In its 2018 Annual Energy Outlook, the US Energy Information Administration predicts US crude oil production will rise from the current 10 million barrels per day to 12 million bpd and stay close to this level for the next 32 years. The projection assumes that oil finding and drilling technologies will continue to improve as they have in recent years. The projection has its critics. They observe that except for the Permian Basin, other US shale oil fields have already peaked or are unlikely to grow significantly. US offshore production currently is not receiving enough investment to grow significantly. Unlike the EIA, they believe the Permian Basin is reaching its growth limits and the current rate of increase is unlikely to last.

China eliminated or suspended 65 gigawatts (GW) of coal-fired power capacity in 2017, exceeding that nation’s target of 50 GW. China wants to eliminate or halt a total of 109 GW of coal-fired power capacity by the end of this decade while at the same time keeping its total installed coal-fired power capacity below 1,100 GW. Last year coal usage dropped by 1.6% to 60.4% of the country’s total electricity production. (note: 1 GW is the size of an average nuclear reactor)

Nigeria’s aging and ill-maintained refineries are unable to meet domestic fuel demand and have made the African country the only OPEC member to import gasoline. As a result, Nigeria is the world’s largest gasoline importer.  In February the country imported US$5.8 billion worth of gasoline in an attempt to alleviate the fuel shortages and end the long queues at the gas stations in Nigeria.

Israel wants to eliminate the use of coal, gasoline and diesel fuel by 2030. The Middle East country’ expects its manufacturing and transportation industries to be fueled entirely by natural gas, electricity and alternative fuels within the next 12 years.

The Japanese plan to build a liquefied natural gas (LNG) import terminal in the Australian state of New South Wales by 2020 to help alleviate an energy crunch in the country’s most populous state. The supply crunch has come amid soaring natural gas exports from Australia  that have shrunk local supplies, causing price spikes for consumers and business. In Australia last year, things got so bad that domestic natural gas was more expensive than exports to Japan.

The International Air Transport Association wants its members to transport a billion passengers on flights using biofuels by 2025.

Dr. Euan Mearns, writing on the Energy Matters blog, looked at global energy demand to the end of this century.  He examined the  expected increase in population and per capita energy consumption between 2015 and the end of this century, and concluded annual energy demand could top 29.5 billion tons of oil equivalent (TOE). That would be a 124% increase over current demand, raising questions over where the production capacity will come from.

In this post Dr. Mearns puts battery storage of energy in perspective.

The South American country of Chile is using blockchain technology to manage its national energy grid.





with h/t Tom Whipple

Tags: , , , , , , , , , , , , , , , , , , , ,

Leave a Reply