Energy supply, price outlook fairly stable for 1978

Journal Article · Mon Jan 16 04:00:00 EST 1978 · Energy User News; (United States)

OSTI ID:5285689

Turvey, C R

The petroleum industry's supply and economic outlook for 1978 is outlined in terms of the general economy, world demand and supply, and the political scene. An optimistic 4.5 to 5 percent increase in the gross national product is projected along with a favorable world supply scene. Uncertainty in the regulatory area, however, is seen as a threat to investment and planning. Resolution is called for on the issues of price controls and allocations, cargo preferences, and an equalization tax. Specific forecasts are given for the demand, supply, and price of distillates, residual fuel oils, gasoline, and other products. An overall demand increase of 2.7 percent and adequate supplies for the normal winter are projected. Equalization of crude oil costs is expected to affect only light products to the extent of about 2.3 cents a gallon. Depending on the extent of price control, gasoline prices will go up 2.4 to 5.5 cents a gallon.

• Research Organization: Continental Oil Co. (Conoco), Stamford, CT
• OSTI ID: 5285689
• Journal Information: Energy User News; (United States), Journal Name: Energy User News; (United States) Vol. 3:3; ISSN EUSND
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
ALLOCATIONS
CHARGES
DEMAND FACTORS
ECONOMICS
ENERGY SUPPLIES
FORECASTING
GLOBAL ASPECTS
GOVERNMENT POLICIES
INDUSTRY
INVESTMENT
PETROLEUM INDUSTRY
PETROLEUM PRODUCTS
PLANNING
REGULATIONS
TAXES