Bankers Trust forecasts new high in oil imports
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.
- OSTI ID:
- 6049227
- Journal Information:
- Pace Synth. Fuels Rep.; (United States), Vol. 23:4
- Country of Publication:
- United States
- Language:
- English
Similar Records
Contemporary energy studies: a review of electric utility industry-related topics
New York Marcellus Shale: Industry boom put on hold
Related Subjects
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