Saudi Arabia will spend more than $100 billion to establish 16 nuclear energy plants in different parts of the country within the next few years.

PetroChina has discovered shale gas in China’s Sichuan province, confirming that the energy-hungry country is sitting on vast reserves of this unconventional fuel source. There are 1,275 trillion cubic feet of extractable shale gas reserves in the country which could meet China’s needs for 300 years based on current consumption.

The number of automobiles in China has shot past the 100 million mark. This number is expected to double within the next decade given that some 50 million cars were registered in the country from 2006 to 2010 alone.

The cost of drilling crude oil wells in deep water is increasing in all parts of the world because demand for technical services is higher than the capacity of the industry.

Opec’s secretary general, Abdalla Salem El-Badri, forecast that the world’s energy demand will increase by more than 50% from 2010 to 2035.

Two thirds of all cars in Brazil are fueled with ethanol and Brazilian oil producer, Petrobras, says it expects all Brazilian cars to be running on this fuel soon.

The Institute for Energy Research estimates that the combined oil and gas resources from the US, Canada and Mexico total  nearly 1.7 trillion barrels of recoverable oil. Much of these energy resources are buried in shale gas in Canada and the US.

Australia will need $240 billion of investment in its gas and electricity industries over the next two decades to ensure a reliable supply, a draft federal government white paper says.

 

with h/t Tom Whipple

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