ABSTRACT
In early 1962 the United Nations convened an interregional seminar on the techniques for petroleum development, and Mr. Levy was invited to discuss the basic consideration for oil policies in developing countries. Recognizing that political considerations might make links with Western oil companies difficult, Mr. Levy discussed how these considerations might be handled in light of the changing circumstances of the international oil system. North America will almost certainly have to draw increasingly upon imported oil to meet its expanding needs. In the Eastern Hemisphere, the development of oil resources is being pushed in North Africa, in the Soviet Union, and, of course, in the Middle East where huge quantities of oil have already been proven up. Oil exploration in new areas is an undertaking that requires costly effort, but promises uncertain rewards. A government oil entity often runs into very real difficulties in staffing its operations.
