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Maximum Distance to Oil vs Average Price

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Presentation on theme: "Maximum Distance to Oil vs Average Price"— Presentation transcript:

1 Maximum Distance to Oil vs Average Price
Source: Huber and Mills, p. 3

2 Maximum Efficiency of Prime Movers

3 Energy Density of Primary Fuels

4 Power Density

5 Crude Oil Production Source: Smil, 2010:36.

6 Natural Gas Production

7 Annual Energy Consumption in England and Wales per capita by type

8 Annual Energy Consumption in England and Wales per capita by type

9 Energy Consumption in England and Wales (petajoules)

10 Energy Consumption in England and Wales (percent shares)

11 Real Prices of Coal and Charcoal in the Midlands

12 Stationary Power Sources in Great Britain
Crafts 2004, cited in Allen, page 173.

13 Energy Intensity and Energy Prices

14 World GDP and Energy Consumption in the 20th Century

15 US Energy Consumption, 1949-2009

16 Energy Consumption per-capita, US, 1949-2009

17 Energy Consumption per unit of Real GDP, 1949-2009

18 Energy Expenditures/GDP, 1970-2007

19 Productivity, Energy and Output in the United States

20 Energy Intensity in the 20th Century, major economies

21 Energy use and Income per person

22 Twentieth Century Gains in Energy Efficiency: Fossil Fuel Plants

23 Twentieth Century Gains in Energy Efficiency: Aircraft Engines

24 Twentieth Century Gains in Energy Efficiency: Iron Smelting

25 Twentieth Century Gains in Energy Efficiency: Ammonia Synthesis

26 Average Price of US Electricity

27 Crude Oil Prices

28 History of US Energy Consumption

29 History of US Energy Consumption

30 Primary Energy Use by Fuel

31 US Primary Energy Flow by Source and Sector

32 US Energy Consumption

33 Non-OPEC Production and the Oil Price

34 GDP, Oil Prices and Oil Capacity

35 OECD Inventories and the Futures Spread

36 OECD liquid fuels consumption and WTI crude oil price

37 Non-OECD liquid fuels consumption and GDP

38 World liquid fuels consumption, GDP, and WTI crude oil prices

39 Changes in OPEC production targets and WTI crude oil prices

40 OPEC spare production capacity and WTI crude oil prices

41 World Crude Oil Prices by Source

42 Crude oil prices and key geopolitical and economic events
1: US spare capacity exhausted 9: 9-11 attacks 2: Arab Oil Embargo 10: Low spare capacity 3: Iranian Revolution 11: Global financial collapse 4: Iran-Iraq War 12: OPEC cuts production targets 4.2 mmbpd 5: Saudis abandon swing producer role 6: Iraq invades Kuwait 7: Asian financial crisis 8: OPEC cuts production targets 1.7 mmbpd

43 Rising oil prices held down global oil consumption growth from , despite high economic growth

44 Average daily open interest in crude oil futures on U.S. exchanges

45 U.S. exchange-traded short positions by physical participants consistently exceed longs

46 Money managers tend to be net long

47 Simon-Ehrlich Commodities Wager

48 Simon-Ehrlich Wager for the Century

49 China’s Energy Production and Consumption

50 Coal in UK

51 GDP, Coal and Oil in UK

52 Uses of a Barrel of Petroleum

53 World Primary Energy Source

54

55 Log of the Real Oil Price (1970:1=100)

56

57

58 Nord Stream Pipeline Route

59 Major Pipeline Routes

60 Average Total Cost per ton of Pig Iron

61 TFP in Pig Iron Production

62 Proportion of Iron Smelted from Coke

63 Cost Components of Pig Iron Production in 1755 prices

64 Price of Labor Relative to Energy, early 1700’s

65 Wages relative to the Price of Capital

66 Real prices in London and cumulative output from the north east coalfields, 1700s-1860s

67 Laborer’s Wages Across the World

68 World Oil Reserves, years and totals

69 Natural Gas Reserves, years and totals

70 Exponential Reserve Index

71 EIA Forecast: World Marketed Energy to 2035


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