Political Economy of Demand

Natural gas proven reserves 2012 trillion cubic feet

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Unformatted text preview: Dakota’s oil production increased 71% between 2011 – 2012. Production is predicted to reach 900,000 – 1.2 mill bbl/day by 2015. • Flaring issue –if you can’t figure out how to pump without flaring, you’ll have to pump slower • Ex. Kazakhstan – got flaring to stop • Trying to set a precedent, and you want long term. • Primary energy regional consumption patter 2012. o US economy shifts more towards gas, Europe is focused on gas o Likely that coal gets worked out of system. What does this mean for coal industries around the world? In US – doing well. Coal is worst of fuels for pollution. Particulates, heavy metals, nastyyyy. Always tempting to back technologically if big price differential. • Natural Gas Proven Reserves 2012 Trillion Cubic Feet o US will become lead producer that still thinks of itself as consumer • What are the components of your gasoline price? What does this mean for the US as an exporter? o World price is world price for oil. Not true for natural gas. o We’re not disrupting price of gas, but using it domestically. Doing gas...
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This note was uploaded on 01/13/2014 for the course STIA 318 taught by Professor Theresasabonis-helf during the Fall '13 term at Georgetown.

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