VOL.XXXVI
NO.50
13-SEPTEMBER-1993
Forecasting Oil Trends: Mirrors Or Telescopes?
The following is the text of the speech deliveredbyJohn
H. Lichtblau at the ninth Asia-Pacific Petroleum Conference (APPEC'93)heldinSingapore on 13 September1993.Mr.
Lichtblau is Chairman of the New-York basedPetroleumIndustry Research Foundation, Inc.
Forecastingis an essential planning tool for any industry.
Itisparticularlyso for the oil industry where investments,especially in theupstreamsector,oftendonot
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