In 1979, when the world ex¬perienced the second oil shock, the World Energy Conference set up an Oil Substitution Task Force (OSTF) with the following objectives: (i) to identify and assess the techno¬logical, economic and other factors affecting the substitu¬tion of oil by other energy sources; (ii) to quantify the most likely amount of substi¬tution by making specific as¬sumptions of price and avail¬ability of crude oil; and (iii) to study the sensitivity of oil sub¬stitution to changes in prices and availability of crude oil.
March-April 1984, volume 8, No 5