General Trend of the Demand for Energy in the World and in Australia

INCREASE OF THE OIL CONSUMPTIONIt is of the greatest interest to study the prospects open today for the petroleum industry by looking back to the past years.The' results for the past 15,years can be said. to be- satisfying; - the develop-ment of the petroleum industry has sustained a very fast tempo and the world consumption of energy has around the years 1960-1961 - reached aòpeak figure.Undoubtedly, the petroleum industry is the principal beneficiary of the growth of world, energy demand. For the caning years a slackening of the rate of expansion is'. likely to be expected; but will. not alter the general trend. This ' slackening of expansion may be explained, partly by a better use of the energy consumed and by the increased use of new types of energy, mainly natural gas.Although.the development of world energy demands follow structural and tech-nical modifications".,-At. can be foreseen, without any doubt, that the petroleum products. consumption. vri 11 be less affected than any other type of energy by this limited reduction in the rate of increase.