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EVPP 111 Lecture - Energy - Fossil Fuels - Oil - Student - Fall 2010

EVPP 111 Lecture - Energy - Fossil Fuels - Oil - Student - Fall 2010

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EVPP 111 Lecture Dr. Largen
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Fossi l Fuel s - Oi l Description Formation Reserves Extraction Uses Use patterns Use issues
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Fossi l Fuel s - Oi l Description liquid mixture hydrocarbons impurities
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Fossi l Fuel s - Oi l Description Formation Reserves Extraction Uses Use patterns Use issues
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Fossi l Fuel s- Oi l Formation Oil From aquatic organisms
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Fossi l Fuel s- Oi l Formation source rock sedimentary rock containing original organic material transforms kerogen oil natural gas migrates upward into coarse-grained reservoir rock until blocked by non-porous trap ( or cap rock)
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Fossi l Fuel s - Oi l Description Formation Reserves Extraction Uses Use patterns Use issues
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Fossi l Fuel s - Oi l Oil reserves How do we determine how long they’ll last? Reserves-to-production ratio (R/P ratio) Amount of total remaining reserves/annual rate of production 1.2 trillion barrels/30 billion barrels per year = ~40 years Prediction “oil crisis” will occur when oil production rate begins to decline Occurs when reserves are ~ ½ depleted ~1.1 trillion barrels of oil have been used, ~1.2 trillion remain
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Fossi l Fuel s - Oi l Oil reserves How do we determine how long they’ll last? Hubbert’s peak (“peak oil”) US M. King Hubbert , 1956, predicted US oil production peak in 1970 Was accurate World-wide Hubbert, 1974, predicted global oil production peak in 1995 Not accurate Some say peaked in 2005
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Fossi l Fuel s - Oi l Oil reserves Predicting “peak oil” Challenges variability in oil production from year to year estimating amount of oil remaining USGS recently estimated ~2 trillion barrels instead of ~1 trillion US GOA in 2007 found 21 studies with estimates of peak oil ranging from now through 2040
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Fossi l Fuel s- Oi l Oil reserves Who has the oil?
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