Nature of the crisis in energy

Conference · Fri Dec 01 04:00:00 EST 1972 · J. Pet. Technol.; (United States)

OSTI ID:7102769

Akins, J E

In 1950, the U.S. consumed 7 million bbl/day of oil and had shut-in capacity of more than 2 million bbl/day vs. consumption outside the U.S. of 3.5 million bbl/day. In 1970, the U.S. consumed 14.5 million bbl/day of which 3.5 million bbl/day were imported. By 1980, the U.S. may be consuming 24 million bbl/day of which 12 million bbl/day would be imported, including 9 million bbl/day from the Eastern Hemisphere. World consumption after 1980 is likely to be 80-100 million bbl/day, with 40-60 million bbl/day obtained from Arab countries. The producing countries will be in a position to increase crude oil prices, and the U.S. could be paying $20 billion for oil imports in 1980 with an uncertain source of supply. Steps should be taken to increase domestic production, to increase supply sources in the Western Hemisphere, to find new sources of energy, and to reduce the rate of growth of consumption by using energy more efficiently.

• Research Organization: State Dept., Washington, DC
• OSTI ID: 7102769
• Conference Information: Journal Name: J. Pet. Technol.; (United States) Journal Volume: 24
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020600* -- Petroleum-- Health & Safety
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
CHARGES
CONSUMPTION RATES
ENERGY CONSERVATION
ENERGY POLICY
ENERGY SOURCES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
NORTH AMERICA
PETROLEUM
PRODUCTION
USA