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NACSThe Future of Oil: Implications for the Global C-Store Industry

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The Future of Oil: Implications for the Global C-Store Industry
Table of Contents

High and increasing oil prices are the number one strategic challenge faced by the global convenience industry. High petrol prices are changing consumer purchasing behaviours more than any other economic factor and this is particularly true at the pump. High diesel prices and environmental concerns are simultaneously placing immense pressure on C-store supply chains. This report investigates the reasons underlying price increases, predicts the likely future trend for prices and examines implications for the global C-store industry.

VOLUME ONE

1

LIST OF CHARTS

3

INTRODUCTION

4

EXECUTIVE SUMMARY

5

MAIN REPORT

10

1. Oil: Basic Facts and Data

11

1.1. Oil as a Form of Energy

11

1.2. Oil Consumption

13

1.3. Oil Production and Trade

15

1.4. The Price of Oil

17

2. Oil Production

18

2.1. The Commercial Oil Companies

18

2.2. National Oil Companies

20

2.3. OPEC

21

2.4. The Oil Crisis of 1974-85

22

2.5. The Oil Bonanza and its Aftermath

24

2.6. Changing Demand and Supply

26

2.7. The Recovery of Price

27

2.8. The Revival of OPEC Power

28

2.9. The Peak Oil Theory

31

3. Untapped Oil Resources

34

3.1. The USA and Canada

34

3.2. Venezuela

37

3.3. Russia and the Former Soviet Republics

39

4. New Investment and Technology

44

4.1. The Oilfield Services Companies

44

4.2. Developments in the Gulf

49

4.3. Canadian Oil Sands

51

5. Scope for Reduction in Demand

55

5.1. Transportation Use

55

5.2. Non-Transportation Use

56

6. Future Oil Prices

58

6.1. Long Term

58

6.2. Medium Term

58

6.3 Short term

60

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