Oil in the 21st Century: Issues, Challenges and OpportunitiesRobert Mabro Oxford University Press, 2006 - 351 pages Oil is hitting the headlines once again. The big increases in oil prices over the past two years are upsetting consumers and puzzling producers. The reasons are difficult to understand, since few people are familiar with the complex workings of the price regime for oil in international trade. It is said that sluggish investment is a major cause, but what are the reasons for inadequate investment in oil producing and refining plants during the last 20 years? Does oil have a future? We are told that oil production will soon peak because the rate of production is higher than replacement rates. Climate change problems are casting a shadow over the future of fossil fuels. There may, however, be a solution to the nefarious CO2 emissions in, for instance, technologies that sequestrate carbon. Oil's stronghold is the transport sector: cars, trucks, railway engines, planes, ships. The demand for oil would suffer a fatal blow if technical innovations in car engines make it possible to use an alternative fuel to petrol or diesel. New energy sources - wind, solar, tide, waves, geo-thermal - are both renewable and environment-friendly. Do they represent a threat to the future of oil? An international team of experts addresses these highly topical questions in this comprehensive volume. |
Contents
Chapter | 1 |
Chapter | 17 |
The Outlook for Oil to 2020 | 19 |
9 | 26 |
Figures | 28 |
The Origins and Evolution of the Current | 41 |
Figure | 55 |
Table | 70 |
A Prospective Depletion Curve for the Worlds | 161 |
Technologies to Extend Oil Production | 178 |
Some Aspects of the Climate Change Issue | 203 |
Carbon Sequestration | 241 |
Figures | 247 |
The Future Technical Development of Automotive | 282 |
Road Transport Contribution to Global Pollutant | 291 |
Evolution of European Emission Standards | 296 |
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additional Ahlbrandt average barrels biomass Brent crude Brent market carbon dioxide carbon sequestration challenges climate change CO₂ combustion commodity consumers conventional costs crude oil dated Brent decades developing countries diesel differential downstream drilling economic efficiency electricity emissions engine environmental estimates factors fields Figure fossil fuels fuel cell fuel consumption futures contract futures market futures prices global greenhouse gas Hubbert hydrogen impact important improve increase injection International Energy Agency investment investors Klett Kyoto Protocol levels liquid Mabro marker price mb/d natural gas non-OPEC NYMEX ocean oil and gas oil demand oil futures oil market oil pricing regime oil production OPEC OPEC's option percent plants potential problem recovery reduce refineries refining reserve growth reservoir Saudi Arabia scenario seismic sources spot market spot prices storage TBOE temperature tion trading U.S. Geological Survey upstream vehicles volume World Energy world oil