Lecture_16 - LECTURE 16 - DEMAND AND SUPPLY FOR FOSSIL...

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LECTURE 16 - DEMAND AND SUPPLY FOR FOSSIL FUELS 1.0 U.S. AND WORLD ENERGY PRODUCTION NATURAL GAS PETROLEUM COAL HYDROPOWER NUCLEAR POWER 2.0 EXTENSION OF OIL AND GAS RESOURCES OIL U.S. OIL PAST PRODUCTION OF ABOUT 55 BILLION BARRELS PROVEN RESERVES ABOUT 25-30 BILLION BARRELS LOW PROBABILITY FOR NEW MAJOR DISCOVERIES ALASKA DISCOVERY - 10 BILLION BARRELS (REPRESENTS 2 YEARS SUPPLY FOR U.S.) EAST COAST OF U.S. - NOTHING SIGNIFICANT
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GULF COAST – PARTLY RESTRICTED PROVEN RESERVES CONTINUE TO DECLINE ANTICIPATED?? RESERVES ABOUT 85 BILLION BARRELS CURRENTLY CONSUMES 25% OF WORLD'S PRODUCTION CURRENTLY IMPORTS OVER 40% OF OIL CONSUMED WORLD OIL PAST PRODUCTION 650 BILLION BARRELS (U.S. 8%) RESERVES ABOUT 950 BILLION BARRELS (U.S. 3%) ANTICIPATED RESERVES ABOUT 1450 B. BARRELS (U.S. 6%) RESERVES WILL LAST FOR APPROX. 20-30 YEARS MOST RESERVES IN POLITICALLY SENSITIVE AREAS MAJOR NEW FIELDS OFFSHORE IN DEEP WATER DISTRIBUTION PROBLEMS ENHANCED OIL RECOVERY PRIMARY RECOVERY (APPROX 30%)
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This note was uploaded on 07/25/2008 for the course ISP 203A taught by Professor Larson during the Fall '08 term at Michigan State University.

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Lecture_16 - LECTURE 16 - DEMAND AND SUPPLY FOR FOSSIL...

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