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Title: Bankers Trust forecasts new high in oil imports

Abstract

H.W. Krupp of Bankers Trust Company stated that the recent collapse of oil prices almost certainly will lead oil imports to rise to unprecedented levels within the next decade. This increased dependence on foreign sources of supply represents a clear threat to the nation's military and economic security. Krupp notes that it is widely expected that OPEC's leverage over oil prices will be restored over the next decade, and in large part, the US will be responsible for OPEC's growing market power. Over the next decade, US oil imports alone will account for over 60 percent of the increase in worldwide requirements for OPEC oil. He concludes that legislators should give consideration to development of an alternative fuels policy. Although not a fashionable topic at the moment, the fact remains that some alternative fuels will become economic and play an increasingly important role in the next century. But we cannot depend on the private sector alone to foster development of alternatives that will become economic so far in the future. Therefore, the Government should provide a helping hand now to provide for a foundation of alternative fuel technologies.

Publication Date:
OSTI Identifier:
6049227
Resource Type:
Journal Article
Journal Name:
Pace Synth. Fuels Rep.; (United States)
Additional Journal Information:
Journal Volume: 23:4
Country of Publication:
United States
Language:
English
Subject:
02 PETROLEUM; 29 ENERGY PLANNING, POLICY AND ECONOMY; PETROLEUM; IMPORTS; SYNTHETIC FUELS; ENERGY POLICY; FINANCING; FORECASTING; NATIONAL SECURITY; OPEC; RECOMMENDATIONS; RESEARCH PROGRAMS; ENERGY SOURCES; FOSSIL FUELS; FUELS; GOVERNMENT POLICIES; INTERNATIONAL ORGANIZATIONS; OIL-EXPORTING COUNTRIES; SECURITY; 020700* - Petroleum- Economics, Industrial, & Business Aspects; 294000 - Energy Planning & Policy- Fossil Fuels; 292000 - Energy Planning & Policy- Supply, Demand & Forecasting; 293000 - Energy Planning & Policy- Policy, Legislation, & Regulation

Citation Formats

. Bankers Trust forecasts new high in oil imports. United States: N. p., 1986. Web.
. Bankers Trust forecasts new high in oil imports. United States.
. 1986. "Bankers Trust forecasts new high in oil imports". United States.
@article{osti_6049227,
title = {Bankers Trust forecasts new high in oil imports},
author = {},
abstractNote = {H.W. Krupp of Bankers Trust Company stated that the recent collapse of oil prices almost certainly will lead oil imports to rise to unprecedented levels within the next decade. This increased dependence on foreign sources of supply represents a clear threat to the nation's military and economic security. Krupp notes that it is widely expected that OPEC's leverage over oil prices will be restored over the next decade, and in large part, the US will be responsible for OPEC's growing market power. Over the next decade, US oil imports alone will account for over 60 percent of the increase in worldwide requirements for OPEC oil. He concludes that legislators should give consideration to development of an alternative fuels policy. Although not a fashionable topic at the moment, the fact remains that some alternative fuels will become economic and play an increasingly important role in the next century. But we cannot depend on the private sector alone to foster development of alternatives that will become economic so far in the future. Therefore, the Government should provide a helping hand now to provide for a foundation of alternative fuel technologies.},
doi = {},
url = {https://www.osti.gov/biblio/6049227}, journal = {Pace Synth. Fuels Rep.; (United States)},
number = ,
volume = 23:4,
place = {United States},
year = {Mon Dec 01 00:00:00 EST 1986},
month = {Mon Dec 01 00:00:00 EST 1986}
}