the end of oil as primary source of energy
DESCRIPTION
Growing consumption of oil raise questions of availability and sustainibility.TRANSCRIPT
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PROBLEMATIC
The current world oil consumption is 87,915 kBbl/day. The world total proven oil reserves is 1,478,974 million barrels.
The current daily production rate is 83,241 kBbl/day (That means we consume more than we produce oops!).
For the last 5 years (2005 to 2010), the world consumption has increased by 25%.
Someone will ask me what about the reserves? of course, the past 5 years, the reserves have increased by 29% but only 30% is recoverable by current methods and 55% by heavy
high tech engineering methods.
When is the end of oil as the primary source of energy
By Eric ADANGBA, Hult Energy Club
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INTRODUCTION
Energy and persistence conquer all things. Benjamin Franklin (January 17, 1706 [O.S. January 6, 1705[1]] – April 17, 1790) was one of the Founding Fathers of the United States.
By Eric ADANGBA, Hult Energy Club
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OPERATION OVERVIEW
By Eric ADANGBA, Hult Energy Club
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OPERATION OVERVIEW TODAY
By Eric ADANGBA, Hult Energy Club
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TOP 10 PRODUCER IN THE WORLD
• Russia 10450 • Saudi Arabia 9761 • USA 7805 • Iran 4259 • China 4103 • Canada 3367 • Mexico 2953 • United 2848 • Venezuela 2438 • Nigeria 2436
2010
(KBbl/Day)
By Eric ADANGBA, Hult Energy Club
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WORLD’S PRODUCTION
0
10000
20000
30000
40000
50000
60000
70000
80000
90000
1995 2000 2005 2008 2009 2010
Tho
usa
nd
of
bar
ril/
Day
Year
World's Production of Oil 2010 =82000 K Barrel/Day
By Eric ADANGBA, Hult Energy Club
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TOP 10 RESERVE IN THE WORLD
• Saudi 262602 • Venezuela 211170 • Canada 175214 • Iran 137010 • Iraq 115000 • Kuwait 104000 • USA 97800 • Russia 60000 • Libya 46420 • Nigeria 37200
(Mbl) Top 10 Producer (Kbl/Day)
WATCH WHAT HAPPENNING TO THE OUTSIDERS
By Eric ADANGBA, Hult Energy Club
• Russia 10450 • Saudi Arabia 9761 • USA 7805 • Iran 4259 • China 4103 • Canada 3367 • Mexico 2953 • United 2848 • Venezuela 2438 • Nigeria 2436
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By Eric ADANGBA, Hult Energy Club
84%
16%
World's Oil Reserve 2011
Top 10
Rest of the World
WORLD’S RESERVE
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TOP 10 OIL CONSUMPTION
• United 19 528 • China 9 377 • Japan 4 422 • India 3 338 • Russia 3 041 • Brazil 2 724 • Saudi Arabia 2 664 • Germany 2 483 • South Korea 2 249 • Canada 2 234
59%
41%
World's Oil Consumption 2010
Top 10
Rest of the World
WATCH THEIR FUTURE ACTION (BRIC)
By Eric ADANGBA, Hult Energy Club
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LEVEL OF DEPENDANCE
• Russia • Saudi Arabia • USA • Iran • China • Canada • Mexico • UAE • Venezuela • Nigeria
• Saudi • Venezuela • Canada • Iran • Iraq • Kuwait • USA • Russia • Libya • Nigeria
• United • China • Japan • India • Russia • Brazil • Saudi Arabia • Germany • South Korea • Canada
Top 10 Producer Top 10 Reserve Top 10 Consumer
IN TROUBLE: CHINA, JAPAN, INDIA, BRAZIL, SOUTH KOREA, GERMANY By Eric ADANGBA, Hult Energy Club
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HOW LONG CAN WE SURVIVE?
Dependence from OIL&GAS Years to survive • USA 62% 10
• CHINA 22% 14
• JAPAN 63% 7
• INDIA 31% 18
• BRAZIL 58% 16
• GERMANY 56% 9
• SOUTH KOREA59% NA
• WORLD 45
By Eric ADANGBA, Hult Energy Club
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OIL FUTURE
We produce only 2.2% of the Daily Reserve and consume 100% of our production
46
44 43
44 45 45
20
25
30
35
40
45
50
-350000
-300000
-250000
-200000
-150000
-100000
-50000
0
50000
100000
150000
1995 2000 2005 2008 2009 2010 2011
bar
ril/
Day
Year
Future World's Oil
New Discovery
Years to survive
The Discovery Rate is about 5% increase average YoY.
OIL FUTURE IS UNCERTAIN, NOT PREDICTABLE
Production
By Eric ADANGBA, Hult Energy Club
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WHEN OIL ENERGY WILL DIE?
Mideast/N.Africa oilfields 6 28 Arctic oilfields 32 100
Other conventional oilfields 6 39 Heavy oil/bitumen 32 68
CO2 enhanced oil recovery 30 80 Oil shales 52 113
Deep/ultra-deep-water oilfields 32 65 Gas to liquids 38 113
Enhanced oil recovery 32 82 Coal to liquids 60 113
Oil fie lds Estim ated Production Costs ($ 2008)
COST OF DOING OIL BUSINESS IS LESS THAN THE OIL PRICE
By Eric ADANGBA, Hult Energy Club
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COMPARISION WITH SUBSTITUTES
By Eric ADANGBA, Hult Energy Club
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WHAT IS THE NEXT SOURCE OF ENERGY
• HYDRO
• NUCLEAR
• COAL
• WIND
• GAS
• SOLAR
Need HULT MBA to crack it!
By Eric ADANGBA, Hult Energy Club