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Why the Oil Crisis Will Persist

World demand for conventional oil is outstripping world supply. Crude oil production in the Persian Gulf has been nearly flat at just over 20 mbd since the early 1970s. The growth in world supply since that time has come from oil fields outside of the Middle East, but many of them have reached their production limits and important ones are in decline. There are few prospects for mega-discoveries that could keep up with fast-growing world demand.

Tags: 2008, energy, peakoil on 2008-10-04 and saved by2 people -All Annotations (6) -About

in list: Energy

more fromwww.sciam.com

The greatest irony about the Bush Administration is that it correctly focused on energy needs at the start of its first term, but then got everything wrong in the strategy.
World demand for conventional oil is outstripping world supply. Crude oil production in the Persian Gulf has been nearly flat at just over 20 mbd since the early 1970s. The growth in world supply since that time has come from oil fields outside of the Middle East, but many of them have reached their production limits and important ones are in decline. There are few prospects for mega-discoveries that could keep up with fast-growing world demand.
oday, China has around 50 million cars, trucks and buses (roughly 40 per 1,000 people), compared with around 240 million in the U.S (roughly 800 per 1,000 people). If China attains just half of the U.S. per capita ownership of passenger vehicles, it would have some 500 million of them, roughly twice as many as the U.S.
Vehicle production in China has already tripled, from fewer than three million vehicles in 2000 to around nine million vehicles in 2007
Low-cost cars such as the Tata Nano, India’s newly unveiled $2,500 compact sedan, will bring auto ownership within reach of hundreds of millions of newly middle-class households worldwide in the coming decades.
China and India alone could add another 25 million vehicles per year in a decade; they could easily add another 500 million within 30 years. Conventional oil has little prospect of keeping up with this soaring demand.

Financial, Energy or Climate Crisis - take your pick

Tags: 2008, energy, climate, peakoil on 2008-09-26 -All Annotations (0) -About

in list: Energy

more fromenergystandard.blogspot.com

The International Oil & Gas Newspaper

Current oil prices

Tags: energy, peakoil on 2008-09-02 -All Annotations (0) -About

more fromwww.upstreamonline.com

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A Net Energy Parable: Why is ERoEI Important?

Energy return-on Energy Input - how efficient are we in producing energy?

Tags: energy, 2006, economy, peakoil, sustainability on 2008-08-30 -All Annotations (0) -About

more fromwww.theoildrum.com

Net energy is more important from a relative basis than absolute. A 3:1 EROI doesn't tell us much unless we know how that compares to what an organism/society has been built on/used to. A 2:1 EROI would have made stone age villagers incredibly rich. A 5:1 EROI may not be enough to power our society.
Energy reserves are not as important as energy flow rates.
Adding high EROI wind capacity while net energy of oil dwindles does not solve the problem, unless the energy mix changes from liquid fuels to electricity
Rather than pursuing the highest and most promising energy technologies, it might be prudent to pursue ones that are certain, and meet the net energy decline half-way by reducing energy footprints.
Since evolution has favored organisms that have the highest energy output energy input ratios, it will be a cognitive challenge for us (as organisms) to willingly reduce the numerator.
Our collective task will be to improve our net (total cost) energy from renewables while changing the infrastructure of society to best match what our long term sustainable energy gain can be.