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Coal?. Wind?. Solar?. Biodiesel?. Energy Resources & Policy ENV 385. Nuclear?. Have Oil, Will Consume. trillion barrels. 2. projected. ~125 yrs. 1. ~30 yrs. historic. 1900 1950 2000 2050.
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Coal? Wind? Solar? Biodiesel? Energy Resources & Policy ENV 385 Nuclear?
Have Oil, Will Consume trillion barrels 2 projected ~125 yrs 1 ~30 yrs historic 1900 1950 2000 2050
Key Factors Affecting Markets Iraq Russia Weather Value of U.S. Dollar Nigerian Civil Strife OPEC Decisions Venezuela
Key Factors Affecting Markets CBG = Clean Burning Gas OXY = Oxygenated RVP = Reid Vapor Pressure RFG = Reformulated Gasoline
Key Factors Affecting Markets Refining Capacity
Increased Demand & Competition 1,200,000,000 people! 1,000,000,000 people!
On the map below use arrows to show the global routes of flow (import/export) of crude oil
It’s a Small World After All: Major Flows of Crude Oil View of Earth from the Moon
<1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 *Note the absence of India (lump in with Rest of the World). India’s population is > one billion.
Greater than 55% of U.S. refining capacity is located along TX-AL coast
Outer Continental Shelf (OCS) Moratorium • Passed by Congress every year since its inception in 1981 • OCS covers 85% of U.S. coastal area • Estimated 19 billion bls recoverable oil and 86 trillion cu. ft. natural gas within OCS (Dept. of Interior), namely between shoreline and 50 miles from shore • House of Representatives voted 236-189 yesterday to lift the moratorium; Senate debate/vote will be next week
House Bill Provisions • Drilling allowed 50 to 100 miles from shore if neighboring states agree to the drilling; <50 miles not allowed, >100 miles no state approval • Royalties from drilling not shared with neighboring states • $18 billion tax breaks over next 10 years eliminated • Bill gives tax credits to solar and wind energy industries • Would require utilities to generate 15% of electricity from solar and wind or other renewables