On 20 August Wood Mackenzie (WoodMac) released a report on China and the USA’s future imports of oil. WoodMac regards itself as one of the world’s leading companies producing energy analyses. The title of the report is “Heading in Opposite Directions: China and US Reliance on Oil”, but I chose to use the report’s subtitle…
“Many small creeks make a large stream” is a Swedish saying that describes well the production of shale oil and shale gas. Equivalent English sayings are, “Many a little makes a mickle,” (that originated in Scotland, and then President George Washington used in a text of 1793) and “Many drops make a river.” If one…
Björn Lindahl has published an article on activities and investment on the world’s seas. (20120108 in Swedish in the edition of Svenska Dagbladet Industry [the business section of one of Sweden’s major broadsheet newspapers].) He states that 59,000 freight ships ply the world’s oceans and that the world’s shipping turns over $183 billion per year.…
Publication date: 1992-07-01 First published in: Journal of Petroleum Science and Engineering Authors: B.J. Ayeni, R. Pilat Abstract: The oil industry has used decline curve analysis with limited success in estimating crude oil reserves and in predicting future behavior of oil and gas wells. This paper, therefore, explores the possibility of using the Autoregressive Integrated…
Publication date: 2010-02-01 First published in: Energy & Fuels Authors: I.S. Nashawi et al Abstract: The year 2008 has witnessed unprecedented fluctuations in the oil prices. During the first three-quarters, the oil price abruptly increased to $140/bbl, a level that has never been reached before; then because of the global economic crisis, the price dramatically…
Publication date: 2009-09-01 First published in: Energies Authors: U. Bardi & A. Lavacchi Abstract: The well known “Hubbert curve” assumes that the production curve of crude oil in a free market economy is “bell shaped” and symmetric. The model was first applied in the 1950s as a way of forecasting the production of crude oil…
Publication date: 2008-02-13 First Published in: Ecological Economics Authors: R. Kaufmann & L. Shiers Abstract: We examine the effect of uncertainty concerning remaining supplies of conventional crude oil and its production path on the date alternative fuels will be needed, the quantity of alternative fuels needed, and how this uncertainty affects firms’ willingness to provide…
