New era of stability in energy economics

Journal Article · · J. Energy Dev.; (United States)

OSTI ID:7283792

Yamani, A Z

Oil contributes to more than half of the world energy requirements, and an examination is made in this paper of its supply and demand in the light of events that took place over the past two years. The factors that determine the supply of oil are: world oil reserves both existing and potential; the price of oil; the requirements of the producers and consumers of oil; and the rate of development of alternative sources of energy. Mr. Yamani feels the mid-1975 decline in oil demand came as a result of a number of factors, but mainly (1) the crude oil price increases of January 1974, (2) the recession in industrialized countries, and (3) government policies of major consuming countries. It is now recognized, he states, that no one country can exist in total isolation from the rest of the world, and the economies of the various countries are interrelated and affect each other profoundly. Further, he feels it is imperative for the international community to seek out the inequities and imbalances and remove them; and that this must be the objective of any future meetings that bring together the developed and undeveloped countries, including the oil producers. (MCW)

• Research Organization: Minister of Petroleum and Mineral Resources of the Kingdom of Saudi Arabia
• OSTI ID: 7283792
• Journal Information: J. Energy Dev.; (United States), Journal Name: J. Energy Dev.; (United States) Vol. 1:1; ISSN JENDD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
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29 ENERGY PLANNING, POLICY, AND ECONOMY
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294002 -- Energy Planning & Policy-- Petroleum
AGREEMENTS
CHARGES
ECONOMICS
ENERGY
ENERGY POLICY
ENERGY SOURCES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
INTERNATIONAL AGREEMENTS
INTERNATIONAL COOPERATION
PETROLEUM
STABILITY