... the US was, not surprisingly to anybody that knows even a tiny amount of economics, or just has ordinary common sense, immense. The US was criticized for decades, before 2008, for being only 5% of the world population, but consuming 25% of the world's energy (not just oil, gas, coal and other too). Even back then, that criticism was not totally fair, since the US economy was very energy efficient in the sense of unit of GDP produced per unit of energy spent, compared to many other nations. As anyone can see in the ...
... construction of the railway line appears unlikely.
Syria as Oil and Gas Thoroughfare
As of January 1, 2013, Syria’s share in the
global oil and gas reserve
market was estimated at 2.5 billion barrels, just 0.2 percent of global resources (Crude Oil Proved Reserves. 2012. International Energy Statistics. EIA). Before the beginning of the military conflict, Syrian oil production amounted to 0.4 percent of the global total. In 2012, this figure fell to 0.25 percent (calculated by the author on the basis of BP Statistical Review of World ...
... that we must not see this shale sale as the US Holy Grail, as at the end the American consumers may just spend more on Chinese goods. That said it will at least act as a cap on the US huge trade deficit with China.
Trouble Brewing – Do Not Boil
The energy renaissance of USA from one perspective will benefit its inhabitants and wider North American security, but such gains could also become inadvertently and indirectly undermined if the knock-on effects are too severe. For instance, the Middle East ...
... situation as technically the world is facing an impeding disaster, yet as the Arctic melts 22% of the worlds undiscovered gas and oil reserves can be found offshore strategically located within its reach. So, it is hard not to wonder, if for Russia it is the ... ... Far East a little and is yet to find the critical gas hydrates. Secondly, as waters warm it may open up some industries like energy and shipping, but affect others like fishing. In warmer waters the fish will swim out more from the shores and out of the ...
... What is more reasonable today - to focus on environmental challenges and to work on environmental projects or to invest into energy projects in the Arctic? A.Z.: Everything here is important because everything is very much interlinked. The Arctic ecosystems ... ... that it would be more opportunities for increased economic activity, which basically entails eventual work on the shelf for oil and gas primarily. Yet, this is not the issue of today. If it comes, it will come much later, beyond 2030 because it’s ...
... words would ring in the ears of China’s elite. As why would China eternally follow the 'rules', which are made by and for the hegemon, particularly if China becomes the world’s biggest economy?
As Yergin (2011) stresses oil has been a primary energy concern for China ever since Mao, as it was perceived as a main component of a modern economy, in turn, fuelling military and political muscle. Yet, in the 20th century China has experienced repeated cuts like: during the Sino-USSR split, USA’s ...
... legislation holds in the US, like the Dodd-Frank Act. If we look at the statistics for manipulators, its frankly shocking. Cambridge Energy Research Associates (CERA) highlight that from 2008 there were no changes within expenses of exploration or production ... ... associated to produce a barrel of BRENT account for $53 per barrel or just 45% of the average market price at the time when oil was traded at around $90; this means that the rest is primarily speculation. In the modern era of oil trade, financialisation ...
... others sources like biofuels. However, towards the end of 2010s alternative fuels will collectively amount to a notable 10% of the overall market.
Reason 1: Motorization
The largest spur in oil demand will come from the transportation sector, where oil is the main energy source at over 90% of overall consumption. The biggest growth in transportation is unsurprisingly occurring in the developing part of the globe where figures will roughly triple from the current level. China will lead the way with the number of ...
... energy, its only natural room to manoeuvre seems northwards. Even if the world does not tremble, Russia fears that at the least Eurasia will shake. As promised, this is the second post in this special series and once again I am joined by the Head of Oil and Gas at the Energy Research Institute of the Russian Academy of Sciences, Dr. Tatiana Mitrova. We discuss: sinicisation, geopolitical mistrust, energy deals, the Central Asian Ace & more! Please, feel free to comment & enjoy!
Personal Note:
This is the second ...
... applied. In this post issues like energy weaponry (enormous logical fallacy in my opinion), market reforms, looming contract litigation, energy security, shale revolution and domestic challenges will be discussed. In this post I am joined by the Head of Oil and Gas at the Energy Research Institute of the Russian Academy of Sciences, Dr. Tatiana Mitrova. This is the first of two posts from this special series, so keep tuned, please feel free to comment and enjoy!
Personal Note:
My regular readers may have noticed ...
