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The outlook for oil
Author(s) -
Desprairies Pierre
Publication year - 1990
Publication title -
natural resources forum
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.646
H-Index - 49
eISSN - 1477-8947
pISSN - 0165-0203
DOI - 10.1111/j.1477-8947.1990.tb00520.x
Subject(s) - economics , investment (military) , natural resource economics , coal , oil price , supply and demand , fossil fuel , unit (ring theory) , business , monetary economics , macroeconomics , waste management , engineering , politics , political science , law , mathematics education , mathematics
Between now and 2000, the demand for oil is expected to be moderate and the supply abundant. Economic growth is almost twice as slow as in 1973 and requires 25–30% less energy per unit of GNP. The demand for oil is therefore growing at a rate of two to three times slower. Meeting the demand for oil between now and 2000 is within the capability of the oil‐producing countries, in many cases with modest additional investment. Gas and coal will be very cost competitive in relation to oil and will serve as a break on future explosive price increases.