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

...