Petroleum and the Capital Crunch

There is growing national recognition that the U.S. is in trouble on energy. Demand is rising, but output is lagging. Oil production has peaked and is declining, natural gas is in short supply, nuclear power is behind schedule, and synthetic fuels are years away from volume production. Boosting output to provide even a minimum level of domestic energy security will require tremendous capital investments. Sun Oil Compnay, as a longtime supplier of petroleum energy, is concerned about the energy squeeze and its likely impact on social and economic progress as our nation seeks to achieve its goals. This study, reflecting that concern, presents one company's views of the nature of the problem, its causes, and actions necessary for solution. The purpose of completing and publishing the study is to contribute to public and governmental understanding of energy policies that will serve the national interest.