Student Scholarship

Document Type

Research Paper

Abstract

This document, submitted by Ann Frazier in 1953, presents a comprehensive study of petroleum resources, production, and consumption within the United States and foreign countries, specifically examining their relationship to national welfare and security. The research highlights that while the United States was the world's leading consumer and producer at the time, accounting for over half of global oil production and roughly sixty percent of consumption, its domestic reserves were a waning asset that could not be renewed. The author challenges the alarmist view of imminent exhaustion by distinguishing between proved reserves and total resources, noting that vast quantities of oil remained undiscovered or could be reclaimed through improved secondary recovery methods. Furthermore, the study identifies three major intercontinental depressions—the Near East, the Gulf of Mexico/Caribbean, and the Far East—as the primary natural reservoirs for the earth's petroleum. +4

A significant portion of the paper focuses on the necessity of a strong foreign oil policy to safeguard national defense. Frazier argues that American interests must maintain control over foreign reserves to ensure high living standards and military readiness, particularly as the nation faced the probability of becoming a net importer. The study also explores the historical evolution of the industry, from primitive competition to the efficient monopoly of the Standard Oil group and the modern era of scientific management. Looking toward the future, the author posits that the advent of atomic power would likely supplement rather than replace petroleum, primarily by displacing residual fuel oils in stationary power plants while petroleum remained essential for lubrication and automotive transport. The work concludes with recommendations for a national policy that fosters competitive free enterprise, promotes research into synthetic liquid fuels, and provides firm diplomatic support for American nationals operating abroad to ensure global resource development for the benefit of all peoples.

Research Highlights

  • The Problem: Evaluating the relationship between petroleum resources, production, and consumption in the United States and foreign countries to determine their impact on national welfare and security. 

  • The Method: Analysis of historical industry development phases; global oil-producing areas; and comparative per capita consumption statistics through January 1953. 

  • Quantitative Finding: The United States produces approximately 60% of the world's daily petroleum output; domestic proved reserves were estimated at 20 billion barrels in 1953, with a per capita consumption of 450 gallons annually compared to a world average of 15 gallons; total original discovered volume in the U.S. is estimated at 120 billion barrels, with 70 billion barrels remaining in depleted fields. 

  • Finding: Global petroleum concentration is centered in four major areas—the United States, South America, the Middle East, and Russia—with 90% of proved reserves located in intercontinental depressions such as the Persian Gulf and the Gulf of Mexico/Caribbean basins. 

  • Finding: National security depends on maintaining domestic productive capacity and transitioning to synthetic liquid fuel production from natural gas, oil shale, and coal to ensure long-term energy independence. 

Publication Date

1-1953

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