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Title: Capital Requirements For The Natural Gas Industry
Author: Kenneth E. Hill
Source: American Gas Association 1975
Year Published: 1975
Abstract: At the beginning of 1970, I was asked to outline the financial requirements of the petroleum industry for the decade of the 1970s before the Finance Division of the American Petroleum Institute. In a lengthy analysis I concluded that the worldwide petroleum industry would spend about 250 billion over the ten years, about half in the United States. I also suggested that prices for crude oil throughout the world would remain essentially stable over the period, while prices for natural gas within the United States would rise approximately 50 percent to 25 cents per MCF by 1980. Now that we are half way through the decade, much of that forecast has been rendered obsolete by the drastic changes in control of pricing and production of international oil instituted by OPEC in recent years, the upward effect this has had on prices for oil and natural gas, and the worldwide inflation this action is largely responsible for.

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