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 2
... oil experts predict that U.S. oil production will continue to fall as U.S. oil consumption increases over the next two decades . It is in this context that we should look at some undeniable , yet not too pleasant , facts about the world oil ...
... oil experts predict that U.S. oil production will continue to fall as U.S. oil consumption increases over the next two decades . It is in this context that we should look at some undeniable , yet not too pleasant , facts about the world oil ...
Page 10
... oil demand has gone down even more . When economic growth has been robust , as it was last year at nearly 7 percent , we found oil growth of only about 3 percent . At the same time , production in the United States has also remained ...
... oil demand has gone down even more . When economic growth has been robust , as it was last year at nearly 7 percent , we found oil growth of only about 3 percent . At the same time , production in the United States has also remained ...
Page 11
... oil production and world energy fall comparably . On the consumption side , we have seen price and substitution continue to have an effect . Although the price of oil has fallen con- siderably - and that is certainly welcome - it still ...
... oil production and world energy fall comparably . On the consumption side , we have seen price and substitution continue to have an effect . Although the price of oil has fallen con- siderably - and that is certainly welcome - it still ...
Page 16
... OIL SUPPLY DISRUPTION WOULD BE RELATIVELY MINOR . DEPENDENCE ON OIL FROM THE PERSIAN GULF HAS DECLINED SIGNIFICANTLY ; EXCESS OIL PRODUCTION CAPACITY WORLDWIDE IS ABOUT 10 MILLION BARRELS PER DAY ; OIL DEMAND IS GROWING AT A VERY ...
... OIL SUPPLY DISRUPTION WOULD BE RELATIVELY MINOR . DEPENDENCE ON OIL FROM THE PERSIAN GULF HAS DECLINED SIGNIFICANTLY ; EXCESS OIL PRODUCTION CAPACITY WORLDWIDE IS ABOUT 10 MILLION BARRELS PER DAY ; OIL DEMAND IS GROWING AT A VERY ...
Page 19
... OIL STOCKS WERE ALMOST 3.4 BILLION BARRELS , REPRESENTING ABOUT 81 DAYS OF CONSUMPTION AND ABOUT 125 DAYS OF 1979 NET OIL ... PRODUCTION . TODAY THEY ACCOUNT FOR ONLY 20 PERCENT . OIL IMPORTS TO THE U.S. FROM THE PERSIAN GULF HAVE DECLINED ...
... OIL STOCKS WERE ALMOST 3.4 BILLION BARRELS , REPRESENTING ABOUT 81 DAYS OF CONSUMPTION AND ABOUT 125 DAYS OF 1979 NET OIL ... PRODUCTION . TODAY THEY ACCOUNT FOR ONLY 20 PERCENT . OIL IMPORTS TO THE U.S. FROM THE PERSIAN GULF HAVE DECLINED ...
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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...