Navigation Links
Commentary in Nature: Can economy bear what oil prices have in store?
Date:1/26/2012

it's production that matters, not how much oil might be in the ground," Murray says. In the U.S., for example, production as a percentage of total reserves went from 9 percent to 6 percent in the last 30 years.

"We've already gotten the easy oil, the oil that can be produced cheaply," he says. "It used to be we'd drill a well and the oil would flow out, now we have to go through all these complicated and expensive procedures to produce the oil."

The same is true of alternative sources such as tar sands or "fracking" for shale gas, Murray says, where supplies may be exaggerated and production is expensive. Take the promise of shale gas and oil: A New York Times investigative piece last June reported that "the gas may not be as easy and cheap to extract from shale formations deep underground as the companies are saying, according to hundreds of industry e-mails and internal documents and an analysis of data from thousands of wells."

Production at shale gas wells can drop 60 to 90 percent in the first year of operation, according to a world expert on shale gas who was one of the sources for the commentary piece. Murray and King built their commentary using data and information from more than 15 international and U.S. government reports, peer-reviewed journal articles, reports from groups such as the National Research Council and Brookings Institution and association findings.

Stagnant oil supplies and volatile prices take a toll on the world economy. Of the 11 recessions in the U.S. since World War II, ten were preceded by a spike in oil prices, the commentary noted.

"Historically, there has been a tight link between oil production and global economic growth," the co-authors wrote. "If oil production can't grow, the implication is that the economy can't grow either."

Calculations from the International Monetary Fund, for example, say that to achieve a 4 percent growth in the global economy in the next five years, oil production must incre
'/>"/>

Contact: Sandra Hines
shines@uw.edu
206-543-2580
University of Washington
Source:Eurekalert

Page: 1 2 3

Related biology news :

1. SectorWatch.biz Issues Commentary for Investors of Homeland Defense Companies FOUR, MAGS, NSSC, PNTR, BCO, and CKP
2. Expert commentary on Earth Days 40th anniversary
3. BUSM faculty author commentary on the global challenges of emerging viral infections
4. Commentary and podcast on landmark gene therapy clinical trial for hemophilia B
5. Changing the course of nature: Are fisheries directing the evolution of fish populations?
6. Nanoscale coating protect products -- and the economy
7. Rise or fall of reef fish driven by both economy and ecology
8. Saving the economy and saving the planet
9. Synthetic catalyst mimics natures hydrogen economy
10. EPA awards competitive grants for students to design sustainable technologies that help environment and economy
11. Improved adhesive for products like transparent tape could benefit biofuels economy
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/22/2015)... YORK and POINT ROBERTS, Washington ... news source covering leading sectors including technology and tech stocks, ... Privacy marketplace featuring master pickpocket and security consultant Apollo ... is stolen and talks about the Wocket™ biometric smart wallet, ...
(Date:1/22/2015)... 22, 2015 Infinisource has launched its new NXG series ... The G2 sets a higher standard for collecting attendance and ... solution. With plug-and-play installation, touch screen interface and seamless connection ... robust time collection solution for the small to mid-size employer. ...
(Date:12/19/2014)... DUBLIN , Dec. 18, 2014 Research and Markets ... of the "iPhone 5S Fingerprint Sensor - Apple/AuthenTec ... their offering. http://photos.prnewswire.com/prnh/20130307/600769 ... 2012, Apple introduced the fingerprint reading feature with the ...
Breaking Biology News(10 mins):Apollo Robbins Talks about the Illusion of Personal Safety and How Easily Your Wallet is Stolen; If a Wocket Wallet is Stolen the Thief Can't do Anything With it! 2Apollo Robbins Talks about the Illusion of Personal Safety and How Easily Your Wallet is Stolen; If a Wocket Wallet is Stolen the Thief Can't do Anything With it! 3Infinisource's NXG series sets new time clock standard 2iPhone 5S Fingerprint Sensor - Apple/AuthenTec TMDR92 & Sapphire - Technology Report 2
... or fuel crop plants, could represent an abundant source ... International Journal of Automotive Technology and Management . ... and sal trees have almost as good a thermal ... carbon monoxide, waste hydrocarbons and NOx (nitrogen oxides). ...
... whole wheat bread a more appetizing aroma and taste may ... that appears in the bread, which nutritionists regard as more ... a new study in ACS, Journal of Agricultural and ... wheat bakery products more appealing to millions of people., Devin ...
... SANTA CRUZ, CA--The remarkable diversity of California,s plant life is ... 45 million years, according to a new study published in ... evolved in California, the rate at which plant lineages gave ... California than elsewhere, researchers found. Botanists have long recognized ...
Cached Biology News:Tree seeds offer potential for sustainable biofuels 2Low extinction rates made California a refuge for diverse plant species 2Low extinction rates made California a refuge for diverse plant species 3Low extinction rates made California a refuge for diverse plant species 4
(Date:1/23/2015)... Biofertilizers stimulate microbial activities in soil. These microorganisms ... the activities in the soil or in the rhizosphere. ... stress on reducing environmental pollution and on reducing the ... segments the bio fertilizers market with analysis and forecasting ...
(Date:1/23/2015)... 2015 Portal Solutions , a technology ... Microsoft Office 365 and SharePoint platforms , today announces ... for being one of the region’s fastest-growing mid-sized companies based ... , “To be recognized a second year in a ...
(Date:1/22/2015)... January 22, 2015 Shimadzu Scientific ... UV-1280 multipurpose UV-visible spectrophotometer. Offering wavelength scanning from ... is ideal for applications in a variety of ... , The user-friendly UV-1280 enables intuitive operation, while ...
(Date:1/22/2015)... (PRWEB) January 22, 2015 GEA Niro ... table top laboratory homogenizer, the PandaPLUS 2000, which is ... nanoemulsions , and cell disruption . This compact ... products, fruit juices, liquid food, food additives and ingredients ...
Breaking Biology Technology:Biofertilizers Market Expected to Reach $1,649.7 Million by 2019 - New Report By MarketsandMarkets 2Biofertilizers Market Expected to Reach $1,649.7 Million by 2019 - New Report By MarketsandMarkets 3Biofertilizers Market Expected to Reach $1,649.7 Million by 2019 - New Report By MarketsandMarkets 4Washington SmartCEO Announces Portal Solutions as 2015 Future 50 Award Winner Second Year in a Row 2Washington SmartCEO Announces Portal Solutions as 2015 Future 50 Award Winner Second Year in a Row 3Shimadzu’s New Monitored Single-Beam UV-Vis Spectrophotometer Offers Comprehensive Measurement Options in a Compact Body 2GEA Niro Soavi Announces the PandaPLUS 2000 Homogenizer for Processing New Applications for Nanoemulsions and Cell Disruption 2
... Sixth Annual Healthcare Unbound Conference & Exhibition, organized by ... coming together of consumer and healthcare technologies ... will take place at the Seattle Airport Marriott in ... include a diverse representation of the many business segments ...
... Nestle SA to select a new flavor ingredient ... and coffee whitener fields- Extension of discovery and ... collaborative research and license agreement with Campbell Soup ... filings for Bitter Blockers S0812 and S6821SAN DIEGO, ...
... Fla., May 7 Renewable fuels provider New Generation ... today announced that it has signed a contract with ... biofuel in an evaluation program for boiler applications in the ... of Baltimore has evaluated a non fossil fuel in its ...
Cached Biology Technology:Sixth Annual Healthcare Unbound Conference to Focus on Remote Monitoring, Home Telehealth & eHealth for Chronic Care Management & Wellness Promotion 2Sixth Annual Healthcare Unbound Conference to Focus on Remote Monitoring, Home Telehealth & eHealth for Chronic Care Management & Wellness Promotion 3SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 2SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 3SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 4SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 5SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 6SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 7SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 8SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 9SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 10SENOMYX ANNOUNCES FIRST QUARTER 2009 FINANCIAL RESULTS 11City of Baltimore to Evaluate New Generation Biofuels for Use in Boiler Applications 2City of Baltimore to Evaluate New Generation Biofuels for Use in Boiler Applications 3
4-Hydroxy-3-nitrophenylacetyl hapten is conjugated to SSA (Sheep serum albumin) lysine through amide bonds. This product is homologous to NP-BSA....
Antibodies were affinity purified using epitopes specific to Alpha4 immobilized on solid support....
Collected from 8-12 week old sexually mature rats. Pricing: $100/unit for 1 - 10 units...
... host strains are K-12 derivatives that have ... and glutathione reductase (gor) genes, which greatly ... Studies have shown that expression in Origami(DE3) ... another host even though overall expression levels ...
Biology Products: