ABSTRACT
In this context, a most fundamental element in determining optimistic or pessimistic attitudes in the industrial world quite obviously resides in how expectations and actual outcomes of policies of other actors are perceived, not least of which are, of course, those of the oil-producing countries. While this certainly explains the above-mentioned risk aversion counter measures adopted, it also would hold, and appears, that the associated processes of reorientation of activity-mix and consumption composition of primary energy sources in the industrial world have not yet reached a stage and level of consolidated irreversibility. On the basis of the preceding analysis, some tentative comments may be advanced concerning the possible future of oil planning and production. In approaching long-term problem of oil planning and production, In order to look for oil without being able to start production as soon as possible, the industry would have to change its financial structure in a way that appears practically impossible in the present economic climate.
