Industry trends point toward bright future
Examination of the trends for the past 5 yr shows increasing soundness in the international petroleum industry. U.S. figures alone have a mixed complexion, with imports, exports, crude prices, and demand rising steadily. U.S. crude oil production, however, increased through 1970, but leveled off last year. Decreases occurred during 1971 in the number of rigs working, gas producers, and wildcats drilled. Trends in Free World drilling and production (outside the U.S. and Canada) have been upward and are expected to continue expanding generally through the year 2000. World petroleum demand, the key to this activity, has risen steadily, and all forecasts predict increases of around 3.5% a yr for the next 15 yr. Included in this outlook is a booming natural gas use, which comes as a result of worldwide emphasis on clean-burning, nonpolluting fuels. Competition among energy sources may not materialize. Instead, a mix of all available energy sources will be needed to meet the demand. Tabular data provide complete details.
- OSTI ID:
- 6206125
- Journal Information:
- World Oil; (United States), Vol. 174:3
- Country of Publication:
- United States
- Language:
- English
Similar Records
World trends: productive capacity grows as world demand falters
China's new oil import status underpins world's most dynamic petroleum scene
Related Subjects
03 NATURAL GAS
29 ENERGY PLANNING
POLICY AND ECONOMY
NATURAL GAS INDUSTRY
REVIEWS
PETROLEUM INDUSTRY
EXPORTS
IMPORTS
NATURAL GAS
PETROLEUM
PRICES
PRODUCTION
RESERVES
SUPPLY AND DEMAND
DOCUMENT TYPES
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INDUSTRY
RESOURCES
020700* - Petroleum- Economics
Industrial
& Business Aspects
030600 - Natural Gas- Economic
Industrial
& Business Aspects
020100 - Petroleum- Reserves- (-1989)
030100 - Natural Gas- Reserves- (-1989)
294002 - Energy Planning & Policy- Petroleum
294003 - Energy Planning & Policy- Natural Gas