Non-Carbon Fuels - Research Paper Example

Download file to see previous pages Although Figure 1 came from a 2004 material of the United States Energy Information Administration (US EIA) in 2004, the predictions were from a 1997 report that the US EIA adopted as a reference. In 1997, the prognosis on global warming was not as popular as they are popular today. Oil production was expected to decrease not as a result of greater awareness of global warming but because oil reserves were perceived to be drying up. Figure 1 that world oil production will reach a peak sometime 2010. From the peak, world oil production would decrease until 2150. The units of the data of Figure 1 are not clear nor indicated but Figure 1 clearly suggests that oil production would be zero in 2150 or around 140 years from now. Thus, based on Figure 1 that translated the forecast figures of a 1997 report into a graph, what is suggested really is that we actually have no choice but to prioritize our search for energy on non-carbon fuels.  Table 1 provides credibility to the forecasts made in 1997.  Table 1 reflects actual demand and supply figures for oil in terms of million barrels of oil a day for 2006 to 2009. In addition, Table 1 has forecast figures for demand for 2010 but complete forecast figures for oil supply are unavailable. Table 1 indicates that the supply of oil barely meets demand. In addition, there are instances wherein supply is not adequate and, presumably, unsatisfied demand had to be addressed by drawing oil not from production but from inventories or stockpiles. Table 1 suggests that because the production of oil barely meets demand, current production of oil is unable to build an adequate stockpile that will ensure a stable supply of oil in the years to come. Worst, Table 1 indicates that oil production was inadequate to meet demand during the first quarter of 2008, the third quarter of 2009, and the fourth quarter of 2009. In the first quarter of 2008, the demand for oil was 87.4 million barrels per day but production was only 87.0 million barrels. During the third quarter of 2009, demand for oil was 86.1 million barrels a day but supply was only 85.9 million barrels a day. Finally, during the fourth quarter of 2009, the demand for oil was 85.0 million barrels a day but supply was only 84.9 million barrels a day. The data even suggest that we have a supply crisis: the most recent data on oil production shows that supply figures fail to cover demand adequately. The data even provide the explanation for why the price of oil has been erratic. Just like Figure 1, Table 2 suggests that we have no better alternative but to prioritize on non-carbon fuels in our search for energy supplies. ...Download file to see next pagesRead More