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Oil Tomorrow: Supply Conditions in the Coming Decade

Abstract:
The events of the recent past serve to underscore the cyclical nature of the petroleum business. From the boom years of the 19?0s to the bust years of the 1980s, the oil industry has struggled to adapt to changing circumstances. The condition of stagnation and contraction masked the real long-term investment requirements of the industry and narrowed investment opportunities. All in all, the period wreaked havoc on investment budgets, the industry's most strategic component.

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Energy Specializations: Petroleum – Markets and Prices for Crude Oil and Products; Energy Modeling – Forecasting and Market Analysis

JEL Codes: Q41: Energy: Demand and Supply; Prices, Q40: Energy: General, Q35: Hydrocarbon Resources, Q38: Nonrenewable Resources and Conservation: Government Policy, L71: Mining, Extraction, and Refining: Hydrocarbon Fuels, Q01: Sustainable Development

Keywords: Oil supply, OPEC, Oil industry, Invsestment, Forecasting

DOI: 10.5547/ISSN0195-6574-EJ-Vol11-No1-1


Published in Volume 11, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.