26 Mar '12, 10am

Global oil risks in the early 21st Century

Global oil risks in the early 21st Century

This is a guest post by Dean Fantazzini, Faculty of Economics, Higher School of Economics, Moscow, Russia, Mikael Höök, Uppsala University, Global Energy Systems, Department of Physics and Astronomy, Uppsala, Sweden, and André Angelantoni, Post-Peak Living, San Francisco, CA. This paper has been previously published in Energy Policy, Volume 39, Issue 12, December 2011, Pages 7865-7873. Abstract: The Deepwater Horizon incident demonstrated that most of the oil left is deep offshore or in other difficult to reach locations. Moreover, obtaining the oil remaining in currently producing reservoirs requires additional equipment and technology that comes at a higher price in both capital and energy. In this regard, the physical limitations on producing ever-increasing quantities of oil are highlighted as well as the possibility of the peak of production occurring this decade. The...

Full article: http://www.theoildrum.com/node/9015

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