Petroleum potential of Latin America and Africa from a global perspective

Journal Article · Mon Nov 02 04:00:00 EST 1981 · Oil Gas J.; (United States)

OSTI ID:5236599

Attanasi, E D; Root, D H

In 1950, the US produced more than half the world's crude oil, but from 1951 to 1977, the US share of world production declined from 52 to 14%. As recently as 1972, Venezuela and Canada supplied half of US crude oil imports, but like the US, are experiencing declining production, and the main sources of US crude oil import have shifted to countries across the Atlantic to Nigeria, North Africa, and the Persian Gulf. From 1900 to 1950, the US dominated world petroleum production because its overall industry was more petroleum oriented than that of the rest of the world. Crude oil production was limited by demand. Now resource limitations on petroleum production outweigh the internal demand for petroleum. Therefore, any country having large oil fields can import the technology necessary to develop them and can sell the product on the world market at a high price. 11 references.

• OSTI ID: 5236599
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 79:44; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
AFRICA
ENERGY SOURCES
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
GLOBAL ASPECTS
INDUSTRY
LATIN AMERICA
MINERAL RESOURCES
NORTH AMERICA
OIL FIELDS
PETROLEUM
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
PRODUCTION
RESOURCE DEVELOPMENT
RESOURCES
SUPPLY AND DEMAND
TECHNOLOGY TRANSFER
USA