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Fossil fuels supply 80% of the worlds current  energy needs.
Oil 35.0%
Coal 25.0%
Natural gas 20.0%
Nuclear 6.5%
Hydro 2.2%
Biomass 11.0%
Solar, wind, geothermal 0.4%

 

Solar and wind sources are so energy dilute that they can never be a large scale replacement for fossil fuels.

More on this later....

Check the Price of Carbon Today.

ENERGY

April 11th 2007 Oil Reserves Continue to Grow Even Though Oil Production is also Increasing.

The idea that has been peddled by a number of people over many years that the world will run out of oil soon is beginning to get frayed around the edges. The proponents of this theory are being proven wrong by the gradual accumulation of figures that indicate that oil reserves called Ultimate Recoverable Reserves, URR and measured in billions of barrels (Gb) are actually increasing at an accelerating pace.   Doomsayers fall silent as reserves grow ever larger.

The reasons for this are is rooted in economics and based on the per barrel price of oil over that last few years.  At higher prices it becomes economically feasible to utilize more sophisticated technology to recover oil that would otherwise have been uneconomical to recover. A good example of this is the Exxon and Chevron oil fields projects in Bakersfield, California. For a complete discussion and a video see Oil Innovations Pump New Life Into Old Wells

World Crude Oil Production from the U.S. Energy Information Agency

Click the graphic for the full size version ..... Loadinh NYT graphic ...

The theory that oil supplies have peaked and are on their way down has made more than a few Americans nervous. They should relax. A new study confirms that the market, if left alone, will provide for decades.  Running On Empty? Not Yet

ETHANOL
The Boondoggle

Saving Starving Children Should Trump Global Warming Concerns. 

Last week, outgoing United Nations World Food Program chief James Morris reminded us that 18,000 children die every day from hunger and malnutrition. Morris called the situation “a terrible indictment of the world in 2007.”  by Steven Milloy of Fox News.



Ethanol from food sources (corn in particular) is going to cause huge problems and it doesn't do much, if any, good for the environment in terms of reducing CO2 emissions.  (see Greg Rideouts interview on the home page) And yes you guessed it - as usual the poor will suffer most.

Later we'll add some more discussion on ethanol made from sugar cane (cheap labour and the right climate are needed) and ethanol made from wood and other cellulosic sources (enzyme based processes difficult to scale up from the lab)

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WHAT IS THE REAL COST OF CORN ETHANOL?

Mexico Pays Heavy Price for Imported Corn

The Price of Corn

Biotech seeks to ease fuel's reliance on oil, corn

Corn Is Booming as Ethanol Heats UpLoading Corn prices ...