This document discusses twin threats to scarce resources of oil and water. It notes that as populations have grown, the highest quality resources have declined due to overconsumption. While some scarce metals have substitutes, oil and fresh water are invaluable resources without easy substitutes. The document warns that while the world will never completely run out of oil or water, the supply of high quality oil and fresh water is becoming scarce. It argues that these issues pose serious threats that were long ignored.
The document provides an overview of ERCOT's challenges and opportunities. It discusses resource adequacy issues including the aging generation fleet and increasing peak demand. It also covers wind growth in Texas, potential for demand response programs, updates on drought conditions, and progress on transmission projects.
The document discusses opportunities for investment in China's oil sector, specifically its ports, storage facilities, and other distribution infrastructure. It provides an overview of China's massive oil market and port sector, noting China's growing demand for crude oil imports and plans to further increase oil reserves. The document also shares statistics on China's main oil ports and strategic petroleum reserves, and discusses some focus areas for investment, like the port of Zhoushan. It frames China's oil market as a major opportunity for investors but notes that a new approach engaging local stakeholders is needed.
Jp morgan annual emea equity conference — londonevraz_company
This document provides an overview of Evraz Group, a vertically integrated steel and mining company, for investors attending the JPMorgan Annual EMEA Equity Conference in London on January 25-26, 2007. The summary includes highlights of Evraz's operations, financial performance in 1H2006, strategies for growth, and positioning in the Russian and CIS steel markets.
Objective Capital's Industrial Metals, Minerals & Mineable Energy Investment Summit 2011
Ironmongers' Hall, City of London
3 November 2011
Speaker: Steven Markey, CRU Strategies
This document discusses Amtrak's role in developing partnerships to improve and expand intercity passenger rail service. It outlines Amtrak's expertise and assets it can contribute, including its network, infrastructure, and experience operating passenger rail. The document also summarizes some successful state partnerships and Amtrak's process for working with states on projects funded by the American Recovery and Reinvestment Act. It emphasizes that partnerships will be key to Amtrak's future and seizing the opportunities provided by new rail legislation and funding.
Goldman Sachs Fourth Annual Global Steel CEO Forum finance15
This document is from a presentation by United States Steel Corporation given at the Fourth Annual Global Steel CEO Forum on December 3, 2008. It provides an overview of US Steel's vision, values, operations, strategic acquisitions, markets, outlook and approach to capital allocation. US Steel is the 5th largest global steel producer and has operations in North America, Central Europe and the Balkans producing a variety of flat-rolled and tubular steel products.
1) The study assessed the impact of agricultural activities on groundwater quality in Valikamam area, Jaffna Peninsula.
2) Groundwater samples were collected from domestic, public, and farm wells from January to April 2011 and analyzed for parameters like pH, EC, chloride, nitrate-N, and fluoride.
3) The results found high nitrate-N levels in farm wells, influenced by cropping system. Excess irrigation and inorganic fertilizer application above recommended levels at some farms also contributed to elevated nitrate-N in groundwater.
The document provides an overview of ERCOT's challenges and opportunities. It discusses resource adequacy issues including the aging generation fleet and increasing peak demand. It also covers wind growth in Texas, potential for demand response programs, updates on drought conditions, and progress on transmission projects.
The document discusses opportunities for investment in China's oil sector, specifically its ports, storage facilities, and other distribution infrastructure. It provides an overview of China's massive oil market and port sector, noting China's growing demand for crude oil imports and plans to further increase oil reserves. The document also shares statistics on China's main oil ports and strategic petroleum reserves, and discusses some focus areas for investment, like the port of Zhoushan. It frames China's oil market as a major opportunity for investors but notes that a new approach engaging local stakeholders is needed.
Jp morgan annual emea equity conference — londonevraz_company
This document provides an overview of Evraz Group, a vertically integrated steel and mining company, for investors attending the JPMorgan Annual EMEA Equity Conference in London on January 25-26, 2007. The summary includes highlights of Evraz's operations, financial performance in 1H2006, strategies for growth, and positioning in the Russian and CIS steel markets.
Objective Capital's Industrial Metals, Minerals & Mineable Energy Investment Summit 2011
Ironmongers' Hall, City of London
3 November 2011
Speaker: Steven Markey, CRU Strategies
This document discusses Amtrak's role in developing partnerships to improve and expand intercity passenger rail service. It outlines Amtrak's expertise and assets it can contribute, including its network, infrastructure, and experience operating passenger rail. The document also summarizes some successful state partnerships and Amtrak's process for working with states on projects funded by the American Recovery and Reinvestment Act. It emphasizes that partnerships will be key to Amtrak's future and seizing the opportunities provided by new rail legislation and funding.
Goldman Sachs Fourth Annual Global Steel CEO Forum finance15
This document is from a presentation by United States Steel Corporation given at the Fourth Annual Global Steel CEO Forum on December 3, 2008. It provides an overview of US Steel's vision, values, operations, strategic acquisitions, markets, outlook and approach to capital allocation. US Steel is the 5th largest global steel producer and has operations in North America, Central Europe and the Balkans producing a variety of flat-rolled and tubular steel products.
1) The study assessed the impact of agricultural activities on groundwater quality in Valikamam area, Jaffna Peninsula.
2) Groundwater samples were collected from domestic, public, and farm wells from January to April 2011 and analyzed for parameters like pH, EC, chloride, nitrate-N, and fluoride.
3) The results found high nitrate-N levels in farm wells, influenced by cropping system. Excess irrigation and inorganic fertilizer application above recommended levels at some farms also contributed to elevated nitrate-N in groundwater.
Vi proponiamo il nostro Corso Gestione Rifiuti al fine di migliorare le conoscenze inerenti alla gestione dei rifiuti e gli adempimenti connessi, integrando il tutto con approfondimenti e novità normative.
I requisiti per il riconoscimento della CAR - Cogenerazione ad Alto Rendimento. Presentazione a cura di G.Susanna (GSE) nel corso del Convegno "POLYGEN - COGENERAZIONE DIFFUSA E TRIGENERAZIONE" al Solarexpo di Verona 2012
Giovanni De Feo, Dipartimento di Ingegneria Industriale (DIIN) Università degli Studi di Salerno,
Seminario organizzato da Legambiente Campania e dal Consorzio ECOEM
Formazione SESEC Modulo 5: Fonti Rinnovabili e co-generazioneENEA DTE-SEN-CROSS
Questo è un modulo di formazione sviluppato nel progetto europeo SESEC. Per maggiori informazioni e per accedere agli altri moduli di formazione vedere qui: www.sesec-training.eu
The document discusses heat recovery in industry. It notes that heat recovery can provide thermal energy for internal or external heating demands, or can be upgraded for uses like cooling or electricity generation. Effective heat recovery requires considering factors like the temperature and availability of waste heat sources, the technologies available, investment criteria, characteristics of potential heat users, and the location of heat sources and users. Heat recovery can support district heating for industries, buildings, and other sectors.
Catalogo Italtesla 2017 | Lampade a induzione magneticaMarco Piacquadio
Catalogo lampade a induzione elettromagnetica per uso commerciale ed industriale. | Lampade a campana, sospensione, proiettori industriali, torri faro, lampioni stradali. Anno 2017
Per maggiori informazioni e listino vistitare www.italtesla.it
Brazilian honey production is strong, with year-round crops across the country supported by floral diversity and resistant hybrid bee species. Brazil has over 350,000 beekeepers organized in cooperatives and producing honey without antibiotic residues. Exports of Brazilian honey have grown significantly over the past decade, reaching over $100 million USD annually, with key export markets in Spain, the UK, Germany, and NAFTA countries. The outlook for continued growth in Brazilian honey exports is positive.
This document discusses SolarCity's history and innovations in the solar industry. It summarizes that SolarCity was founded in 2006 and has since grown to employ hundreds and install solar systems for thousands of customers across California, Arizona, and Oregon. It also describes some of SolarCity's key product innovations like the Soleo platform for system design, financing, installation, and monitoring, the SolarLease financing program, and the Canopy mounting system. The document emphasizes SolarCity's focus on continuous improvement, customer feedback, and empowering employees.
Vi proponiamo il nostro Corso Gestione Rifiuti al fine di migliorare le conoscenze inerenti alla gestione dei rifiuti e gli adempimenti connessi, integrando il tutto con approfondimenti e novità normative.
I requisiti per il riconoscimento della CAR - Cogenerazione ad Alto Rendimento. Presentazione a cura di G.Susanna (GSE) nel corso del Convegno "POLYGEN - COGENERAZIONE DIFFUSA E TRIGENERAZIONE" al Solarexpo di Verona 2012
Giovanni De Feo, Dipartimento di Ingegneria Industriale (DIIN) Università degli Studi di Salerno,
Seminario organizzato da Legambiente Campania e dal Consorzio ECOEM
Formazione SESEC Modulo 5: Fonti Rinnovabili e co-generazioneENEA DTE-SEN-CROSS
Questo è un modulo di formazione sviluppato nel progetto europeo SESEC. Per maggiori informazioni e per accedere agli altri moduli di formazione vedere qui: www.sesec-training.eu
The document discusses heat recovery in industry. It notes that heat recovery can provide thermal energy for internal or external heating demands, or can be upgraded for uses like cooling or electricity generation. Effective heat recovery requires considering factors like the temperature and availability of waste heat sources, the technologies available, investment criteria, characteristics of potential heat users, and the location of heat sources and users. Heat recovery can support district heating for industries, buildings, and other sectors.
Catalogo Italtesla 2017 | Lampade a induzione magneticaMarco Piacquadio
Catalogo lampade a induzione elettromagnetica per uso commerciale ed industriale. | Lampade a campana, sospensione, proiettori industriali, torri faro, lampioni stradali. Anno 2017
Per maggiori informazioni e listino vistitare www.italtesla.it
Brazilian honey production is strong, with year-round crops across the country supported by floral diversity and resistant hybrid bee species. Brazil has over 350,000 beekeepers organized in cooperatives and producing honey without antibiotic residues. Exports of Brazilian honey have grown significantly over the past decade, reaching over $100 million USD annually, with key export markets in Spain, the UK, Germany, and NAFTA countries. The outlook for continued growth in Brazilian honey exports is positive.
This document discusses SolarCity's history and innovations in the solar industry. It summarizes that SolarCity was founded in 2006 and has since grown to employ hundreds and install solar systems for thousands of customers across California, Arizona, and Oregon. It also describes some of SolarCity's key product innovations like the Soleo platform for system design, financing, installation, and monitoring, the SolarLease financing program, and the Canopy mounting system. The document emphasizes SolarCity's focus on continuous improvement, customer feedback, and empowering employees.
The document is the agenda for the Annual Meeting of Shareholders of Murphy Oil Corporation held on May 9, 2012. It includes presentations by David M. Wood, President and CEO of Murphy Oil, on the external environment facing the energy industry, an overview of Murphy's upstream and downstream portfolios, and conclusions. The agenda covers topics such as growing global population and energy demand, trends in global crude oil and natural gas supply and demand, and historical commodity prices.
IR and DFT analysis of Fischer-Tropsch catalystsBIOVIA
IR and DFT studies of Co/TiO2 Fischer-Tropsch catalysts. This work was presented at the 22nd North American Catalyst Society meeting on 9 June 2011. It elucitates the structure of Co and CoO Fischer-Tropsch catalysts used in production of synthetic fuels..
Climate Change and Agriculture: Building Resilience Through Better Water Management in Southern Africa
David Molden
International Water
Management Institute
Objective Capital Precious Metals, Diamonds and Gemstones Investment Summit
Focus on Gold: Challenges of gold mining in the US – reopening the Drumlummon Mine in Montana
20 May 2010
by David Wilson - Societe Generale
Alterra Power Corp. presents information on its renewable energy assets and growth strategy. It currently has 570 MW of operating capacity across hydro, wind, and geothermal projects in Canada, Iceland, and the US. Alterra aims to nearly triple its capacity to 1,295 MW by 2016 through expansions of existing projects and developing its 509 MW pipeline of wind, hydro, and geothermal projects. The company has an experienced management team with a proven track record of developing renewable energy projects.
This presentation was given by UDOT Program Development Director Cory Pope to the Infrastructure and General Governmental Appropriations Subcommittee on February 8, 2013.
IR and DFT studies of Co/TiO2 Fischer-Tropsch catalysts. This work was presented at the 22nd North American Catalyst Society meeting on 9 June 2011. It elucitates the structure of Co and CoO Fischer-Tropsch catalysts used in production of synthetic fuels..
FLE2012 - 8nov: Lucas Simons (voedselschaarste)MVO Nederland
This document summarizes challenges facing the agricultural sector and strategies for promoting sustainability. It notes that agriculture is an unsustainable sector due to factors like ineffective policies, low productivity, and lack of market demand for sustainable products. This leads to problems like environmental degradation. The document then discusses how Douwe Egberts coffee company could use its position to increase consumer demand for sustainable coffee and help prevent issues like food scarcity. Finally, it outlines a 4-step model for creating an efficient agricultural finance market that could help boost investment and sustainability.
Development Bank of Jamaica Presentation by Alexander OchsWorldwatchEn
The Worldwatch Institute's Director of Climate & Energy, Alexander Ochs, presents in Kingston to the Development Bank of Jamaica.about building a sustainable energy system in Jamaica.
1) Nitrous oxide emissions from agricultural soils are a major source of emissions in Australia, with fertilizer application being a key driver.
2) A study measured nitrous oxide emissions from wheat crops with different nitrogen sources and found significantly higher emissions when urea fertilizer was used compared to no fertilizer or a legume rotation.
3) Legume rotations supplied sufficient nitrogen for wheat growth in low rainfall years and generated less nitrous oxide emissions than urea fertilizer, though establishing legumes can be challenging in drier conditions.
This document summarizes online video trends in Europe. It finds that while growth of unique viewers and video views slowed in 2010, consumption has since shifted to higher quality, longer videos. There is demand for a quality viewing experience, wide range of engaging content, convenient accessibility, and pricing worth paying. As supply meets this demand, online video is being driven by improved broadband, more content from broadcasters and local specialists, and user generated content supplemented by partners. Syndication and social media make video more accessible, while advanced advertising allows optimized campaigns and understanding of impact. Overall online video is becoming more integrated with television.
This document summarizes a presentation on factors that define the economics of sandstone uranium mines, with a focus on grade. It states that grade and tonnage are the main economic factors, and minimum requirements are an average grade of 500ppm U3O8 and reserves over 300Mt. Capital costs are roughly $100-150 per pound of annual U3O8 production. Several examples of mines are discussed where actual costs exceeded initial estimates. The presentation recommends improving grade or tonnage before advancing projects beyond exploration.
This document summarizes a presentation on factors that define the economics of sandstone uranium mines, including grade, tonnage, commodity value, and costs of extraction and operation. It notes that a minimum grade of 500ppm U3O8 is needed for economic viability today, and that better grades above 1,000ppm are preferable to have sufficient contained metal for development. Capital costs are estimated at $100-150 per pound of annual U3O8 production. The presentation concludes by recommending improving grade or tonnage through further exploration before advancing to feasibility studies.
This document discusses challenges in wastewater treatment and sanitation, along with proposed solutions. The challenges include: maintaining high reliability at wastewater treatment plants; unclear responsibilities when contamination occurs; and issues from aging infrastructure. The proposed solutions center around implementing advanced online monitoring systems. These systems can help ensure treatment reliability, rapidly detect contamination sources to assign responsibility, and prevent stoppages through preventative maintenance based on integrated data analysis.
Infrastructure Australia will provide independent advice to improve Australia's infrastructure and consider sustainability and climate change in its work. This includes reviewing project approval processes, advising on issues from climate change, and ensuring sustainability is considered in setting infrastructure priorities. There is also political support for considering sustainability and prioritizing public transport infrastructure in cities. Considering sustainability is an opportunity for economic gains through more resilient infrastructure, renewable energy and transit options, and sustainable developments.
Looking Ahead: The Remaining Challenges for Latvia and the BalticsLatvijas Banka
Presentation by Cecilia Hermansson, Chief Economist of Swedbank at International Conference: "Against the Odds: Lessons from the Recovery in the Baltics" organized by the International Monetary Fund and the Bank of Latvia.
Riga, June 5, 2012
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
Structural Design Process: Step-by-Step Guide for Buildings
Lezione scarsità risorse
1. Twin Threats to Resource
Scarcity: Oil & Water
Matthew R. Simmons, Chairman Emeritus
Simmons & Company International
www.marsh.com
2. World Has Many Scarce Resources
As global population grew, highest quality resources declined.
Decades of cheap resources added
to over-consumption and discouraged
new resource exploration.
Most natural resources are
non-renewable.
List of scarce metals is striking:
– Copper
– Zinc
– Tungsten
To name but a few!
– Silver
– Gold
– Uranium
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 1
3. Many Scarce Resources Have Abundant Substitutes
World could learn how to get along without copper.
New technologies also obsolete some resource needs:
– Telephone lines and wires are fast becoming
obsolete
– Lead is barely used today
But, new technologies also create new
resource demands.
Lithium for batteries is classic example.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 2
4. Few Resources Are “Invaluable” But, Two Top This List
Oil created miracle of 20th century:
– Globalized travel
– Long-distance
– Suburban spread
– Globalized food
Water is even more priceless:
– Without water, we cannot create
modern energy
– Without water, we have no food
For a century, mankind ignored depletion
of both precious resources.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 3
5. World Will Never Run Out Of Oil Or Water
But, high quality (sweet and light) oil and
potable fresh water are becoming scarce.
Crude oil flows are steadily getting heavier
and more sour.
Many groups estimate remaining proven/
unproven oil resources, but fail to differentiate
high-quality flow. Source: Oil & Gas Middle East - April 2008
There are few estimates of remaining fresh
water/potable ground water.
Most of world’s usable water is now brackish
or saline.
Running short of oil or water used to be a
remote possibility.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 4
6. There Are Few Easy Substitutes For Oil
Years ago, oil was used to create electricity, although there
were always many other substitutes.
Today, crude oil is essentially transportation energy, with
few obvious alternatives:
– Compressed natural gas works great for fleets
– Electric cars/hybrids work,
but barely dent 900 million
internal combustion fuelled
vehicles
– Biofuels (except sugarcane
ethanol) are very energy/
water intensive to create
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 5
7. There Are No Substitutes For Potable Water
Only known substitute for fresh water is desalinated brackish
or seawater.
Historically, this process has been very energy intensive.
As global population
grows, water usage has
to rise for sanitation,
food production and
modern energy creation.
It is unclear whether this
can happen.
It is less clear what
happens if water supplies wane.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 6
8. Historically, We “Gave” Both Resources Away
From 1890 – 1970 (in current $) oil prices averaged only
$15/Bbl (or $.01 a cup).
Water was essentially free to many key users and cheap
for municipal water supplies.
Low prices for both resources defused supply concerns
and discouraged efficiency measures.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 7
9. Modern Energy Production Requires Vast Amounts
Of Water
USA’s power generation uses 40% of our fresh water.
In theory, it is recycled as rain “somewhere”.
A gallon of motor gasoline uses 2 – 3 gallons/water in
creation.
Water Use by Plant Type
900
800
Water Use gal/MWh
700
600
500
400
300
200
100
0
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 8
10. Some “Inconvenient Truths” About Oil
Flimsy statistics indicate that
global crude oil flow (excluding
NGLs, etc.) peaked in 2005.
Steep declines in North Sea,
Mexico and other key sources
are getting impossible to
overcome.
High quality light, sweet crude
flows rapidly dwindling:
– WTI is now “synthetic crude grade”
– Brent turned into blended Brent
Quality crude is being replaced Source: EIA Monthly Energy Report – March 2008
by “junk crude”.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 9
11. High Percentage Of Oil Flows Come From Very
Old Fields
≈300 giant/supergiant oilfields make up 2/3 of world supply.
Almost all these fields are past their peak flows.
Most are over 50-years old.
Most of remaining oil supply comes from small fields.
Horn Mountain / King Lobster/Oyster Llano (GB 387)
100 60 40
90 50 35
80 30
70 40
60 25
30
50 20
20
40 15
30 10
10
20 0
10 5
0 0
Nansen (EB 602)
Mars-Ursa Neptune (VK 825)
35
300 30 30
250 25
20 25
200
150 15 20
100 10 15
50 5 10
0 0
5
0
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 10
12. Junk Crude Is Harder To Refine Into Finished Oil
Junk crude is great source for asphalt
or bunker fuel.
But, most refineries were built to
process light/intermediate sweet crude,
not junk.
World’s population of complex
refineries are few and far between.
Creating motor gasoline, jet fuel and
diesel will get increasingly costly and
hard to grow.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 11
13. Some “Far More Inconvenient” Water Truths
“We are running out of fresh water.
This scarcity may be most under-
appreciated global challenge of our
time.”*
Many of world’s megacities (those
exceeding 10 million people) are now
experiencing “water shortages”:
– Mexico City
– Calcutta
– Cairo
– Jakarta
– Beijing
– Lagos
– Manila
*World Water Institute
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 12
14. More Inconvenient Water Truths
Tiny amount of world’s fresh water
comes from rivers, lakes and
streams.
“Aquifer supplied ground water” is
now primary fresh water supply.
Knowledge of aquifer water tables
is sketchy:
– Drilling wells into water tables is still
only accurate measurement
One giant oil well can drain an
entire aquifer.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 13
15. Water Scarcity Is Already A Major Health Hazard
Two billion people now live with un-sanitized water.
Over last decade, children
killed by diarrhoea caused
by polluted water exceeded
number of people killed in
all armed conflicts since
WWII.
Every eight seconds, a
child dies from drinking dirty
water.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 14
16. World’s Most Prosperous People Use Most Of Our
Water And Oil
USA uses ≈25 Bbls/oil per person/year.
Non-OECD countries use 2.7 Bbls/oil per person/year.
Average water use per person in North America is 600 litres
per day.
Outside North America,
average person only
uses 50 litres/day for
drinking, cooking and
sanitation.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 15
17. How Did “We” Get In Such A Mess?
WORLD POPULATION GROWTH
Two easy answers:
– The world’s rich got
richer and richer
– Global population grew
too fast
Source: Wikipedia
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 16
18. Middle East Is Epicenter Of This Scarcity Crisis
Too many people still think Population
1970 1980 1990 2000 2010* Est
Middle East is sparsely Population in Thousands
Bahrain 220 348 501 635 738
populated. Egypt 33,574 42,634 54,907 65,159 80,472
Iran 26,854 39,422 56,669 63,273 67,038
Iraq 9,414 13,233 18,140 22,679 29,672
Combined population grew Israel 2,903 3,737 4,478 6,115 7,354
Jordan 1,503 2,163 3,267 4,688 6,407
almost three-fold from Kuwait 748 1,370 2,142 1,974 2,789
Lebanon 2,383 2,899 3,440 3,791 4,125
1970-2010. Oman 783 1,185 1,794 2,432 2,968
Qatar 115 237 446 627 841
There are now more people
Saudi Arabia 6,109 9,999 16,061 23,147 29,207
Syria 6,258 8,752 12,500 16,471 22,198
Turkey 35,758 45,048 56,561 67,329 77,804
in the Middle East than in United Arab Emirates 249 1,000 1,826 3,219 4,976
Yemen 7,098 9,133 12,416 17,407 23,495
USA and Canada. Total 133,969 181,160 245,148 298,946 360,084
Source: U.S. Census Bureau
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 17
19. Population Growth Caused Explosion In Oil Use
Oil Consumption
Total Middle East oil 1980 1990 2000 2008
Thousand Barrels/day
consumption was 2.6 million Bahrain 16 20 23 44
Egypt 260 465 553 702
barrels per day in 1970. Iran 590 1,003 1,248 1,741
Iraq 217 400 462 616
By 2008, it had grown from Israel
Jordan
160
37
165
66
255
101
251
111
3.1X to 8.1 million barrels Kuwait
Lebanon
106
45
85
33
264
106
351
93
per day. Oman
Qatar
17
17
39
28
53
48 123
96
Saudi Arabia 610 1,107 1,537 2,376
But, per capita consumption Syria
Turkey
110
314
205
477
256
667
273
676
only grew from 7.1 barrels per United Arab Emirates 75 243 330 525
Yemen 45 76 97 152
person per year to 8.2 barrels . Total 2,618 4,411 6,000 8,130
Source: IEA
As prosperity and jobs finally spread, the per capita oil use
could soon soar.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 18
20. Fresh Water Always Scarce In The Middle East
Only handful of key rivers deliver fresh water to limited areas in
Middle East:
– Nile River
– Tigris River
– Euphrates River
Now, all suffer from “hot stains”
and increasing salinity.
Desalination became Middle
East’s water solution:
– Saudi Arabia, alone, accounts for
25% of world’s desalinated water
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 19
21. Oil Exports Will Wane If Middle East Oil Supply Does
Not Grow
Given current population trends, Middle East could have
500 million people within a decade.
If per capita oil consumption
grows from 8 to 12 barrels/
person/year, this would double
current internal oil consumption.
If production stays flat, exports
would fall by ≈25%.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 20
22. Could The World Get Along With Shrinking Middle
East Oil Exports?
Future energy projections assume increase in Middle East
oil exports will fuel future growth.
IEA’s latest forecasts summarize this dilemma:
“To keep current oil supply flat through 2030, world needs four new
Saudi Arabias.”
Source: IEA World Energy Outlook 2008
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 21
23. It Is Time To Properly Price Oil And Water
The replacement cost of incremental oil
is far higher than $147/barrel.
If energy producers had to pay a fair
price for the water they use, this would
raise energy prices much higher.
Why do we know so little about what
constitutes a fair price for oil and water?
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 22
24. How Did We Get Into Such A Deep Hole?
Rule #1: When you are in a deep hole: STOP DIGGING!
Is there anyway to stop digging
ourselves into an ever-deeper
oil and water hole?
The intertwining of oil and water
is historical irony.
The two do not mix and we can
not get along without both.
Lack of transparent data was the shovel responsible for
this deep hole.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 23
25. Is It Always Darkest Before Dawn?
There is a dawn ahead in solving this dilemma.
It is Ocean Energy: A New Era.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 24
26. The Gulf Of Maine Will Become Test Ground For
Creation Of Ocean Energy
Ocean Energy Institute (OEI) is helping create world-class deepwater
wind in Gulf of Maine.
Maine’s offshore wind will create kilowatts to combine with seawater.
Output creates NH3 (liquid ammonia) and desalinated seawater.
Through advanced composites, deepwater wind can be profitable
without subsidies.
Electricity created Combine 3 Hydrogen with
Offshore Wind Electricity Hydrogen 1 Nitrogen
NH3
Liquid Ammonia
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 25
27. If It Works In Maine, It Can Scale Globally
Recent Rice University Conference “From Gulf of Maine to
Gulf of Mexico” highlighted
opportunity for development
of offshore wind in Gulf of
Mexico and around the globe.
Particularly valuable for
China, India and the Middle
East.
Unclear which by-product will
be most valuable:
– Liquid ammonia; or
– Desalinated water
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 26
28. Several New Technological Advances Improve Offshore
Wind Turbines
The University of Maine’s advanced composites (light, yet
strong material).
Forward osmosis.
Process to alter
electrolysis.
All could result in
costs lower than
most alternate
energy sources.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 27
29. Other Pending Ocean Energy Initiatives
Once Wind Project is underway, OEI plans to embark on
evaluating every form of energy from the oceans:
– Tides
– Waves
– Currents
– Aquatic biofuels
All hold great promise and
are little understood
– Seeps
– Gas hydrates
– OTEC
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 28
30. Ocean Energy Is Our Last Frontier
We know oceans contain vast energy sources.
We know oceans make up 70% of our globe.
Location is ideal: 60% of global population work and live
within 50 miles of coastlines.
Offshore wind is highest quality
wind (and free).
Other ocean sources can also
be tapped.
2.5 million new jobs could be
created in U.S. alone with
clean-energy investments.
This exciting opportunity is where offshore oil and gas was
80-years ago.
Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 29
31. Marsh’s National Oil Companies’ Conference 2010 February 22 - 24, 2010 – Intercontinental Hotel, Festival City, Dubai 30