Evaluation of future world oil prices

An analysis is presented which documents an application of several EIA macroeconomic and energy models to the evaluation of higher world oil prices in the 1980's. Previous work, which was documented in Volume II of the Administrator's Annual Report, used these EIA models to assess a 5 percent annual real price increase during the 1980's. The work presented here is an assessment of more severe price increases and includes several adjustments that have been made to the models in order to assess the higher world oil prices.