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099415 1 (1976-03-16)

handle is hein.gao/gaobadxsf0001 and id is 1 raw text is: 13 1 I.w GAO's Energy Role Precented by Monte Canfield, Jr. Director, Officc of Special Programs U.S. General Accounting Office before The Monthly Meeting of the .ociety of Petroleum Engineers of the American Institute of Mining Lngineers Washington, D.C. March 16, 1976 -- 7o2956 BEST DOCUMENT AVAILABLE 5; Total energy consumption has more than doubled in about 20 years; per capita energy consumption increased by about 40 percent during the same period. On the other hand, domestic energy production has been g owing more slowly; about 3 percen/ per year. Consequently, we havl a growing gap between domestic consumption and production which has been largely made up by oil imports, particularly from the oil-rich Middle East countries. What is the Nation going to do about this gap between domestic production and consumption? We can increase supply, reduce demand, or do some combination of both. At tbheGeneral Accounting Office we are attempting to provide the Congress with insight into the implications of these basic energy facts and the issues with which Congress must grapple in arriving at energy decisions. As you may know, GAO is an independent agency of the Government's legislative branch and has traditionally been called Congress' watchdog j 61~

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