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:12/19/2016)... TORONTO , 19 de diciembre de 2016  Mosaic Biomedicals ... el desarrollo acelerado de MSC-1, un anticuerpo humanizado que se espera ... en 2017, con múltiples sitios previstos a lo largo de Europa ... MSC-1 ... factor inhibidor de leucemia (LIF), una citoquina pleiotrópica que se sobreexpresa ...
(Date:12/15/2016)... FREMONT, Calif. , Dec. 15, 2016   ... a publicly held genomics technology company, announced today that ... the Listing Qualifications Department of The Nasdaq Stock Market ... the closing bid price of WaferGen,s common stock had ... days.  Accordingly, WaferGen has regained compliance with Listing Rule ...
(Date:12/12/2016)... Dec. 12, 2016  Researchers at Trinity College, ... graphene by combining the material with Silly Putty. The ... pressure detector able to sense pulse, blood pressure, ... spider.  The research team,s findings ... read here:  http://science.sciencemag.org/content/354/6317/1257 ...
Breaking Biology News(10 mins):
(Date:1/23/2017)... (PRWEB) , ... January 23, 2017 , ... ... replacement at the Caribbean Neurosciences Symposium (CANS) annual meeting in Montego Bay, Jamaica ... technology and host a hands-on workshop for surgeons to experience the simplicity of ...
(Date:1/21/2017)... , ... January 21, 2017 , ... ... endeavors to bring to market a pioneering medical device for the treatment of ... an engagement contract with Emergo, a global regulatory consultancy that helps companies like ...
(Date:1/21/2017)... 2017   Boston Biomedical , an industry leader ... cancer stemness pathways, today presented data from two clinical ... 2017 American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers ... In a Phase Ib/II study of napabucasin ... cancer stemness pathways by targeting STAT3 – colorectal cancer ...
(Date:1/20/2017)... NEW YORK , January 20, 2017 ... Health Organization, cancer is one of leading causes of ... in 2012. Although the number of cancer related deaths ... since 1990. Rising in incidence rate of various cancers ... According to a research report by Global Market Insights, ...
Breaking Biology Technology: