NO. 36


OPEC: The Question Of New Oil

by Alirio A. Parra

The following is the full text of a paper presented by Dr. Alirio Parra atthe Fifth Annual Conference of the Centre for Global Energy Studies (CGES), heldin London on 10-11 April. Dr. Parra, a former Minister of Energy and Mines inVenezuela, is currently Senior Adviser to the Chairman of CGES.

That OPEC's proved reserves are abundant is indisputable. However thewillingness and ability of the major producers to meet the...