FEA: prices hold key to energy future. [New national energy outlook]

Journal Article · Mon Mar 15 04:00:00 EST 1976 · Oil Gas J.; (United States)

OSTI ID:7274297

The Federal Energy Administration paints a bleak picture of the U.S. energy outlook unless oil and gas prices are deregulated, OCS development is pursued, and strong government support is provided for alternate fuels. This is the main thrust of the agency's new National Energy Outlook, an update of its November 1974 Project Independence report. The new forecast makes little mention of 1980 goals, when energy independence originally was to be the target, but does refer often to the outlook for 1990. If oil and gas prices continue to be regulated at low levels, oil imports, now averaging about 6 million b/d, could rise to 13.5 million b/d, the report projects. With intensely accelerated production of both onshore and offshore sources under free-market pricing and increased conservation efforts, imports could drop as low as 1-2 million b/d by 1985. FEA, however, feels this is highly unlikely. Its actual forecast is that even with current world prices, oil and gas price decontrol, and present OCS production plans, imports will drop only slightly in 1985 to 5.9 million b/d. FEA has trimmed its expectations for nuclear power's contribution to future energy needs. And it now says new technologies such as solar, geothermal, and synthetic fuels will contribute only 1 percent by 1985 and will have major contributions only after 1990--if force fed by the Government. (from Introduction)

• OSTI ID: 7274297
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 74:11; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
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& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
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29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
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CHARGES
CONTINENTAL SHELF
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ENERGY SOURCES
GEOTHERMAL ENERGY
GOVERNMENT POLICIES
INDUSTRY
INTERNATIONAL ORGANIZATIONS
MARKET
NATIONAL ORGANIZATIONS
NATURAL GAS INDUSTRY
NORTH AMERICA
NUCLEAR ENERGY
OPEC
PETROLEUM INDUSTRY
REGULATIONS
RENEWABLE ENERGY SOURCES
SOLAR ENERGY
TRADE
US FEA
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USA