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The AAPG/Datapages Combined Publications Database

Southeast Asia Petroleum Exploration Society (SEAPEX)

Abstract


Proceedings of the South East Asia Petroleum Exploration Society Volume II, 1975
Pages 186-199

Technology and Money are Keys to Meeting World Energy Needs*

John L. Kennedy

Abstract

Massive amounts of money and technology, along with people and their ingenuity, are needed to meet world energy needs. The enormous supply demand being laid on the energy industry is increasingly being influenced by government regulated pricing policies, environmental restraints, and speculated development of alternate energy sources.

In consuming nations throughout the world, present emphasis is being placed upon development of domestic oil and gas supplies, where any such potential exists. However, generation of needed risk capital for oil and gas exploration, unfortunately, must compete with inflationary development project budgets. Rising costs make it essential that more efficient drilling methods and equipment be developed to stretch current capital capabilities.

Alternate energy sources, such as nuclear power, coal, shale oil and tar sands, are getting renewed attention, but environmental restrictions, capital finance, and production and equipment problems are delaying, and even deferring, their development.

With projections that vast amounts of capital funds are needed within the next ten years for exploration and drilling, processing facilities, pipelines, offshore operations, and drilling contractor services - the petroleum industry is facing unprecedented expansion and complexity.


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