Why Norwegian gas and oil has international importance

Journal Article · Mon Mar 01 04:00:00 EST 1976 · World Oil; (United States)

OSTI ID:7348216

Orlofsky, S

Norway may be prepared to lift production restrictions in its portion of the North Sea. There is opposition to this plan within the country, but others consider that Norway has an obligation to help correct the imbalance of payments by working to keep petrodollars within the European community. Norway is in a position to provide a significant segment of the time needed for industrialized countries to take steps to permanently moderate dependence on Mideast oil. Higher oil prices resulted in an $80-billion shift in funds in 1974. World recession reduced this in 1975. This has brought about the present financial repercussions. These funds are not being reinvested quickly enough to permit the international monetary system to function without an inflationary expansion of money and credit. The stringent energy conservation measures being placed into operation by most industrial nations are intermediate necessary actions to also buy time necessary to bring about permanent solutions. Other time-providing measures must be developed until: non-OPEC, world-wide oil and gas potential can be developed; the world moves toward a coal economy in balance with other energy sources; and solar energy technology is developed that would eventually bring about energy self-sufficiency to all countries large and small. (from Introduction)

• Research Organization: Columbia Gas System Supply Corp., Wilmington, DE
• OSTI ID: 7348216
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 182:3; ISSN WOOIA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
AGREEMENTS
ATLANTIC OCEAN
CHARGES
COMMON MARKET
ENERGY CONSERVATION
ENERGY POLICY
ENERGY SOURCES
EUROPE
EUROPEAN COMMUNITIES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGICAL SURVEYS
GOVERNMENT POLICIES
INTERNATIONAL AGREEMENTS
INTERNATIONAL COOPERATION
INTERNATIONAL ORGANIZATIONS
MARKET
NATURAL GAS
NORTH AMERICA
NORTH SEA
NORWAY
PETROLEUM
RESERVES
RESOURCES
SCANDINAVIA
SEAS
SURFACE WATERS
USA