Review of Long-term World Oil Outlook: Petroleum Product Imports : and Energy-related Tax Reform Proposals : Hearings Before a Subcommittee of the Committee on Government Operations, House of Representatives, Ninety-ninth Congress, First Session, April 1 and 2, 1985, Volume 4U.S. Government Printing Office, 1985 - 901 pages |
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Page 1
... decline and , instead , jumped 8 percent - the first annual increase since 1979. Domestic oil consumption rose 3 percent . Oil prices are relatively low , and this , no doubt , is one reason why our consumption and import levels are ...
... decline and , instead , jumped 8 percent - the first annual increase since 1979. Domestic oil consumption rose 3 percent . Oil prices are relatively low , and this , no doubt , is one reason why our consumption and import levels are ...
Page 2
... decline in the next few years . If this proves to be true , then I suggest our oil outlook may be more perilous than ... declined 35 percent - from over 300 to just over 200 in number . About 2 million barrels per day of capacity was ...
... decline in the next few years . If this proves to be true , then I suggest our oil outlook may be more perilous than ... declined 35 percent - from over 300 to just over 200 in number . About 2 million barrels per day of capacity was ...
Page 15
... DECLINE . THE REAL PRICE OF IMPORTED CRUDE OIL HAS FALLEN ABOUT 40 PERCENT SINCE 1981. DESPITE CONTINUED HOSTILITIES IN THE MIDDLE EAST , OIL PRICES ARE EXPECTED TO REMAIN WEAK . TODAY , IT APPEARS THAT THE ECONOMIC IMPACT OF ANY 15.
... DECLINE . THE REAL PRICE OF IMPORTED CRUDE OIL HAS FALLEN ABOUT 40 PERCENT SINCE 1981. DESPITE CONTINUED HOSTILITIES IN THE MIDDLE EAST , OIL PRICES ARE EXPECTED TO REMAIN WEAK . TODAY , IT APPEARS THAT THE ECONOMIC IMPACT OF ANY 15.
Page 17
... DECLINED BY OVER 1 PERCENT ANNUALLY . FROM 1973 DESPITE THE DECLINE IN THE REAL PRICE OF OIL SINCE 1981 , CONSUMERS CONTINUE TO IMPROVE ENERGY EFFICIENCY AND REPLACE OIL WITH ALTERNATE FUELS . FROM 1973 TO 1984 , TOTAL U.S. ENERGY ...
... DECLINED BY OVER 1 PERCENT ANNUALLY . FROM 1973 DESPITE THE DECLINE IN THE REAL PRICE OF OIL SINCE 1981 , CONSUMERS CONTINUE TO IMPROVE ENERGY EFFICIENCY AND REPLACE OIL WITH ALTERNATE FUELS . FROM 1973 TO 1984 , TOTAL U.S. ENERGY ...
Page 18
... DECLINE IN OIL CONSUMPTION , LESS OIL IS NEEDED IN INVENTORY TO MAINTAIN DISTRIBUTION , MARKETING AND REFINERY OPERATIONS . THE STRUCTURE OF THE OIL MARKET HAS CHANGED , REDUCING WORKING STOCK REQUIREMENTS . OIL SUPPLIES ARE RELATIVELY ...
... DECLINE IN OIL CONSUMPTION , LESS OIL IS NEEDED IN INVENTORY TO MAINTAIN DISTRIBUTION , MARKETING AND REFINERY OPERATIONS . THE STRUCTURE OF THE OIL MARKET HAS CHANGED , REDUCING WORKING STOCK REQUIREMENTS . OIL SUPPLIES ARE RELATIVELY ...
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Expressions et termes fréquents
analysis average barrels a day barrels per day benefits BOGGS BUSTAMANTE Chairman Chart CLINGER competitive consumers costs countries crude oil crude petroleum decline decontrol Department of Energy dollar domestic oil drawdown economic effects energy security estimate forecast foreign fuel oil gasoline gasoline imports impact import fee independent refiners investment losses major Middle East million B/D million barrels naphtha national security natural gas OECD oil and gas oil companies oil imports oil market oil prices oil production oil supply OPEC operating percent percentage depletion Persian Gulf petrochemical petroleum product imports potential price increases price shocks problem reduce refineries refining capacity result revenues Saudi Arabia sources stockpiles Strategic Petroleum Reserve stripper subcommittee supply disruptions SYNAR tariff tax proposals tax rates Thank tion trade Treasury U.S. imports U.S. market U.S. oil U.S. refineries United vulnerability Windfall Profit Tax world oil
Fréquemment cités
Page 561 - This option applies to all expenditures made by an operator for wages, fuel, repairs, hauling, supplies, etc., incident to and necessary for the drilling of wells and the preparation of wells for the production of oil or gas.
Page 591 - Council is a federation of 44 state and regional trade associations representing thousands of independent small business petroleum marketers. Members include gasoline and diesel fuel wholesalers, commissioned distributors of gasoline, gasoline reseller-retailers and a large number of retail fuel oil dealers. Members also wholesale or retail many other petroleum products, including kerosene, LI* gas, aviation fuels and motor oils as well as residual fuel oil.
Page 477 - Without import controls the domestic wellhead price would fall from $3.30 per barrel to about $2.00, which would correspond to the world price. Although we cannot exclude the possibility, we do not predict a substantial price rise in world oil markets over the coming decade.
Page 360 - In the past there has been a tendency to deal with politically difficult problems of this nature only in a crisis. Unfortunately, our Country's Inability to address and resolve such problems in advance of a crisis cost the US economy in the 1970's billions of dollars in addition to a loss of policy flexibility and significant additional costs in the areas of both foreign policy and defense. In the absence of any indication of a policy shift by the US Government, it is reasonable to anticipate that...
Page 486 - I an economist with the Congressional Research Service of the Library of Congress. I would like to thank you for the invitation to appear before you today to discuss...
Page 578 - ... and production of crude oil and natural gas in the United States, and would eliminate the percentage depletion allowance, an important source of cash flow for many independent producers.
Page 599 - Marketers Association Colorado Petroleum Marketers Association Independent Connecticut Petroleum Association Florida Petroleum Marketers Association Georgia Oilmen's Association Idaho Oil Marketers Association Illinois Petroleum Marketers Association...
Page 350 - I would be glad to respond to any questions the committee may have. [The prepared statement of Mr.
Page 12 - BEFORE THE ENVIRONMENT, ENERGY, AND NATURAL RESOURCES SUBCOMMITTEE OF THE COMMITTEE ON GOVERNMENT OPERATIONS US HOUSE OF REPRESENTATIVES APRIL 1, 1985 MR.
Page 517 - IMPACT ON THE NATIONAL ECONOMY OF REPEALING THE EXPENSING OF INTANGIBLE DRILLING COSTS Introduction This study examines the impact on the United States' economy of repealing the expensing of intangible drilling costs. Under current tax law, intangible drilling costs (IDC's) are defined as expenditures that in themselves do not have salvage value and are incident to and necessary for the drilling of wells and the preparation of wells for the production of oil and natural gas. Examples of intangible...