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Oil is hitting the headlines once again. The big increases in oil prices over the past two years are upsetting consumers and puzzling producers. The reasons are difficult to understand, since few people are familiar with the complex workings of the price regime for oil in international trade. It is said that sluggish investment is a major cause, but what are the reasons for inadequate investment in oil producing and refining plants during the last 20 years? Does oil have a future? We are told that oil production will soon peak because the rate of production is higher than replacement rates. Climate change problems are casting a shadow over the future of fossil fuels. There may, however, be a solution to the nefarious CO2 emissions in, for instance, technologies that sequestrate carbon. Oil's stronghold is the transport sector: cars, trucks, railway engines, planes, ships. The demand for oil would suffer a fatal blow if technical innovations in car engines make it possible to use an alternative fuel to petrol or diesel. New energy sources - wind, solar, tide, waves, geo-thermal - are both renewable and environment-friendly. Do they represent a threat to the future of oil? An international team of experts addresses these highly topical questions in this comprehensive volume.
Accompanying CD-ROM contains the appendix tables as Excel spreadsheets with detailed historical data on human population, energy consumption, and current information about present and future sources of energy.
Challenging the conventional wisdom surrounding high oil prices, this compelling argument sheds an entirely new light on free-market industry fundamentals. By deciphering past, present, and future geopolitical events, it makes the case that oil pricing and availability have a long history of being employed as economic weapons by the United State...
Energy may be the most important factor that will influence the shape of society in the 21st century. The cost and availability of energy significantly impacts our quality of life and the health of national economies. This book examines the energy sources that play a vital role in society.
Thirty years ago, our global energy landscape did not look remarkably different from what it does today. Three or four decades from now, it certainly will: dwindling oil reserves will clash with skyrocketing demand, as developing nations around the world lead their citizens into the modern energy economy, and all the while, the grave threat of catastrophic climate change looms ever larger. Energy worries are at an all-time high—just how will we power our future? With The Powers That Be, Scott L. Montgomery cuts through the hype, alarmism, and confusion to give us a straightforward, informed account of where we are now, and a map of where we’re going. Starting with the inescapable fact of our current dependence on fossil fuels—which supply 80% of all our energy needs today—Montgomery clearly and carefully lays out the many alternative energy options available, ranging from the familiar, like water and solar, to such nascent but promising sources as hydrogen and geothermal power. What is crucial, Montgomery explains, is understanding that our future will depend not on some single, wondrous breakthrough; instead, we should focus on developing a more diverse, adaptable energy future, one that draws on a variety of sources—and is thus less vulnerable to disruption or failure. An admirably evenhanded and always realistic guide, Montgomery enables readers to understand the implications of energy funding, research, and politics at a global scale. At the same time, he doesn’t neglect the ultimate connection between those decisions and the average citizen flipping a light switch or sliding behind the wheel of a car, making The Powers That Be indispensible for our ever-more energy conscious age.
Many events that affect global energy production and consumption have occurred since the second edition of Energy in the 21st Century appeared in 2011. For example, an earthquake and tsunami in Japan led to the disruption of the Fukushima nuclear facility and a global re-examination of the safety of the nuclear industry. Oil and natural gas prices continue to be volatile, and the demand for energy has been affected by the global economy. The third edition updates data and the discussion of recent events.Energy in the 21st Century has been used as the text for an introductory energy course for the general college student population. Based on student feedback, we have included several features that enhance the value of the third edition as a textbook. In particular, we have included learning objectives at the beginning of each chapter, end of chapter activities, a comprehensive index, and a glossary. Points to Ponder are abbreviated as P2P in the Learning Objectives boxes and are provided throughout the text. They are designed to encourage the reader to consider the material from different perspectives.