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Profound shifts in the regional distribution of oil demand and supply growth will redefine the refining industry and transform global oil trade over the next five years, according to the annual Medium-Term Oil Market Report (MTOMR) released by the International Energy Agency (IEA). But it also highlights elevated supply and demand risks.
They’re the same people who had no problem flushing a trillion dollars down the Iraq weapons of mass destruction stimulus for the evil and wealthy. China uses more coal than the U.S., World energy demand could nearly double by 2030, with China and India accounting for over half of the increase.
Natural gas is projected to be the fastest growing fossil fuel, and coal and oil are likely to lose market share as all fossil fuels experience lower growth rates. Toward the end of the period, coal demand in China will no longer be rising and China is projected to become the world’s largest oil consumer. Coal will increase by 1.2%
Bartis and RAND colleague Lawrence van Bibbe were the authors of a 2011 RAND report concluding that if the US military increased its use of alternative jet and naval fuels that can be produced from coal or various renewable resources, including seed oils, waste oils and algae, there would be no direct benefit to the nation’s armed forces.
barely rises in OECD countries, although there is a pronounced shift away from oil, coal (and, in some countries, nuclear) towards natural gas and renewables. A surge in unconventional and deepwater oil boosts non-OPEC supply over the current decade, but the world relies increasingly on OPEC after 2020. Energy demand. Renewables.
Short-term pressures on oil markets are easing with the economic slowdown and the expected return of Libyan supply. Production of conventional crude oil—the largest single component of oil supply—remains at current levels before declining slightly to around 68 mb/d by 2035. —WEO 2011. —WEO 2011.
The vision is fuelled by the fear of climate change and the need to find green alternatives to dirty coal, unpopular nuclear power and unreliable gas imports from Russia. Electric cars in the garages would double as battery packs for when energy supplies are scarce. Alternative is no longer an alternative. Oil is the alternative.
Renewables That Even Coal-Based Utilities Can Love. An on-board computer system will indicate to the driver the remaining power supply and the nearest charging spot. Why not ake it all the way and spend 1 year of Iraq on retrofitting every home in America with nano solar. ► January (13) What Goes Down, Must Go Up?
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