Abstract
Japan's oil demand hit a peak of 4·05 M b/d in 1978. After that, it steadily declined until it dropped in 1985 to 3·12 M b/d. However, Japan is still the largest oil consumer country in the Pacific Rim region.
Japan's oil supply and demand have a great impact on oil flow in this region. Therefore, it is necessary for Japan to carry out her business with a view to helping to smooth the oil flow in this region rather than balancing supply and demand only in Japan. I believe it is possible for Japan to function effectively as one of the major oil terminals in the Pacific Rim region.
As a major oil consumer, Japan has an international responsibility to shoulder a fair share of the risk involved in the development of oil resources. We should seek new development by actively exchanging information in the private sector as well.
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