VOL. XXXVII

NO. 31

2-MAY-1994

Basic Questions About Oil

by Edward N. Krapels

The following article is based on a speech delivered by Mr. Edward Krapels atthe CGES in London on 12 April. Mr. Krapels is President of the Washington-basedconsulting firm Energy Security Analysis Inc. (ESAI).

Will oil prices ever recover to $25/B? Can OPEC regain its lost influence?Are refinery investments ever going to become truly profitable? These are theessential questions in our industry, and they challenge us to...