3. Western Europe, with 2% of the world's "published proved ore reserves", produced only less than 1% of world production but consumed 27% of the total. The United States had 6% of the petroleum reserves, accounted for 20% of world production, and 30% of world oil consumption. In contrast, the Middle East consumed only 2% of the total but had 34% of world oil production, and 53% of the reserves. Africa consumed under 2% of total but accounted for 11% of the production and 16% of the reserves. This distortion will be more serious in the future, for the potential for increased production in these lesser developed countries is greater than in the highly industrialized countries. One can argue from the figures that the situation in the United States is less critical than that in either Japan or Western Europe. Japan is completely dependent upon imports. Western Europe already imported 55% of its energy needs in 1970 and this is forecast to reach 75% by 1990. Against this the National Petroleum Council's most pessimistic assumption foresees U. S. imports of energy reaching 26% in 1975 and 38% by 1980. But what is a matter for serious concern in Japan and Western Europe is a crisis in the United States for two important reasons. First, Japan and Western Europe have favorable trade balances and strong currencies to accommodate their needs for imported energy. The United States, on the other hand, has so conducted its affairs that its trade balance has become unfavorable and its currency has depreciated. Second and tragically, the United States had a choice. We have vast reserves of coal unutilized and potential reserves of other energy minerals that could be brought into the picture. By foolishness and by folly, we put ourselves in the position in which we find ourselves.