Unconventional Oil: Illuminating the global
Paradigm Shift to New Petroleum Fuels
Juliet Eilperin, James
Bukhard
Brenda Brenda Pierce, David Burwell
Deborah Gordon
Wednesday, February 8,
2012
-Washington, D.C.
The make-up and geography of oil is changing.
The international Energy Agency (IEA), projects that several new oil types will
be introduced into the market to replace the loss of nearly 50 percent of
conventional oil by 2035. Yet despite expert warnings, global policymaking
communities lack a comprehensive understanding of the changing composition of
the oil supplies and their impact on the global climate. Brenda Pierce of the
U.S Geological Survey, Jim Burkhard of HIS-CERA, the Washington Post Juliet
Eilperin, and Carneige’s Deborah Gordon discussed the world of unconventional
oil and the paradigm shift underway in the petroleum resources. Camegie’s David
Burwell moderated
BP Statistical Review 2012
A comment...
Just as some still propagate the notion of peak oil, facts show the opposite.
World proven reserves in 1991 stood at 1032,7 thousand million barrels.
Ten years later, with average prices well below $ 20 per barrel the figure grew by 234,7 thousand million barrels, all of which were conventional crudes.
A decade after that, with average price in nominal terms had more than doubled, a new addition of 385,2 thousand million barrels brought the total to 1652,6. A big proportion of this addition was made of unconventional oil.
