About This Item
Share This Item
The recent exponential growth in the numerate handling of energy resource data has not been matched by increased knowledge of basic concepts and adequate gain in hard facts. Constant reiteration of those concepts and of the softness of most "facts" is necessary in order to avoid the dangers of pseudo-precision. This is true for both potential supply and potential demand. Consumption will be dictated increasingly by available supply. This is the reverse situation from that of the past 30 years. Increasing scarcity will not only enhance the importance of discovery forecasting but will emphasize the interdependence of all factors affecting the worldwide supply and demand balance. No one energy source and no one country can be considered in isolation. Petroleum and the United States are no exceptions.
Petroleum must be considered in the context both of other energy sources worldwide and in its optimum end-use future. The United States is only one unit in what may well be an energy-hungry world. Its own needs and the success of its petroleum industry, both in domestic and foreign fields are important, but their relevance, both locally and globally, depend on both discoveries and demand in many other countries.
End_of_Article - Last_Page 473------------