... hemisphere Africa Europe petroleum industry construction free world middle east petroleum consumption growth rate hemisphere UNITED STATES DEPARTMENT of the INTERIOR * * * * * * * * * * * * * * * * * * * * * news release For Release to PM's, FEBRUARY 19, 1962 ADDRESS BY JEROME J. O'BRIEN...

... CONSUMPTION \After World War II, it became obvious that great supplies of energy had to be developed if foreign areas were to grow and prosper in the post-war world. The task of supplying the bulk of this energy has fallen to oil. \In 1961, there were 'es in the Free World which cons~ more than 250,00 barrels...

... in the ground at the then going rate of domestic consumption. The entire Free World's supply, based As a result of war demands for petroleum products, very little shut-in reserve capacity on proven reserves and daily production, was 22 years. existed in this country. Of course, a few producing fields...

..., measured and indicated reserves approximate 185 billion metric tons of conventional fuel, or about 200 years' consumption at the 1959 level. Of these, about llrO are ascribed to coal and lignite; 23 to 2 peat; 6 to shale; 14 to petroleum; and 2 to natural gas. In general, the locations of these developed...

.... will approximate 4 to 5 percent/year over the next decade. It is estimated that demand will approach 14million B/D by 1967 compared with approximately 9.5 million B/D today; it is further estimated that the Free World oil consumption will increase at an average rate of approximately 7 to 8 per cent/year, nearing...

... capacity in Canada has been tripled. to a current BOO, 000 barrels daily - an expansion that has kept pace with a near tripling in twelve years of Canadian petroleum consumption. Canadian consumption is now over 17 barrels per capita annuallya close second to U. S. per capita consumption. (4) au productive...