Energy Policies Will Determine Future Petroleum Imports

The president of the American Petroleum Institute recently said that the future level of petroleum imports into the U.S. will be heavily influenced by the energy and environmental policies pursued by the U.S. Government.

Addressing a session at the 13th World Petroleum Congress in Buenos Aires, Argentina, Charles J. DiBona said that most experts expect U.S. oil consumption to grow domestic oil production to fall, and imports to increase in the coming decade. He cited recent studies by the U.S. Department of Energy which projected an import level equal to between 61 and 66 percent of consumption in the year 2000.

By contrast, the current U.S. import level is slightly below 50 percent.

Mr. DiBona noted that the U.S.

has a large resource base, 39 to 82 billion barrels of undiscovered recoverable oil and natural gas liquids, with a mean estimate of 58 billion barrels; and 307 to 507 trillion cubic feet of undiscovered recoverable natural gas, with a mean estimate of 399 trillion cubic feet.

Much of these resources, Mr.

DiBona told the gathering, are contained in onshore and offshore lands owned or managed by the Federal Government.

Other stories from November 1991 issue


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