Navigation Links
World crude oil production may peak a decade earlier than some predict
Date:3/10/2010

In a finding that may speed efforts to conserve oil and intensify the search for alternative fuel sources, scientists in Kuwait predict that world conventional crude oil production will peak in 2014 almost a decade earlier than some other predictions. Their study is in ACS' Energy & Fuels, a bi-monthly journal.

Ibrahim Nashawi and colleagues point out that rapid growth in global oil consumption has sparked a growing interest in predicting "peak oil" the point where oil production reaches a maximum and then declines. Scientists have developed several models to forecast this point, and some put the date at 2020 or later. One of the most famous forecast models, called the Hubbert model, accurately predicted that oil production would peak in the United States in 1970. The model has since gained in popularity and has been used to forecast oil production worldwide. However, recent studies show that the model is insufficient to account for more complex oil production cycles of some countries. Those cycles can be heavily influenced by technology changes, politics, and other factors, the scientists say.

The new study describe development of a new version of the Hubbert model that accounts for these individual production trends to provide a more realistic and accurate oil production forecast. Using the new model, the scientists evaluated the oil production trends of 47 major oil-producing countries, which supply most of the world's conventional crude oil. They estimated that worldwide conventional crude oil production will peak in 2014, years earlier than anticipated. The scientists also showed that the world's oil reserves are being depleted at a rate of 2.1 percent a year. The new model could help inform energy-related decisions and public policy debate, they suggest.


'/>"/>

Contact: Michael Bernstein
m_bernstein@acs.org
202-872-6042
American Chemical Society
Source:Eurekalert  

Page: 1

Related biology news :

1. The worlds oldest bacteria
2. When bivalves ruled the world
3. Brains timing linked with timescales of the natural visual world
4. Amid spiralling government interest, worlds top 350 DNA barcode scientists meet in Taipei
5. Smithsonian scientists help lead effort to barcode worlds species
6. NASA celebrates a decade observing climate impacts on health of worlds oceans
7. The best both of worlds -- how to have sex and survive
8. NASA celebrates a decade observing climate impacts on health of worlds oceans
9. Amid spiralling government interest, worlds top 350 DNA barcode scientists meet in Taipei
10. Leading experts cite poor health and nutrition as major barrier to education in developing world
11. Researchers examine worlds potential to produce biodiesel
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
World crude oil production may peak a decade earlier than some predict
(Date:6/30/2017)... 30, 2017 Today, American Trucking Associations ... of face and eye tracking software, became the ... program. "Artificial intelligence and advanced ... monitor a driver,s attentiveness levels while on the ... to detect fatigue and prevent potential accidents, which ...
(Date:5/16/2017)... , May 16, 2017   Bridge ... health organizations, and MD EMR Systems , ... development partner for GE, have established a partnership ... Portal product and the GE Centricity™ products, including ... EMR. These new integrations will ...
(Date:4/17/2017)... , April 17, 2017 NXT-ID, Inc. ... company, announces the filing of its 2016 Annual Report on Form ... Exchange Commission. ... Form 10-K is available in the Investor Relations section of the ... on the SEC,s website at http://www.sec.gov . 2016 ...
Breaking Biology News(10 mins):
(Date:10/12/2017)... ... , ... AMRI, a global contract research, development and manufacturing ... and quality of life, will now be offering its impurity solutions as a ... requirements for all new drug products, including the finalization of ICH M7 earlier ...
(Date:10/11/2017)... ... October 11, 2017 , ... ... its endogenous context, enabling overexpression experiments and avoiding the use of exogenous expression ... guides is transformative for performing systematic gain-of-function studies. , This complement to ...
(Date:10/11/2017)... (PRWEB) , ... October 11, 2017 , ... ... pathology, announced today it will be hosting a Webinar titled, “Pathology is going ... Pathology Associates , on digital pathology adoption best practices and how Proscia improves ...
(Date:10/11/2017)... Tbilisi, Georgia (PRWEB) , ... October 11, 2017 , ... ... disaster, taking the lives of over 5.5 million people each year. Especially those living ... the greenovative startup Treepex - based in one of the most pollution-affected countries globally ...
Breaking Biology Technology: