journal; (United States)

OSTI ID:5144085

Silas, C J ^[1]

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1. Phillips Petroleum Co., Bartlesville, OK (US)

The world exploration outlook starts with the outlook for the price of oil. This paper reports that oil prices and government policies for fuel industries shift from the U.S. If we've learned anything in the past decade it's that we're not very good at predicting oil prices. We can build economic models of supply and demand but we can't build models for political events in the Middle East or the actions of someone like Saddam Hussein. As we look to 2000 our best estimate is that oil will remain at about $20 for the near term and move upward very gradually during the rest of the decade. Of course, rising demand eventually should cause oil prices to break out and show some strength. But not soon. We don't see oil prices overcoming inflation until the latter part of the decade. And we aren't expecting oil prices much above $25 in inflation adjusted terms until the next century.

• OSTI ID: 5144085
• Journal Information: Oil and Gas Journal; (United States), Vol. 89:21; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
29 ENERGY PLANNING
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PETROLEUM INDUSTRY
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FOSSIL FUELS
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