This article examines the future of the petroleum industry. Opportunities are seen for the companies that are willing to explore aggressively for those resources that will provide the base for future earnings. These upstream companies must consider many variables, which can be grouped into three main categories: the geological potential for significant new reserve additions in all parts of the world; the company's ability to adapt to price uncertainties and successfully target acreage that will provide a desirable economic return; and the existing political and social climate. While the primary goal of any company is to improve its financial performance, the major challenges to be faced by the industry in the future will be as much social as economic. The public is concerned about the industry's ability to operate safely and in an environmentally responsible manner. These concerns include the safe transportation of petroleum products, global warming, depletion of the ozone layer, acid rain, and protection of the purity of air and groundwater. Questions examined include: In what direction are oil and gas prices going to go? What does the future hold for supply and demand? and What are the incentives for developing U.S. frontier reserves (Gulf of Mexico, Arctic National Wildlife Refuge, California and Florida OCS)?

  • Availability:
  • Corporate Authors:

    PennWell Publishing Company

    1421 South Sheridan, P.O. Box 1260
    Tulsa, OK  United States  74101
  • Authors:
    • Nicandros, C S
  • Publication Date: 1989-11-13

Media Info

  • Pagination: 3 p.
  • Serial:
    • Oil and Gas Journal
    • Volume: 87
    • Issue Number: 46
    • Publisher: PennWell Publishing Company
    • ISSN: 0030-1388

Subject/Index Terms

Filing Info

  • Accession Number: 00489772
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Nov 30 1990 12:00AM