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A Peak Oil Update and a Quantitative Assessment of Future Net Oil Exports by the Top Five Net Oil Exporters Jeffrey J. Brown & Samuel Foucher, Ph.D.

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Presentation on theme: "A Peak Oil Update and a Quantitative Assessment of Future Net Oil Exports by the Top Five Net Oil Exporters Jeffrey J. Brown & Samuel Foucher, Ph.D."— Presentation transcript:

1 A Peak Oil Update and a Quantitative Assessment of Future Net Oil Exports by the Top Five Net Oil Exporters Jeffrey J. Brown & Samuel Foucher, Ph.D.

2 Capital & Energy Required to Produce Liquid Transportation Fuels from Fossil Fuels Capital & Energy Requirements Increase Carbon Content & Contaminants Increasing Natural Gas BitumenCoal Jeffrey J. Brown, Geologist email: westexas@aol.com Natural Gas Liquids CondensateLight Sweet Crude Heavy Sour Crude

3 Lower 48 Production 1960-1980 Source: EIA, crude oil + condensate only

4 Lower 48 HL Plot Source: EIA, crude oil + condensate only

5 Total Lower 48 Production (1990 to current)

6 Lower 48 and World Production Source: EIA, crude oil + condensate only

7 Jeffrey J. Brown, Geologist email: westexas@aol.com Source Material: GRAPHOILOGY by KHEBAB

8 Jeffrey J. Brown, Geologist email: westexas@aol.com Source Material: GRAPHOILOGY by KHEBAB

9 Texas and Saudi Production Source: EIA, crude oil + condensate only, Railroad Commission of Texas

10 Texas and Saudi Production

11 Texas and North Sea Production Source: EIA, crude oil + condensate only

12 Export Land Model

13 ELM, UK and Indonesia, Year over Year Changes in Net Exports

14 Conventional Wisdom - the Economist Quote About Saudi Arabia « Saudi Aramco's proved reserves alone could keep the world supplied for several decades. But it is only exploiting ten of its 80 or so fields, so will be able to pump at the present rate for about 70 years even if it never discovers another drop of oil ». Economist Magazine, August 10, 2006

15 Saudi Arabia: Constant Production at 11 mbpd, Versus Consumption Increasing at +5.7%/year

16 Saudi Arabia, Production, Consumption Supply Forecast Confidence Interval Consumption Confidence Interval 4.4% ± 2%/year URR=224 ± 24 Gb ActualForecast 2015 -2.7 ± 2%/year

17 Saudi Arabia, Net Exports Exports Forecast Confidence Interval ActualForecast 2015 -4.73 ± 4%/year

18 Russia, Production, Consumption Supply Forecast Confidence Interval Consumption Confidence Interval URR=204 ± 7 Gb 0.3% ± 0.8%/year ActualForecast 2015 -5.1 ± 2%/year

19 Russia, Exports Exports Forecast Confidence Interval ActualForecast 2015 -8.2 ± 4%/year

20 Norway, Production, Consumption Supply Forecast Confidence Interval Consumption Confidence Interval URR=29 ± 1 Gb 0.7% ± 2.7%/year ActualForecast 2015 -11.0 ± 2%/year

21 Norway, Exports Exports Forecast Confidence Interval ActualForecast 2015 -12.1 ± 2.5%/year

22 Iran, Production, Consumption Supply Forecast Confidence Interval Consumption Confidence Interval URR=124 ± 12 Gb 2.9% ± 1.8%/year ActualForecast 2015 -1.5 ± 2%/year

23 Iran, Exports Exports Forecast Confidence Interval ActualForecast 2015 -4.9 ± 7%/year

24 UAE, Production, Consumption Supply Forecast Confidence Interval Consumption Confidence Interval URR=49 ± 9 Gb 5.0% ± 5.0%/year ActualForecast 2015 -2.9 ± 4%/year

25 UAE, Exports Exports Forecast Confidence Interval ActualForecast 2015 -4.0 ± 7%/year

26 Top Five, Production, Consumption Supply Forecast Confidence Interval Consumption Confidence Interval URR=680 ± 55 Gb 1.8% ± 0.9%/year ActualForecast 2015 -3.8 ± 2%/year

27 Top Five, Exports ActualForecast 2015 -6.2 ± 4%/year

28 Top Five Net Exports, With US Total Imports

29 Electrified Transportation in San Angelo, Texas, Circa 1908


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