Economic growth in South East Asia accelerated in the past ten years. But a period of adjustment lies ahead, as it does for most of the Third World countries. Escalation of oil prices has slowed expansion of world oil demand and encouraged major consuming countries to switch to alternate fuels and to seek diversification of supplies in the interest of energy independence. Petroleum sales in Japan, the major outlet for oil exports from South East Asia, have stagnated, but exports to the United States offer a substantial alternate market as future domestic supply in that country falls off. By the year 2000, petroleum imports into the United States may total over 10 million barrels daily, double the level of 1982, if U.S. oil production declines as forecast. Greater penetration of this market by South East Asian producers may require a re-orientation of marketing strategies.

You can access this article if you purchase or spend a download.