Energy Crisis On The Way ?

[ButterflyMaiden]

Globalisation is hot news at the moment with the forthcoming G8 meeting. Africa seems to have grabbed all the headlines but it is not the only item on the G8 agenda. More worrying is what is not on the agenda.

 

One important facet of globalisation is increasing interdependence in the energy sector. Deregulation of energy markets, in tandem with depleting oil and gas reserves, have accelerated the process. We can look across continents at forward price curves which provide firm evidence of interdependence. [there are credible arguments that the distinguishing feature of globalisation is interconnectedness .. but in the case of the energy sector the arguments are weak]

This is uncomfortable given that Western economies are dependent on growth of energy consumption but, in the medium term, is sustainable [economically], given the existence of a global energy market.

It now seems that Russia is looking to establish a strategic position which has the potential to destabilise the energy market. Herald Tribune

This is undoubtedly a major event in global economics .. for some reason it has not made UK headlines... but we have every reason to be concerned.

Furthermore, two major oil companies have, in the last two weeks, warned the UK government that oil and gas reserves are depleting much faster than predicted.

Are we about to experience a major energy crisis ?

[Rog]

Oil production peaked some years ago and is now in decline as resources are being exhausted. It is time that the switch to Atomic energy was restarted. Despite all the rabbit from the left wing lentil eaters there is no viable alternative.

[the mo beats experience]

Oil production peaked some years ago and is now in decline as resources are being exhausted.  It is time that the switch to Atomic energy was restarted.  Despite all the rabbit from the left wing lentil eaters there is no viable alternative.

<{POST_SNAPBACK}>

I eat chips&gravy, i say wind farms, solar panels and hydro energy resources.

[Rog]

Oil production peaked some years ago and is now in decline as resources are being exhausted.  It is time that the switch to Atomic energy was restarted.  Despite all the rabbit from the left wing lentil eaters there is no viable alternative.

<{POST_SNAPBACK}>

I eat chips&gravy, i say wind farms, solar panels and hydro energy resources.

<{POST_SNAPBACK}>

 

They don't produce nearly enough energy to meet our needs and never will.

[Slim]

They're not viable. Wind farms will never be viable, the output is too pathetic. Hyrdo Electric works for some countries who have the natural resource to tap it, but even then it's just a high percentage of energy production, nowhere near all.

 

Rog, there's conflicting arguments as to weather oil production has actually peaked. The hubbart curve stuff is pretty scary though, when you see the rate at which prices rise as demand continues to grow while production drops off. Then when you consider all the things that oil provides, apart from fuel, it gets quite scary. Things like petrochemicals in ferteliser and polymers and the use of fuel in manufacturing.

 

The other really worrying thing is the accuracy of estimated oil reserves. Now I accept that these could be innacurate in either direction, the oil companies and Sauds could be under estimating to keep prices high, but they could also be over estimating to keep their share price high too.

 

The only thing that can replace the amount of power generated from fossil fuels in the medium term is nuclear engergy.

[Lonan3]

I think its being a bit simplistic to dismiss wind power as 'pathetic.' the countries that had enough foresight to invest in it while the rest of us were clinging to the past or embracing the downright dangerous alternatives are ultimately going to benefit; as, for example Denmark:

 

http://www.scandinavica.com/culture/nature/wind.htm

 

And remember, of course, that wind power is only one of the many sources of renewable, clean energy sources that have been, or are being, developed.

[RC-Drift.com]

Oil production peaked some years ago and is now in decline as resources are being exhausted.  It is time that the switch to Atomic energy was restarted.  Despite all the rabbit from the left wing lentil eaters there is no viable alternative.

<{POST_SNAPBACK}>

I eat chips&gravy, i say wind farms, solar panels and hydro energy resources.

<{POST_SNAPBACK}>

 

They don't produce nearly enough energy to meet our needs and never will.

<{POST_SNAPBACK}>

Balls!

 

Let us all know precisely what humungous percentage of windpower is currently being harnessed....and I bet it's not even 1/100th of 1%

[Slim]

Let us all know precisely what humungous percentage of windpower is currently being harnessed....and I bet it's not even 1/100th of 1%

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Er, how are you going to harness all windpower exactly? Denmark, the worlds leader in the tech can only squeeze 20% of their generation out of windpower. And they've got a coastline and a lot of space. How do you think Hong Kong will manage it?

 

Australia is committed to wind turbines heavily, and estimates they can be producting 20% by 2040. Wow, eh? It's just not enough. It's very noble, it's very green, and I'd love it if it worked, but it's just not enough.

 

Wind power is pitiful, as that denmark link above shows. 72 turbines for 166mw. That's half the capacity of the power plant in a nuclear sub, for a massive investment in resource and phisical space. A single nuclear plant will generate 1000's of mw by comparrison.

 

The biggest problem with wind turbines is the power it takes to build them. They're huge things, that trickle pitiful amounts of power back into the grid.

 

Realistically we need a combination of new technologies, but if a serious energy crisis hits in the next ten years, nuclears currently the only thing that stands a chance of sustaining our power needs. Feck knows what's going to replace petrochemicals.

[RC-Drift.com]

We´ll all be getting the pushbikes out again and going back to steam powered cars