Oil shortage: the report that scares

[freddau]

According to a US study, production could be lower than supply in five years. Proposed solution: allow drilling even in protected areas and develop biofuels.


Consumption up, insufficient production, and prices exploding. According to the report titled "Tackling the harsh realities of energy" published last week, it is around 2030 that the oil shortage will really be felt. Written at the request of the US government, the report of the National Council of Petroleum, released last week, is very alarmist.


The first conclusion is that the oil industry will not be able to meet the growing demand for energy, which will increase from 50 to 60% in the next 25 years. It is this phenomenal demand, driven by the exponential growth of Asian countries, that will drive up oil prices.


The authors of this report are members of the oil industry itself, such as Lee R. Raymond (former CEO of Exxon) or David J. O'Reilly (CEO of Chevron). They estimate that if current oil demand is 84 million barrels a day, it could rise to 120 million in 2030. The problem is that producing countries, such as Russia, Iran, Iraq, Venezuela or Nigeria will be unable to meet such a high demand. They may even reduce their production. Thus, one of the scenarios envisaged is that in 5 years, demand will already be greater than supply.


Betting on biofuels


The report's authors urge governments to develop research and production of alternative fuels, such as ethanol, biodiesel, or synthetic fuel made from coal. They also advocate increasing oil sands and seabed exploration.


"All sources of energy that can be exploited profitably will have to be", in order to meet the growing demand. This includes the exploitation of oil in "protected areas" such as national parks.

http://www.lefigaro.fr/matieres/2007072 ... _peur.html

[freddau]

I know I know.
It's the Figaro, we do it with.

[Christophe]

Exploit the protected areas, the fault to Asia, profitability ... etc etc

Full of arguments that I do not like ... but as you say it's the Figaro must they adapt to the ideology of their readers ...

Will the author explain how he calculates his profitability ...

[Rulian]

Well, it's been years since ASPO broke the heart to make that understood to the world. They did not make a big scoop with their study, these ricains.

If even the Figaro speaks about it ... hehehe!

[Christophe]

I do not think this is exactly the same goal as ASPO ...

That is there (purely oil?) Tries to justify the exploitation of protected oil resources and petro-biofuels ...

Finally I see the thing as well ...