perm filename USOIL.NS[ESS,JMC] blob sn#133767 filedate 1974-12-03 generic text, type T, neo UTF8
a317  1833  02 Dec 74
U.S.-Oil 210
    LONDON (AP) - The United States ''could be virtually independent of
foreign oil by 1985,'' an official of the federal energy
administration said Monday.
    ''We could even be the exporter of about two to three million
barrels per day,'' C.B. Malin, deputy administrator for international
energy affairs, told a European institutional investor conference
here.
    But he said the United States must and will continue to depend on
foreign oil imports until 1980.
    ''The major contributions to reduced U.S. dependence on foreign oil
will come from Alaskan oil and increased oil production, Atlantic
off-shore oil and coal,'' he added.
    ''Unlike most other major oil importing countries, the United
States has significant proven oil reserves - and potentially vast
undeveloped oil reserves. Indeed, U.S. coal deposits and the
prospects for conversion of coal to oil, portend increases in the
U.S. oil production capability rivaling the known oil reserves of
today's oil exporting countries.''
    But until 1980, Malin said, the security of American oil imports
will continue to be a vital concern and Washington will continue to
press for price reductions.
    
2136pED 12-02
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