This study is an outgrowth of my contributions to The Oil Daily during 1975-1979. The main problem of writing on a topical subject, of course, is that data are constantly changing and become dated before they go through the publication process. However, I have tried to deal with each section in its historical perspective as well as the future it holds in its past.
The principal areas of original research in the book are the discussions of changing structure and performance of the U.S. petroleum industry where I collected and analyzed a body of data not explored before. Along with its process of acquisitions and diversifications, the book also brought forth the dynamics of U.S. oil industry as witnessed during the last twenty-five years ( 1954-1979).
My study has also focused on the delay and squabbles in formulating a coherent energy policy by the U.S. Government and gives a history of that effort after the breakout of the energy crisis in October 1973. We hope and pray that we have learned lessons from that episode. Only by analyzing the past may we not be subjected to repeat it in future, if the energy situation becomes so desperate again.