Sources of Oil and Gas: 2000—2030
9000
Entitlement Production (mboe/day)
7000 All Other
6000
8000
Russia/Caspian
5000
4000 Deepwater
3000
2000 LNG
1000 Unconventional Heavy Oil
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6
8
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4
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2
2
6
0
2
8
0
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1
1
1
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2
0
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2
2
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6
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2
Five new sources of oil and gas are expected to be developed by 2030, according to
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Source: PFC Energy Upstream Competition Service
Hydrocarbon Publishing’s Mark Peters. The chart above shows new source entitlement
production (barrels equivalent) for: XOM, BP, Shell, Chevron, ConocoPhillips, Total, Eni.
specifies that the U.S. can’t buy
fuels that would increase greenhouse gas emissions and oil sands
do that, Peters pointed out.
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Still, the focus has become stronger
on alternatives to traditional fuel sources
such as:
Biofuels. While biofuels very
recently have taken a bad rap
because of scarcity of food crops,
Peters said, the political power
behind such fuels in the U.S. is
high. While increased amounts of
ethanol are now coming from
Brazil, where sugar is used, “that
doesn’t help the farmers in the
Midwest.”
Solar. The popularity of solar
sources has increased, but the
expense for a solar panel is still
around $25,000, “and most people won’t make that leap,” Peters
said.
Hydrogen. Wide acceptance of
hydrogen is still a long way off,
again because of the expense and
the fact a truly efficient hydrogen
cell has not yet been developed.
Arctic National Wildlife Range. At
some point, there will need to be
development in ANWR, but conservation is still a priority so that
development is a long way off,
Peters said.
Oil sands. While the Canadian oil
sands are a promising source of
supply, Congress’ 2007 energy law
Climate change also has been thrown
into the mix so in the U.S., politicians
are not looking at resources within the
nation’s borders. “We are the only country in the world not actively pursuing all
our energy sources, [but] we continue to
lecture others that they are not producing enough cheap fuel,” Peters
exclaimed.
The world also needs a replacement
for the Kyoto treaty because while the
countries that signed it made great
promises, no one is making them
accountable for those promises. And
countries such as India and China, which
continue to say they will not participate
in greenhouse gas emissions programs,
are some of the biggest emitters: China’s
emissions were up 11% and India’s 8%
in the last two years.
All of these developments will play a
role going forward, resulting in different
refining processes, different configurations within refineries, and more crackers and environmental protections. But
the future of the hydrocarbon processing
industry remains strong, Peters said.
