SUPPLY: Running Short, No Matter What

The growing chorus of Cassandras warning of potentially disastrous oil shortages gets a powerful new voice this week. In a 291-page report to be released at simultaneous press conferences in eleven countries, a group of 35 experts concludes that by the year 2000 oil production in the non-Communist world could fall short of meeting demand by 15 million to 20 million bbl. per day —about as much as the U.S. uses now. Moreover, the shortfall is likely to occur even if coal production doubles, the output of nuclear-generated power multiplies 15 times, conservation measures cut the increase in petroleum...

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