Col 4 for current year is equal to or less than Col 5+ Col 6 for state in Table I TABLE IV (For Individual States): Col 4 Col 3 = State total in Col 8 of Table I TABLE V (For Individual States): Col 2 + Col 3 Col 4 = State total in Col 2 of Table IV TABLE VI (For Individual States): Total of Col 2 = State total in Col 2 of Table IV TABLE VII (For Individual States): Col 2 Col 3 = State total in Col 2 of Table IV An annual report containing operating statistics for the U.S. petroleum industry by years, and months for the latest two years for which data are available. The next issue which will include data for 1956-1973 will be available in April 1974. Joint Association Survey (Sections I and II-1972) Published jointly with the Independent Petroleum Association of America, and the Mid-Continent Oil & Gas Association. Section I includes the estimated cost of drilling oil wells, gas wells, and dry holes by depth range for major areas in the United States. Section II includes estimated expenditures for oil and gas exploration, development, and production in the United States. Price per copy. U.S., Canada and Mexico $4.00 Liquefied Petroleum Gas Report A monthly publication which includes inventories of liquefied petroleum and liquefied refinery gases located at plants and refineries, and in underground storage, by areas, and by individual products. MONTHLY REPORT ON DRILLING ACTIVITY IN THE UNITED STATES A monthly publication which shows by states the number of oil wells, gas wells, dry holes, stratigraphic and core tests, and service wells, reported as completed to the American Petroleum Institute; and a table showing exploratory wells (oil, gas, and dry) by states. Also includes a summary of oil wells, gas wells, and dry holes in the development and exploratory categories. Annual Subscription, including First Class postage to U.S., Canada and Mexico (twelve issues) $12.00 PAGE 2 Magnetic Tape Files for Well and Drilling Statistics These tapes contain data for all wells reported in 1967-1973. Reported wells include all developmental wells, exploratory wells, stratigraphic and core tests, service wells, and old wells drilled deeper related to exploration and the production of crude oil and natural gas. Prices available upon request. Includes quarterly and annual tabulations of U.S. drilling statistics compiled by the American Petroleum Institute. Wells and footage drilled are reported by type of well for each state and major areas of states. Special tabulations are also shown for multiple completion wells. Reserves of Crude Oil, Natural Gas Liquids, and Natural Gas in the United States and Canada and United States Productive Capacity as of December 31, 1973 Published jointly with the American Gas Association and the Canadian Petroleum Association. Report for 1973 (available in June 1974) will include end of year reserves data for crude oil, natural gas liquids and natural gas in the United States and Canada. U.S. data include ultimate recovery and original oil-in-place by year of discovery; and reserves of crude oil and natural gas by reservoir lithology, geologic age of reservoir rock, and type of entrapment. A weekly publication containing U.S. data relating to refinery activity and principal inventories; crude oil and product imports; crude oil production; gasoline consumption by states; etc. Annual Subscription, including First Class postage to U.S., Canada and Mexico Technical Report No. 1: "Standard Definitions for Petroleum Statistics," $17.50 Instructions for Completing Individual Well Tickets for U.S. Drilling The following items are published annually. $.25 each, plus postage for multiple copy orders. SUMMARY OF DISABLING WORK INJURIES IN THE PETROLEUM INDUSTRY SALES OF WAX BY END-USE CATEGORIES REPORTED FIRE LOSSES IN THE PETROLEUM INDUSTRY Chairman PROXMIRE. Gentlemen, we are very fortunate to have this morning three men who represent agencies and who personally probably know as much about the energy shortage as any three men we could possibly have as far as the statistics and available information that exists. Mr. Rigg, you have responsibilities, I indicated when I introduced you, over four of the most important agencies that gather information in the petroleum field. Mr. Shiskin, you are the most responsible person in our government for price statistics, not only in petroleum but other agencies. And Mr. Hodges, you speak for the industry association which has provided most of the material that is available. I would like to ask you, Mr. Rigg, and Mr. Hodges, particularly, and I will come to Mr. Shiskin on other questions later-I would like to ask Mr. Rigg and Mr. Hodges about the actual existence of an energy shortage. I would like to have you give us a little documentation on it because I think the American people want that, would like to hear it, would like to hear some justification. As you know, there is a lot of skepticism about the extent and even the existence of the oil shortage. At least two recent quite authoritative and impressive articles throw further doubt on the matter. An article in last week's Science magazine shows that the demand for energy is down, demand is down and supplies are up. According to it: Incoming supplies and stockpiles are larger than they were one year ago and that overall major inventories are greater than those of a year ago. In yesterday's Washington Post Christopher Rand writes, and I quote: "There is no gasoline shortage." There is no gasoline shortage in January because there was no crude oil shortage in December. Rand maintains that if Caribbean refineries owned by the majors are taken into account, there is a refinery capacity shortfall of only 500,000 barrels a day, or 3.1 percent of the total demand, but that the companies' own product stocks stood at 513.7 million barrels on December 21, enough for 1,000 days of shortfall. What is your response to these statements? Has the shortfall actually occurred, are we talking about a prospective shortage which has not occurred but which may materialize in the future? Mr. RIGG. Mr. Chairman, I read Mr. Rand's article in the paper yesterday also. I do believe there is an energy shortage. Now, I use the term "guardedly" in the respect of using it as far as availability goes. As you look at the world there is plenty of oil in the world for our needs. If you look at the United States Chairman PROXMIRE. That is fascinating. That statement coincides with what Ralph Nader told us. He had a little more colorful language. He said the world is drowning in oil. You said there is plenty for our needs worldwide if we could get it. Mr. RIGG. But it isn't available and it is the same thing domestically. We haven't increased our domestic refining capacity of any marked degree and many of the refineries suffer from what I call energy octogenarianism, pretty old and inefficient. Chairman PROXMIRE. Are Caribbean refineries available to us? Mr. RIGG. Yes, they are, and they are putting refined products into the United States from the Caribbean area, but also you have |