International Energy Policy ( Iea )

In terms of oil dependence, most of the general public believes that the world has enough oil to support us for the next hundred years; in truth we are rapidly depleting our petroleum sources due to the increasing population and demand. In fact, as was initially theorized by the Hubbert Peak Theory in 1950, Earth peaked in oil supplies in 1973 and the largest oil resources that have been discovered since then have been in Venezuela and Saudi Arabia. Here it must be

It is estimated that 1.3 trillion barrels of oil reserve is left in the world’s major fields (Institution of Mechanical Engineers 2015). At present rates of consumption this will be enough oil to last approximately 40 years. By 2040, it is intended for production levels may be down to 15 million barrels per day which is approximately 20% of the amount of oil which is currently being consumed (Institution of Mechanical Engineers 2015). It is likely by the year 2040 that the world’s population will be twice as large (United States Census Bureau 2015). Additionally, it is likely that more of the world will be industrialized and therefore more dependent upon oil.

H.evidence/reason: Alison Singer references a previous claim that states that the US has enough natural gas to supply industries with 100 years worth of energy. However, more recent studies in 2013 have shown that the US’s energy industry may only produce approximately 24 years of an adequate flow of energy with the steady consumption of fossil fuels. Citation: (Singer, Alison)

On the same note, the energy revolution spoken of above brings forth another advance in the ongoing global climate situation. The nature of the Kyoto Protocol calls for nations to increase research and eventually semi-convert their energy usage to accommodate for cleaner energy. Products such as solar power, wind power, biomass, geothermal power, and hydropower are now widely being studying to create processes that use less coal, oil, and natural gas in production. Altogether the results have

In addition to the US peak oil situation, the US Oil Drilling and Gas Extraction Industry faces heavy foreign market competition. In 2011, the US ranked 3rd in oil production, behind Saudi Arabia and Russia (Energy, 2012). Saudi Arabia’s OPEC governor expects Saudi output to rise steadily beyond 2030 with a 1.5 million barrel per day spare production capacity then (Energy, 2012). Russia holds the world’s largest

Since the gasoline and fuel oil shortages of the 1970’s, the topic of renewable energy has been

is far from independent when it comes to energy, “about 40 percent of U.S. imported petroleum, a significant portion of all the petroleum that provides a third of national energy consumption flows from insecure, progressively more competitive foreign supplies, primarily in the Middle East, Asia, and Africa” (Rosenbaum, 2014 p. 279). This is inherently problematic as the nation relies on this imported oil to power everything from the electrical grid to the military. Sourcing this oil from unstable regions allows for these suppliers to have an unprecedented impact on the everyday operations of both the government and citizens. Furthermore the U.S. must keep good relations with the often-uncooperative nations that supply our foreign oil in order to maintain the supply flow, making this an issue of national security.

In 1973, President Nixon announced “Project Independence,” a full-scale effort to provide the capacity to meet American energy needs with American energy resources. Every President of the United States since Richard Nixon has repeated the goal of achieving energy independence and linked it to national security. This was a logical reaction to the crippling economic shocks caused by the Organization of Petroleum Exporting Countries’ (OPEC) oil embargoes in 1973-4. Energy independence is a seductive idea because it seems to provide U.S. with the economic freedom to walk away from the Middle East’s political instability. The problem with this scenario is it is poorly thought out because the results not only affect the U.S. domestically, but

Since the oil embargo of 1977, there has been an increased awareness of our nation's energy security. As global population and energy consumption rise, the need for a stable energy supply has become a hot topic and a politically volatile issue. As our negative trade balance grows larger by the day, the United States finds itself in a rather precarious position. We are becoming more and more dependent on Middle East oil.

The United States relies heavily on fossil fuels as its main source of energy and with the limited supply, we 'll have to develop and utilize alternative sources for clean, renewable, cheap and effective energy to power this country and the world into the future. It will be important for the health of our planet to utilize renewable resources that have no greenhouse gas emission. Out of necessity the world will eventually need to stop using fossil fuels for energy.

Energy is more than a utility that keeps the lights on in our homes or the gas in our cars; it’s a foundational resource that plays a key role in a nation’s ability to provided economic opportunity and basic services and security to its people. As such, it is imperative to a nation’s overall security that it develops/acquires access to energy, ensures energy needs are properly met and supplies are readily available, and disruptions minimized. Policy directs that the U.S. has a role in developing energy security throughout the world. For the U.S., we’ve long recognized the importance of energy security and have gone to great lengths to ensure its protection by developing depth and breadth in energy capabilities,

Our world economy depends upon petroleum; petroleum, in fact, has shaped the modern world. It has dictated production technologies and methods. It has facilitated the emergence of a worldwide transportation network. It has allowed cites to grow and expand, and determined the spatial landscape of regions. Due to our great need for petroleum, the scope of OPEC¡¦s power surpasses our prowess as an economic superpower, considering OPEC regulates the output and the price of oil from their reserves.

The International Energy Agency estimates that by the year 2003 forty percent of the world's energy production will be from sources other than fossil fuels or nuclear power. Nevertheless, the need for

The shale gas revolution calls into question the peak oil hypothesis, which predicts that the price of finite resource will increase dramatically in the future once oil production reaches a peak. The peak oil hypothesis assumes that on the supply side once fifty percent of total world reserves of petrochemicals are extracted production will peak and then go into rapid and permanent decline. Rising oil prices may stimulate drilling in marginal areas but because ninety percent of the worlds reserves have already been discovered this will do little to increase the ultimately recoverable reserves (URR) of oil. This pessimistic prediction for future oil production is combined with a very optimistic prediction for the future of energy consumption. The geologists are also skeptical of the potential of unconventional gas and oil reserves to replace conventional oil. The economic argument for peak oil has its origins in Jevons’ ‘Coal Question’ (1865) and Hotelling’s ‘The

World oil demand is increasing as emerging economies need more energy to increase their living standards. Estimates, shown below, are that by 2030, China and India as emerging markets will import over 70% to 90% of their fossil fuel needs (1) . Coupled to a continued high and growing demand for oil, makes this a robust market for the next 30 years.