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The Economics of Oil

A Primer Including Geology, Energy, Economics, Politics
Sofort lieferbar | Lieferzeit:3-5 Tage I
S. W. Carmalt
SpringerBriefs in Energy
eBook Typ:
eBook Format:
1 - PDF Watermark

Introduction and current situation.- Financing oil projects.- Combining projects into programs.- Management or geology -- Peak oil theory.- Energy in the economy.- Oil's role in economy will change.- Importance of policy.- Looking ahead at oil and natural gas.- "Muddling through".
>Development scenarios and political pressure for growth as a means of solving economic woes both require more net energy, which is the amount of energy available after energy (and thus financial) inputs required for new sources to come on line are deducted. In today's economy, more energy usually means more oil. Although a barrel of oil from any source may look the same, "tight oil" and oil from tar sands require much higher prices to be profitable for the producer; these expensive sources have very different economic implications from the conventional oil supplies that underpinned economic growth for most of the 20th century. The role of oil in the global economy is not easily changed. Since currently installed infrastructure assumes oil, a change implies more than just substitution of an energy source. The speed with which such basic structural changes can be made is also constrained, and ultimately themselves dependent on fossil fuel inputs. It remains unclear how this scenario will evolve, and that uncertainty adds additional economic pressure to the investment decisions that must be made. "Drill baby drill" and new pipeline projects may be attractive politically, but projections of economic and associated oil production growth based on past performance are clearly untenable.