Industry Scan: Oil and Gas in Australia

Paper Summary:

The oil and gas extraction industry in Australia is comprised of firms that are primarily engaged in producing crude oil, natural gas or condensate and in treating these products on site to produce liquefied or purified forms of oil and gas. The paper presents an industry and environmental scan of oil and gas extraction in Australia. It includes graphs and tables.

Paper Outline:
Products of the Industry
Market Structure
Market Size and Sales
International Environment
Regulatory Environment
Demographics
Industry Problems
Industry Trends and Forecasts
Porter's 5 Forces Model Analysis
Bibliography

From the Paper:

"According to Richard A. Kerr, many economists foresee another half-century of cheap oil; however, a growing contingent of geologists warns that oil will begin to run out much sooner--perhaps in only 10 years or so. The optimists are characterized as mainly those who place their faith in new technology for finding and extracting oil and expect that production will meet rise in demand until about 50 years from now, a period deemed sufficient to identify and develop effective energy alternatives; however, the pessimists suggest that even taking into account the best efforts of the explorationists and the discovery of new fields in frontier areas such as the Caspian Sea sometime between 2010 and 2020, the production oil from wells around the world will peak at 80 million barrels per day, then begin a steady, inevitable decline (Kerr, 1998)."

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