See more from this Division: Overarching Sessions
See more from this Session: Energy and the Global Market—Betty Klepper CSSA Endowed Lectureship and Michael T. Halbouty GSA Distinguished Lectureship
Abstract:
Oil, gas and coal have consistently supplied between 91 and 93% of the world's energy supply for the last 60 years. Temporal variations in resource assessments and the economic uncertainties related to energy demand have always combined to make long-term prediction of actual fossil energy production difficult but, given the abundance of remaining fossil fuels, they are likely to remain the dominant part of the world's energy mix for decades to come.
An understanding of the global geographic distribution of fossil fuel is critical to consideration of future energy scenarios. Fossil fuels are widespread but enriched in a small number of locations where the geologic history was favorable for accumulation and preservation. Oil, for example, is produced in more than 110 countries but over 50% of the remaining economic oil lies within just five countries: Saudi Arabia, Russia, USA, Iran, and Iraq. Geographic concentration of energy resources has profound geopolitical implications, especially if there is instability within a major producing country or disruption in the supply routes.
See more from this Division: Overarching Sessions
See more from this Session: Energy and the Global Market—Betty Klepper CSSA Endowed Lectureship and Michael T. Halbouty GSA Distinguished Lectureship