ENERGY: SUPPLY AND DEMAND Dr. Ron Lembke
International Energy Outlook, 2011, US Energy Information Admistration, eia.gov
EIA Demand Scenarios
Hubbert’s Peak M. King Hubbert, “Nuclear Energy and the Fossil Fuels” (Drilling and Production Practices, American Petroleum Institute, Washington, DC, 1956),
Causality or Correlation?
Different Scenarios m?id=38&t=6
The Price of energy
Gas Prices Data:
Price of Liquids
EIA Predicted Price of Crude Oil, 2011 Death Valley, April 2012
NV Electricity Prices Elect. Price Data: EIA, 20y Rsq=0.91, 10y Rsq=0.94
Where does our oil come from?
US Oil Imports, US EIA
Proven Oil Reserves, CIA Factbook, 2014
Carbon Capture & Sequestration Porous rock formations Small scale tests Expensive – lose 30% of electricity gained So make more electricity – It’s CARBON FREE! There are other pollutants What if it gets out? Natural gas stays safely underground
Solar Resources
Geothermal Resources
Wind Resources
Renewables’ Share growing
Summary Demand for energy is going to increase significantly Growing populations Rising standards of living Supply of energy not increasing as fast Global oil supplies are finite Peak oil is likely coming in next 40 years Alternative energy sources