ENERGY: SUPPLY AND DEMAND Dr. Ron Lembke. International Energy Outlook, 2011, US Energy Information Admistration, eia.gov.

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Presentation transcript:

ENERGY: SUPPLY AND DEMAND Dr. Ron Lembke

International Energy Outlook, 2011, US Energy Information Admistration, eia.gov

EIA Demand Scenarios

Hubbert’s Peak M. King Hubbert, “Nuclear Energy and the Fossil Fuels” (Drilling and Production Practices, American Petroleum Institute, Washington, DC, 1956),

Causality or Correlation?

Different Scenarios m?id=38&t=6

The Price of energy

Gas Prices Data:

Price of Liquids

EIA Predicted Price of Crude Oil, 2011 Death Valley, April 2012

NV Electricity Prices Elect. Price Data: EIA, 20y Rsq=0.91, 10y Rsq=0.94

Where does our oil come from?

US Oil Imports, US EIA

Proven Oil Reserves, CIA Factbook, 2014

Carbon Capture & Sequestration  Porous rock formations  Small scale tests  Expensive – lose 30% of electricity gained  So make more electricity – It’s CARBON FREE!  There are other pollutants  What if it gets out?  Natural gas stays safely underground

Solar Resources

Geothermal Resources

Wind Resources

Renewables’ Share growing

Summary  Demand for energy is going to increase significantly  Growing populations  Rising standards of living  Supply of energy not increasing as fast  Global oil supplies are finite  Peak oil is likely coming in next 40 years  Alternative energy sources