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U.S. Energy Market: Part 1 Consumption. We consume 26% of World Energy or nearly 20 mmbo per day Mature market economy. U.S. Energy Consumption, 1775-1999. Energy Consumption by Fuel, 1949-2020. U.S. Energy Flow, 1999 (Quadrillion Btu). Transportation Consumption. Industrial Consumption.
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U.S. Energy Market: Part 1Consumption We consume 26% of World Energy or nearly 20 mmbo per day Mature market economy
Long-Term Heating Oil Use (1947-1999)Residential, Commercial & Farming
Cost of Household Energy, 1979-1999Inflation Adjusted to 2000 Dollars
Gasoline Consumption O& G Journal - 7/24/2000
Gasoline Additives & Markets O& G Journal - 7/10/2000
Environmental Investments O& G Journal - 7/17/2000
Coal • Major source of energy since 19c. • Production in eastern and western US • Significant CO2and particulate emissions • Cleaner plants (still disposal issue) • Coalbed methane (capital investment) • International CO2 reduction (e.g., EPA/China) • Coal consumption down -both US & World • Key factors in production: rank, thickness, continuity of beds; sulfur content; transportation; politics
Nuclear • Significant since early 1970’s • No new plants approved, but licenses renewed in several • Many plants deactivated • Nuclear waste disposal issue • International issues - Russia/FSU - France/Korea/Japan • Three Mile Island (1979) & Chernoble (1986)
Types of Oil and Gas Wells • Exploration (high risk) ~10% av. success rate Frontier New basins • Development (lower risk) Fields (Rocky Mt thrust belt v. Permian Basin)
Technically Recoverable Petroleum Resource Estimates, January 1, 1999
Technically Recoverable Petroleum Resource Estimates, January 1, 1999
Technically Recoverable Petroleum Resource Estimates, January 1, 1999
Summary • U.S. oil production will continue to decline • U.S. increasing will be dependent upon oil imports • Natural gas is of growing significance • Renewable energy and new technologies are extremely important • Protecting the environment is a high priority • A strong economy is a high priority