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Title: The Outlook For The Petroleum Industry, 1987-91
Author: Gene T. Kinney
Source: American Gas Association 1987
Year Published: 1987
Abstract: The outlook for the oil and gas industry depends to a marked degree on the policy choices made by the U.S. Congress over the next 18 months. Demand for oil is growing once more, but domestic supply of oil and gas is declining steadily. Those trends will continue unless policy changes are made to reverse them, restraining the rising tide of imported oil required to fill the supply-demand gap. The Department of Energy has offered a program to do just that. However, adoption depends entirely on Congress, which in prior years has rejected every major proposal in the government package. The title of this speech is a misnomer. It should read, The Outlooks for the Petroleum Industry, 1987-91. Any particular outlook used to describe the environment of the next few years must be heavily qualified. Uncertainty remains the dominant condition of the marketplace, but it doesnt stop there. It extends to the energy policy that the President and the Congress will choose for this Country. Depending on the policy choices made over the next 18 months, sharply contrasting futures await the oil and gas industry in the United States.

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