Valve Magazine - Fall 2010

EM Class A B* B* A

History
Projections

33%

200

A A

Quadrillion, Btu

150

100

Oil
Coal
Natural Gas
Renewables

27% 26%

Share of world total

9%

50

C C B A* B* B A ration

5%

Nuclear

0

1980

Source: EIA

1990

2003

2010

2020

2030

ype s)

Agency has projected a slight increase for the year (about 1% at the time of the workshop but IEA has since revised that slightly upwards to over 2%). Globally, demand will increase by 30% by 2025, but the industrialized world will show only modest growth while developing countries will make up the bulk.

One development that is “changing
the marketplace and the refining indus-
try,” is the growth of national oil compa-
nies (NOCs, which are companies con-
trolled by governments) and the tendency
toward resource nationalism (protection
of resources) in many of those countries,
Peters said. NOCs now control and pro-
vide limited access to 77% of the world’s
reserves, he pointed out, and some of
those countries (such as Russia,
Venezuela, Iran and China) are using
energy as a diplomatic tool. But even in
Mexico, that country’s state-owned oil
company Pemex is forbidden by the coun-
try’s constitution to form partnerships
with any companies that own oil
resources in Mexican territory, Peters
pointed out. Meanwhile, the Arabian
states have a goal of developing their own
gulf area into another Gulf of Mexico
with its accompanying refining power.