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Oil Kaleidoscope (17)

oil crisis and its implications

Reduction world oil production makes it unlikely the development of alternative energy for several reasons, two of the most compelling of which
- no growth in oil production, global economic growth is impossible without growth in the global economy can not be investment in alternative energy.
- for the development of alternative energy required a huge investment of energy of oil. In a situation when production world oil reduces oil will be used for everyday needs - food, heat, transportation, and not for projects whose implementation may take decades if not centuries.

world energy consumption per capita

figures are given in equivalent barrels of oil.
red - the amount Brown - Oil, Black - Charcoal, Grey - gas, light green - biomass, Blue - Hydro, Yellow - nuclear energy, dark green - alternative energy.

Schedule a useful but misleading.

1. shown only the production of energy. But does not show how much energy is spent on say oil production. In 60s by investing one unit of energy in oil received 100. In 2000 only 20. Thus, per capita can be extracted six barrels, but five can be spent extraction, leaving the consumer only one ...
2. not shows the relationship between different forms of energy. Namely, for coal needed oil. For construction hydro and nuclear power plants need millions of tons of concrete and hence oil (it is needed for cement production). Loss of one source of energy (or deficit) can cause loss of other energy sources.

220 dollars per barrel

Analysts Nomura claim , that oil prices soar up to $ 220 if Libya and neighboring Algeria, which could spread turmoil will stop its prey.

Bribery population

Saudi Arabia's King ordered give people about $ 40 billion (in 2000 dollars per person), to prevent unrest in the kingdom.

Anxiety in World

Many governments alarmed possible shortage of food and resources in the world and create reserves. The Arab countries are stocking drugs, grain and water.

Spare OPEC capacity

unrest in Libya was given the opportunity to test approval OPEC on available in these countries, spare capacity for oil production. Production in Libya may fall on a half million barrels a day. OPEC countries have spare capacity over 6 million barrels a day or so at least they claim. If the price of oil rises, the statements of the OPEC countries are likely a bluff.

Saudi oil can replace the Libyan

Saudi oil can not replace the Libyan oil for two reasons. First - Libyan better quality, and Saudi can not recycle all the refineries.
Second - Libyan much closer to Europe and the Saudis need a lot more time and therefore oil to satisfy Europe's need for oil.

Rebellion in the Arab world - a forerunner of the climatic apocalypse

representative British Foreign Office said , that the uprising in the Arab countries, only a harbinger of future wars caused by climate change. The drought has caused crop failures in Russia and the ban on wheat exports. Bread - the basis of the diet in the Arab countries and subsidized by the state, so that anyone in a position to buy it. Shortage of grain due to the ban on exports in Russia led to food shortages and unrest.