Oil and Security: A World beyond Petroleum by E.G. Frankel

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By E.G. Frankel

This publication discusses the death of the unreliable and possibility providers use of sturdy and liquid fossil gasoline and the improvement of a sustainable international power procedure which assures environmental caliber and an equitable socio-economic system.

Although extra resources of oil have gotten to be had, offer of oil is turning into more and more much less safe. expanding petroleum expenditures, provide uncertainties, political elements, and environmental harm are forcing an intensive circulation in the direction of replacement fossil fuels similar to ordinary gasoline and tar sand/shale extracted oil, bio-fuels, and replacement power assets.

This publication presents an up to date evaluation of the socio-economic, political, and environmental elements forcing a brand new method of international power advancements and use, in addition to a overview of the choice gasoline and effort conversion know-how advancements in an effort to force destiny strength use in the direction of a cleanser, sustainable, and safer future.

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Example text

Introduction of available, often efficient, renewable energy sources has been painfully slow. S. Strategic Petroleum Reserve (SPR) provides some supply assurance. But this approach must be managed to assure its use as a supply security and not price-regulating instrument. , as well as global, energy policies must be reviewed and brought up to date so as to reflect the realities of supply, demand, environmental, and market characteristics. They must provide meaningful incentives for development and use of efficient alternative fuels and energy conversion methods so as to assure greater security of supply and provide resources for alternative fuel and energy conversion developments and use.

Little development of the oil fields in the Middle East occurred during the Second World War and it was only in 1945 that the center of attention for oil production by the oil majors moved from the Mexican Gulf and Caribbean to the Middle East, primarily the Persian Gulf. S. production of petroleum and about 27% of world total of 82 million bbls/day. At the same time we should recognize that in 1975 Persian Gulf production supplied 40% of world output of 52 million bbls/day. Persian Gulf oil is still the cheapest to produce but comparatively high transport costs and new finds of petroleum closer to major consumption centers with low transport costs are cutting into its market share.

The 2006 escalation of oil prices was largely demand driven. It was not sustainable, not only because the peaking of demand was temporary but also, as mentioned before, it drove the price to a level where many competing and more secure energy sources became very attractive. Now (2007) that the new commitments have been made, it will become difficult to reverse the situation, particularly if climate change and security as well as political concerns continue to influence both short- and long-term decisions.

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