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Peak oil - Nov 17
by Staff
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Energy Institute Addressing the peak oil debate has never been more essential. As the economic downturn bites, what affect will this have on production and the uptake of unconventionals. Have we reached the end of cheap oil and if so what effect will this have? This popular one-day conference will shed light on the topic through expert presentations and debate giving delegates the information needed to effectively plan their future operations. Confirmed Speakers Chair Fifty years of Oil Depletion Update on Global Oil Supply/Depletion UK policy review Impact of shale gas and other unconventionals Brief comment on current IEA and EIA positions Assesing the risk from a banking perspective Financial and Economic Impact of Peak Oil Energy Return on Energy Invested (EROEI) The Lost Barrels Update on International Energy standards The Energy Institute (EI) is the professional body for the energy industry, delivering good practice and professionalism across the depth and breadth of the sector. In a competitive world the modern professional body is a vital partner for any individual or organisation, whether as an individual, you want control of your career and the ability to influence your future, or as an organisation you want to take a leading role in the energy community and the advancement of industry knowledge. A Royal Chartered membership organisation, the EI supports around 15,000 individuals and 250 companies across 100 countries, serving society with independence, professionalism and a wealth of expertise in energy matters. The EI is licensed by the Engineering Council (UK) to offer Chartered, Incorporated and Engineering Technician status to engineers, the Science Council to award Chartered Scientist status, and also licensed by the Society for the Environment to award Chartered Environmentalist status. The purpose of the EI is to develop and disseminate knowledge, skills and good practice towards a safer, more secure and sustainable energy system. In fulfilling this purpose the EI addresses the depth and breadth of energy and the energy system, from upstream and downstream hydrocarbons and other primary fuels and renewables, to power generation, transmission and distribution to sustainable development, demand side management and energy efficiency.
U.S. oil production in areas including West Texas' Permian Basin, South Texas' Eagle Ford shale, and North Dakota's Bakken shale will record a rise of a little over 2 million barrels per day from 2010 to 2016, according to data compiled by Bentek Energy, a Colorado firm that tracks energy infrastructure and production projects. Canadian crude production is expected to grow by 971,000 barrels per day during the same period, with much of the oil headed for the U.S. Combined, the U.S. and Canadian oil output will top 11.5 million barrels per day, which is even more than their combined peak in 1972. Goldman Sachs has estimated the U.S. could move from being the No. 3 oil producer behind Saudi Arabia and Russia to the No. 1 spot by 2017. It's a reversal of the steady downward production trend that started after 1971, when U.S. oil production peaked around 9.5 million barrels per day. "Someone might want to comment on this partial vanquishing of the 1970 Hubbert U.S. production peak - by the year 2016. Of course, Bentek bets heavily on Canadian tar sands, and the term "North American" is broader "Is this oil industry hype or reality?"
It then considers Australia's awareness, planning and policy responses and argues that this represents a critical risk management failure. It concludes by looking briefly at what this may mean for rural Australia and options for response that could build an economically and ecologically sustainable future for rural society. Donald Hugh Coventry |
The Conversation
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