Abstract
Ten years after the Oil Crisis, the petroleum situation here and abroad has greatly changed. Consumption of petroleum has dropped significantly due to efforts made in energy saving and conversion to petroleum alternative energies. Petroleum supply situation is relaxed and OPEC price of Arabian Light crude has dropped by $ 5.00/bbl.
While supply relaxation trend is expected to further continue, IEA warns the danger of meeting another oil crisis around the end of 1980s unless energy saving and development of petroleum alternative energies ars further expedited.
The Advisory Committee for Energy, in its paper entitled “Long Term Energy Supply and Demand Forecast” (Nov. 1983), states the necessity to contemplate securing a stable supply of energy, reducing the cost of energy and realizing an optimum energy structure, as a long range energy policy of Japan. Further, it forecasts significant increases in the supply of Synfuels and new energies from 1995 to 2000.
The Japan National Oil Corporation, New Energy Development Organization, RAPAD and others are efficiently conducting research and development of relevant technologies on priority basis, taking into consideration long and meduim range economics. Attainment of technologies excelling in technical and economical aspects is expected by early 1990s.
