An Optimistic View
There are several good reasons to believe in a higher oil price than the current less than US$50 a barrel. The Norwegian continental shelf is still a world-class petroleum province.…
Global Resource management
The Future is Shale
Shale oil and gas were considered rarities ten years ago. In the future these resources will constitute a sizable share of the market. The ‘shale shock’ is very well illustrated…
How Much is ‘A Tiny Fraction’ 20 Years From Now?
The world’s use of energy will increase in years to come. There is plenty of oil to cover demand. However, the big question is if, and possibly at what rate,…
Explaining US$85 per Barrel
Nobody – absolutely nobody – was able to predict what was about to happen. In just three years, oil production from tight* reservoirs in the US tripled from 1 MMbopd…
Oil is Still in the Lead
Oil is still our largest energy provider. And while fossil fuels predominate, renewables have a long way to go before they can make a considerable impact. Total energy consumption increased…
Hubbert’s Peak: Not Yet Reached
It is difficult to make predictions about the future. This is also true when it comes to oil production. In 1956, Shell geophysicist M. King Hubbert predicted that US oil…
Check Your Knowledge
By 2040, the world’s population will increase by about two billion. How much energy will we need to power this growth? Did you know that China is the world’s leading…
Oil in Demand
Despite the accepted need to reduce greenhouse gas emissions, oil production is set to increase for the next 30 years, according to the US EIA . Worldwide consumption of petroleum…
A 25-year anniversary
The Valdez spill was the largest ever in US waters until the 2010 Deepwater Horizon accident. A massive clean-up effort was instigated immediately, with more than 11,000 Alaskan residents involved. While the…
Deep Energy
Exploring and exploiting geothermal energy benefits the environment and creates opportunities for geoscientists. Geothermal energy is stored in the form of heat below the Earth’s surface. The main source of…
A World of Plenty
Shale gas resources are potentially huge, but so far only the US that has taken advantage of this low permeability reservoir rock. Shale gas has rejuvenated the natural gas industry…
Highly dependent on oil revenues
Algeria, with a current population of 36 million, has been an oil producing country since 1958. This was made possible by two commercial discoveries in 1956, Edjelleh and Hassi Messaoud,…