A Thousand Barrels a Second: The Coming Oil Break Point and by Peter Tertzakian PDF
By Peter Tertzakian
In 2006, global oil intake will exceed one thousand barrels in keeping with moment. the scoop marks an very important swap that might have a far-reaching impression on international economies, investments, and enterprise profitability. In 1000 Barrels a moment, leader strength Economist of ARC monetary Peter Tertzakian examines the way forward for oil and bargains insights into what it is going to take to rebalance our strength wishes and grab new possibilities. He solutions the pinnacle questions requested by way of company leaders, coverage makers, traders, and anxious voters as we procedure the arrival holiday aspect: Are modern-day excessive oil and gasoline costs a part of a regimen company cycle, or are there extra profound forces at play? Are hybrid automobiles our simply resolution opposed to excessive fuel costs? Is China's transforming into thirst for power sustainable? Which executive rules paintings and which don't? Will nuclear energy and coal shop the day-again? Tertzakian additionally deals a pragmatic, trained glance into the way forward for our strength provide chains and the way our intake styles may well evolve, revealing how governments, companies, or even members can meet the arrival demanding situations with higher ideas and thoughts.
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Additional info for A Thousand Barrels a Second: The Coming Oil Break Point and the Challenges Facing an Energy Dependent World
C H A P T E R 2 The Thirty-Three Percent Advantage T oday we have advanced well beyond whale oil and kerosene to a mixture of fuels that meet our needs for illumination, power, and transportation. Those fuels include petroleum, natural gas, nuclear power, coal, and even solar and wind power. Together, they combine in ways we can barely imagine to make our air conditioners work and our factories hum. While the crucial and irreplaceable fuel is petroleum—the light sweet crude mentioned in Chapter 1—our reliance on the mix of fuels is so seamlessly woven into our daily lives that we take cheap, secure, clean energy almost entirely for granted, a birthright of our modern age.
Immediately following the Great War, Mosul became the focus of intense global attention because it sat above an oil ﬁeld of tremendous promise in what was then known as Mesopotamia. Oil in the general region was old news. While following the Silk Route to China in 1271, Marco Polo observed that: “On the conﬁnes (of Armenia) towards Zorziana (Georgia) there is a fountain from which oil springs in great abundance, insomuch that a hundred shiploads might be taken from it at one time. This oil is not good to use with food, but it is good to burn, and is also used to anoint camels that have the mange.
One merely had to unscrew the double-tube cap of the whale lamp and replace it with a kerosene burner. Rebalancing to this new fuel was all the more remarkable because so little trouble was required to adapt our hardware infrastructure. Today, as we look for radical new technologies or fuels to solve our problems, we need to consider how readily or successfully they can be adopted. The success of that switch-over depends on such things as price, quality, and how easy it is for consumers to make the change.
A Thousand Barrels a Second: The Coming Oil Break Point and the Challenges Facing an Energy Dependent World by Peter Tertzakian