Long Term Energy Stuff

[dan_s]

EIA projects 28% increase in world energy use by 2040. EIA Today In Energy.
The U.S. Energy Information Administration's latest International Energy Outlook 2017 (IEO2017) projects that world energy consumption will grow by 28% between 2015 and 2040. (My guess is that it will be more than this - dan) Most of this growth is expected to come from countries that are not in the Organization for Economic Cooperation and Development (OECD), and especially in countries where demand is driven by strong economic growth, particularly in Asia. Non-OECD Asia (which includes China and India) accounts for more than 60% of the world's total increase in energy consumption from 2015 through 2040. Through 2040, the IEO2017 projects increased world consumption of marketed energy from all fuel sources, except for coal demand, which is projected to remain essentially flat. Renewables are expected to be the fastest-growing energy source, with consumption increasing by an average 2.3% per year between 2015 and 2040. The world’s second fastest-growing source of energy is projected to be nuclear power, with consumption increasing by 1.5% per year over that period.


How Trump Can Harness the U.S. Energy Boom. New York Times, opinion.
The new energy abundance in the United States has given President Trump a historic opportunity not just to expand the country’s economy at home, but also to expand its leadership globally. To maximize this opportunity, he should think about energy as more than a driver of economic growth. The embrace of new technologies to extract oil and natural gas at an unprecedented rate has transformed one of America’s enduring vulnerabilities into a strategic asset. Thanks largely to fracking — hydraulic fracturing of rock — the United States is now the largest producer of oil and gas combined in the world. America consumes large quantities of energy, so this expanded production has not yet made the country energy independent. But it has greatly decreased its dependence on foreign energy: About a decade ago, the United States imported nearly two-thirds of the oil it consumed; that percentage is now closer to one-fifth. (Actually, we are still importing about 40% of the crude oil we consume daily - dan) America is now the largest exporter of refined petroleum products and, in the past year, has also become an exporter of crude oil and liquefied natural gas.


Senator Hoeven, industry want study of North Dakota oil potential. AP.
North Dakota oil drillers and U.S. Sen. John Hoeven want federal geologists to reevaluate the amount of recoverable crude oil in the state, saying a new assessment likely would show stronger production potential and attract investment. The U.S. Geological Survey once said two massive shale formations found in North Dakota held the largest continuous oil accumulation it ever assessed. But the title was given to a formation in Texas' Permian Basin last year, after a USGS assessment found nearly three times the amount of recoverable oil than in the Bakken and Three Forks formations. Hoeven now wants the USGS to take into account other formations in western North Dakota's oil patch that could be exploited using technology developed for the Bakken and the Three Forks directly below it. "The industry wants a broader study," the North Dakota Republican said. Hoeven said top officials at the USGS have given assurances that the study would be done, though it could take "a year or two" to begin.

Read: http://www.oilandgas360.com/china-will- ... aign_2015)