Other energy - Feb 25
by Staff
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Soaring demand this winter has forced power firms in the world's third-biggest energy consumer to increase oil purchases to the highest level in three years, with further spring buying seen as utilities restore depleted natural gas and oil stocks.
Controversy over alleged miscalculation of reserves resurfaced this year after a media report said OPEC producer Kuwait had only about half as much oil as officially stated and Kuwait stopped short of a robust denial. Husseini put the size of Kuwait's proven reserves at 48 billion barrels, compared with its official estimate of 99 billion, which he assumed also includes unproven reserves. He said leading producer Saudi Arabia's proven reserves estimate of 262.7 billion barrels was accurate. ... "If accelerated depletion results in severe and rapid production drops, say within 10 or 15 years, that can't be good for the global economy," said Husseini. "On the other hand, if reserves are left untapped for 30 or 40 years, the world will have moved on to other fuels and the remaining reserves may become irrelevant." ... "For me, the key question is not the reserves, but investment policies in the key producing countries," said Fatih Birol, the IEA's chief economist. "If countries don't invest, it doesn't matter if they have one billion, or two billion or three billion barrels," he said. Despite Birol's conviction the reserves' size is not the overriding issue. The IEA is working, together with other institutions, to achieve more transparent data. He admits the task is extremely difficult.
"There are no technical barriers to making ethanol from woody material today," said Lonnie Ingram, a microbiologist and professor at the University of Florida. Ingram said the goal of research like his is to make renewable energy from woody or cellulosic material such as sugarcane stalks, corn stalk and leaves, municipal grain waste, trimmings from trees moved for utility lines and debris from hurricane damage. "These materials are typically buried in landfill. Why shouldn't we make energy materials from that?" said Ingram. "Corn may not be the optimal crop and there's certainly room for exploration." ... "Pretty soon it will be a viable energy source," she said of biomass ethanol. "But it's a new industry and it takes time to become established." But, Ingram said, the best way to help battle U.S. energy addiction is conservation. "We can make the biggest immediate difference in our consumption by conservation," he said. "We won't solve it by conservation alone, but we can do a better job using the materials we use today."
The final energy frontier: The end of the oil and gas era may be in sight, but the current energy boom in the West means that a rough and wild ride is still ahead Tapping into energy’s fringe: As companies drill for ‘unconventional’ natural gas, environmental impacts mount
The agreement with the North Slope's major oil and natural gas operators - BP, ConocoPhillips and ExxonMobil was announced Tuesday by Murkowski, who brokered the deal. When the pipeline is completed, no earlier than 2012, it could transport 4.5 billion cubic feet per day from the North Slope primarily to Chicago for distribution throughout the United States.
In fact, a recent publication suggests prices may well fall beyond 2007. Energy prices, as with other commodities, revolve around supply and demand. Right now we are in the worst possible place, with supply only just meeting demand amid fears that a bout of bad weather in the next few weeks could lead to an energy deficit of up to 15%. |
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