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The U.S. – Global Picture For Oil and Natural Gas. GEOL 4233 August, 2011. The Global Outlook (Oil). Non - OPEC. OPEC. Map of world regions showing OPEC member states. A Silver Lining ?. The ‘Developing’ World. The ‘Developing’ World. ‘Peak Oil’. Depletion is Universal.
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The U.S. – Global Picture For Oil and Natural Gas GEOL 4233 August, 2011
The Global Outlook (Oil)
Non - OPEC OPEC
The ‘Developing’ World The ‘Developing’ World
2.1 TBO Ultimate Recovery 1.8 TBO Ultimate Recovery World oil production through 2000 (heavy dots) showing projected production through 2050 (dashed lines) for two possible ultimate recoveries. From Deffeyes (2001).
The Global Outlook (Natural Gas)
L.N.G. Bontang LNG Facility (East Kalimantan, Indonesia)
Fossil-Fuels • Coal • Oil • Tar Sands • Oil Shales • Enhanced Recovery • Natural Gas • Gas Shales • Tight Gas (Sandstones) • CBM (Coalbed Methane) • LNG (Liquefied Natural Gas) • GTL (Gas To Liquids) • Hydrates • Technology • Horizontal / Deep Water Drilling • Improved Seismic Imaging • Enhanced Recovery Techniques
Non-Fossil Fuels • Wood, Etc • Nuclear • Hydroelectricity • Biofuels • Solar • Wind • Future Technologies
Conclusions • 1) Oil and gas will continue to dominate energy consumption. • U.S. energy dependence (interdependence) will increase. • Higher prices and volatility will remain the norm. • World oil productive capacity is at or near its peak (plateau). • Natural gas demand will rise, with shale-gas & LNG satisfying an increasing share.
Acknowledgements IHS Energy Group U.S. Department of Energy (E.I.A.) Oklahoma Corporation Commission Oklahoma Tax Commission International Oil Scouts Association Oil and Gas Journal