Friday, July 20, 2007

"Hard truths" about energy

First Shell Oil President John Hofmeister decides to travel around the country holding "town meetings" on the future of energy and warns that the U.S. needs a climate change policy now. And now the National Petroleum Council has issued a draft report (under the leadership of former ExxonMobil chief executive Lee R. Raymond) that delivers a similar message regarding the country's (and the world's) near-term and long-term energy options. Makes you wonder just how serious the situation really is.

According to The Oil Drum (a very informative Web site) the genesis of the National Petroleum Council's report dates back more than two years:

It started with a simple question by Samuel W. Bodman, the energy secretary: “What does the future hold for oil and natural gas supply?”

The query was made in October 2005 in a one-page letter sent to Lee Raymond, the former chairman of Exxon Mobil and head of the National Petroleum Council, a federal advisory group representing the oil industry.

After nearly two years, Mr. Raymond has finally delivered his answer.

The 422-page draft document was made available yesterday so the jury is still very much out on whether the report really reveals hard truths about energy or is really lavishing some tough love on the oil and gas industry. (GW)

US report tells 'hard truths' about energy

19 July 2007

The world is faced with a looming oil supply crunch that will require the United States to tap into all available energy sources and reduce its CO2 emissions, according to a draft report by the National Petroleum Council, an advisory body to the US government.

Brief News:

The US must moderate its growing demand for energy, diversify its energy sources and cut CO2 emissions if it is to meet the global energy challenge, according to the draft NPC report, "Facing the hard truths about energy".

The draft report was prepared under the leadership of former ExxonMobil chief executive Lee R. Raymond and presented to US Energy Secretary Samuel Bodman on 18 July. A final version is due for adoption in September.

The report is remarkable because it breaks with the formerly widely-held view in the US that technological advances and new discoveries would make oil a reliable source of energy for the foreseeable future. It comes only days after the International Energy Agency issued a similar warning, predicting an oil supply crunch in five years (EurActiv 10/07/07).

"The world is not running out of energy resources", the report states. "But there are accumulating risks to continuing expansion of oil and natural gas production from the conventional sources relied upon historically. These risks create significant challenges to meeting projected energy demand."

To tackle these risks, the NPC recommends five "core strategies" to "assist markets in meeting the energy challenges to 2030 and beyond". These include:

  • Moderating demand growth by "increasing efficiency in transportation, residential, commercial and industrial uses";

  • Expand and diversify energy production by tapping into ''all available economic energy sources, including coal, nuclear, renewables, and unconventional oil and natural gas" such as extra-heavy oil and bitumen;

  • Integrating energy in all other related policy areas including trade, economic, environmental, security and foreign policy;

  • Boosting R&D efforts to create long-term opportunities;

  • Reducing emissions of global warming gases "including the establishment of a transparent, predictable, economy-wide cost for CO2" and a regulatory framework for carbon sequestration and storage.

However, the report adds that these strategies will only cut US dependency on imported oil by one third by 2030. Analysts at Goldman Sachs recently predicted that oil prices could reach $95 a barrel by the end of the year.

The recommendations are similar to measures agreed by EU leaders in March based on an 'energy and climate change package' presented by the European Commission earlier in the year (see EurActiv LinksDossier)


Blogger ninest123 Ninest said...

ninest123 09.21
ray ban sunglasses, polo ralph lauren outlet, michael kors outlet, uggs on sale, oakley sunglasses, polo ralph lauren outlet, michael kors, louboutin, tiffany and co, ray ban sunglasses, jordan shoes, ugg boots, prada outlet, replica watches, tiffany jewelry, longchamp outlet, ugg boots, michael kors outlet, oakley sunglasses, burberry, nike air max, louis vuitton, ugg boots, louis vuitton, cheap oakley sunglasses, ugg boots, nike outlet, michael kors outlet, gucci outlet, ray ban sunglasses, louboutin outlet, tory burch outlet, burberry outlet online, nike free, michael kors outlet, replica watches, oakley sunglasses, louis vuitton, louis vuitton outlet, nike air max, louboutin shoes, longchamp outlet, christian louboutin outlet, louis vuitton outlet, longchamp, prada handbags, oakley sunglasses, michael kors outlet

2:38 AM  
Blogger ninest123 Ninest said...

oakley pas cher, michael kors, ray ban uk, hollister, vanessa bruno, nike roshe run, michael kors, true religion jeans, north face, air jordan pas cher, true religion outlet, michael kors, hermes, longchamp pas cher, tn pas cher, kate spade handbags, louboutin pas cher, nike air max, burberry, coach outlet, air max, michael kors, vans pas cher, coach outlet, mulberry, ray ban pas cher, converse pas cher, new balance pas cher, coach factory outlet, sac longchamp, true religion jeans, nike free, sac guess, lacoste pas cher, chanel handbags, hogan, timberland, kate spade outlet, nike air max, ralph lauren uk, nike blazer, ralph lauren pas cher, lululemon, coach purses, hollister pas cher, north face, true religion jeans, air force

2:40 AM  
Blogger ninest123 Ninest said...

hollister, beats by dre, valentino shoes, birkin bag, vans shoes, nike air max, mcm handbags, wedding dresses, soccer jerseys, mac cosmetics, hollister, celine handbags, nike trainers, giuseppe zanotti, jimmy choo shoes, ghd, nike air max, north face outlet, ferragamo shoes, abercrombie and fitch, baseball bats, iphone 6 cases, mont blanc, soccer shoes, longchamp, louboutin, reebok shoes, nfl jerseys, oakley, p90x workout, nike roshe, babyliss, insanity workout, new balance, bottega veneta, chi flat iron, nike roshe, timberland boots, north face outlet, hollister, nike huarache, lululemon, nike free run uk, abercrombie and fitch, asics running shoes, herve leger, ralph lauren, instyler

2:44 AM  
Blogger ninest123 Ninest said...

coach outlet, pandora charms, pandora charms, doudoune canada goose, swarovski crystal, montre pas cher, moncler, links of london, supra shoes, bottes ugg, louis vuitton, lancel, swarovski, moncler outlet, ugg,uggs,uggs canada, vans, moncler, gucci, hollister, ugg boots uk, pandora jewelry, juicy couture outlet, ray ban, thomas sabo, marc jacobs, juicy couture outlet, karen millen, toms shoes, ugg,ugg australia,ugg italia, doke gabbana outlet, louis vuitton, canada goose, pandora jewelry, canada goose outlet, canada goose, canada goose uk, converse outlet, ugg pas cher, nike air max, canada goose outlet, sac louis vuitton pas cher, wedding dresses, moncler, replica watches, louis vuitton, converse, barbour jackets, louis vuitton
ninest123 09.21

2:45 AM  

Post a Comment

<< Home