Certain external factors continue to influence new capacity deci- EXTERNAL FACTORS
sions. These include high expenditures required for environmental
purposes; the still inadequate though improving return on investment;
prospective energy deficiencies; government price control regulations;
raw material supply problems, tariff discrimination in certain foreign
markets; and more attractive investment opportunities, both here and
abroad, outside of the paper industry.

Several new features are contained in this year's survey. Data were NEW SURVEY FEATURES
obtained on fiber consumption by mill, a summary of which is con-

tained in Table 6. This part of our survey reveals that waste paper
consumption will show the largest percentage gain with an annual aver-
age increase of 5.7% in 1974 and 1975, and that the industry will
continue to increase its reliance upon secondary fiber sources. For the
first time in this century, wood residues, waste paper and other second-
ary fibers will constitude more than half of our fiber consumption.