Chile: the balanced view : a recopilation of articles about the Allende years and after

National production Refinement of Total normal Year 01 crude petroJeum crude petroleum* consumption Imports (figures in thoúsands of cu m) 1969 2,122 4,604 4,970 2,848 1970 1,977 4,404 5,632 3,655 1971 2,048 5,807 5,998 3,950 1972 1,991 5,916 6,173 4,182 1973 1,850 5,750 6,252 4,402 1974 2,220 6,500' . 7,350 5,130 1975 2,100 7,100' 8,050 5,950 1976 2,020 7,100' 8,800 6,580 1977 1,990 7,100' 9,550 7,560 1978 2,060 7,100' 10,200 8,140 1979 2,050 7,500' 10,200 8,750 1980 2,140 11,000' 12,200 10,060 1981 2,250 12,000' 12,950 10,700 1982 2,360 12,500' 13,400 11,240 1983 2,480 12,500' 14,400 11,920 *Very tentative figures. The projected growth takes ¡nto account the fact that coal, wood, and hydroelectricity will continue to contribute approximately 40 percent of the national energy supply. This figure is consistent with the proposed expansion of coal production in the Arauco area, without which the demand for petro'leum would increase even more. In turn, the projected importation of crude petroleum represents a considerable in– crease in the expenditure of foreign currency. In fact, ta~ing ¡nto account present prices or. predictable future pressures, expenditures of foreign currency may be projectedas fo– lIows: Price Expenditure on ímports Expendíture al Year (US$ cu m) (US$ millíons) acceptable future price 1974 63 323 323 1975 82 488 .300 1976 82 540 280 1977 82 620 310 1978 82 667 335 1979 82 718 360 1980 82 825 410 1981 82 877 435 1982 82 922 460 1983 82 977 490 Even if the price of crude petroleum drops considerably below the level predicted in the preceding table, the cost in foreign currency will be appreciable. Furthermore, if one considers that the nation's present maximum refining capacify is 226