The End of Oil as Primary Source of Energy

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Growing consumption of oil raise questions of availability and sustainibility.

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The End of Oil as Primary Source of Energy

  1. 1. PROBLEMATICThe current world oil consumption is 87,915 kBbl/day. The world total proven oil reserves is 1,478,974 million barrels. The current daily production rate is 83,241 kBbl/day (That means we consume more than we produce oops!). For the last 5 years (2005 to 2010), the world consumption has increased by 25%. Someone will ask me what about the reserves? of course, the past 5 years, the reserveshave increased by 29% but only 30% is recoverable by current methods and 55% by heavy high tech engineering methods. When is the end of oil as the primary source of energy By Eric ADANGBA, Hult Energy Club
  2. 2. INTRODUCTIONEnergy and persistence conquer all things.Benjamin Franklin(January 17, 1706 [O.S. January 6, 1705[1]] – April 17, 1790) was oneof the Founding Fathers of the United States. By Eric ADANGBA, Hult Energy Club
  3. 3. OPERATION OVERVIEW By Eric ADANGBA, Hult Energy Club
  4. 4. OPERATION OVERVIEW TODAY By Eric ADANGBA, Hult Energy Club
  5. 5. TOP 10 PRODUCER IN THE WORLD (KBbl/Day)• Russia 10450• Saudi Arabia 9761• USA 7805• Iran 4259• China 4103• Canada 3367• Mexico 2953• United 2848• Venezuela 2438• Nigeria 2436 2010 By Eric ADANGBA, Hult Energy Club
  6. 6. WORLD’S PRODUCTION Worlds Production of Oil 2010 =82000 K Barrel/Day 90000 80000 70000 60000Thousand of barril/Day 50000 40000 30000 20000 10000 0 1995 2000 2005 2008 2009 2010 Year By Eric ADANGBA, Hult Energy Club
  7. 7. TOP 10 RESERVE IN THE WORLD (Mbl) Top 10 Producer (Kbl/Day)• Saudi 262602 • Russia 10450• Venezuela 211170 • Saudi Arabia 9761• Canada 175214 • USA 7805• Iran 137010 • Iran 4259• Iraq 115000 • China 4103• Kuwait 104000 • Canada 3367• USA 97800 • Mexico 2953• Russia 60000 • United 2848• Libya 46420 • Venezuela 2438• Nigeria 37200 • Nigeria 2436 WATCH WHAT HAPPENNING TO THE OUTSIDERS By Eric ADANGBA, Hult Energy Club
  8. 8. WORLD’S RESERVE Worlds Oil Reserve 2011 16% Top 10 Rest of the World 84% By Eric ADANGBA, Hult Energy Club
  9. 9. TOP 10 OIL CONSUMPTION• United 19 528 Worlds Oil Consumption 2010• China 9 377• Japan 4 422• India 3 338 41% Top 10• Russia 3 041 59% Rest of the World• Brazil 2 724• Saudi Arabia 2 664• Germany 2 483• South Korea 2 249• Canada 2 234 WATCH THEIR FUTURE ACTION (BRIC) By Eric ADANGBA, Hult Energy Club
  10. 10. LEVEL OF DEPENDANCETop 10 Producer Top 10 Reserve Top 10 Consumer• Russia • Saudi • United• Saudi Arabia • Venezuela • China• USA • Canada • Japan• Iran • Iran • India• China • Iraq • Russia• Canada • Kuwait • Brazil• Mexico • USA • Saudi Arabia• UAE • Russia • Germany• Venezuela • Libya • South Korea• Nigeria • Nigeria • Canada IN TROUBLE: CHINA, JAPAN, INDIA, BRAZIL, SOUTH KOREA, GERMANY By Eric ADANGBA, Hult Energy Club
  11. 11. HOW LONG CAN WE SURVIVE?Dependence from OIL&GAS Years to survive• USA 62% 10• CHINA 22% 14• JAPAN 63% 7• INDIA 31% 18• BRAZIL 58% 16• GERMANY 56% 9• SOUTH KOREA59% NA• WORLD 45 By Eric ADANGBA, Hult Energy Club
  12. 12. OIL FUTURE We produce only 2.2% of the Daily Reserve and consume 100% of our production Future Worlds Oil 1995 2000 2005 2008 2009 2010 2011 Year 150000 50 100000 46 45 45 45 50000 44 44 43 0 40 -50000barril/Day -100000 35 -150000 Production 30 -200000 New Discovery -250000 Years to survive 25 -300000 OIL FUTURE IS UNCERTAIN, NOT PREDICTABLE -350000 20 The Discovery Rate is about 5% increase average YoY. By Eric ADANGBA, Hult Energy Club
  13. 13. WHEN OIL ENERGY WILL DIE? Oi l fi e l d s Esti m a te d Pro d u cti o n C o sts ($ 2 0 0 8 )Mideast/N.Africa oilfields 6 28 Arctic oilfields 32 100Other conventional oilfields 6 39 Heavy oil/bitumen 32 68CO2 enhanced oil recovery 30 80 Oil shales 52 113Deep/ultra-deep-water oilfields 32 65 Gas to liquids 38 113Enhanced oil recovery 32 82 Coal to liquids 60 113 COST OF DOING OIL BUSINESS IS LESS THAN THE OIL PRICE By Eric ADANGBA, Hult Energy Club
  14. 14. COMPARISION WITH SUBSTITUTES By Eric ADANGBA, Hult Energy Club
  15. 15. WHAT IS THE NEXT SOURCE OF ENERGY• HYDRO• NUCLEAR• COAL• WIND• GAS• SOLAR Need HULT MBA to crack it! By Eric ADANGBA, Hult Energy Club

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