Key Words Flashcards
Renewable/sustainable energy
Sources of energy such solar and wind power that are not depleted as they are used.
Energy mix
The relative contribution of different energy sources to a country’s energy production/consumption.
Proved oil resources
Quantities of oil the geological and engineering information indicates with reasonable certainty can be recovered in the future from known reservoirs under existing economic and operating conditions.
Fossil fuels
Fuels consisting of hydrocarbons (coal, oil and natural gas), formed by the decomposition of prehistoric organisms in past geological periods.
Reserves-to-production (R/P) ratio
The reserves remaining at the end of any year are divided by the production in that year. The result is the length of time that those remaining reserves would last if production were to continue at that level.
Supply shock
A significant interruption to supply due to an environmental, economic or political event.
OPEC
The Organisation of Petroleum Exporting Countries.
Peak oil production
The year in which the world or an individual oil producing country reaches its highest level of production, with production declining thereafter.
Coal gasification
A process which converts solid coal into a gas that can be used for power generation.
Unconventional natural gas
Natural gas that is more difficult and therefore more expensive to extract than ‘conventional’ reserves.
Fast - breeder reactor
A nuclear reactor in which the chain reaction is maintained mainly by fast neutrons. It is capable of producing more fissionable material than it consumes.
Clean coal technology
Power plant processes that both increase the efficiency of coal burning and significantly reduce emissions.
Wind farm
A number of wind turbines grouped together at a particular location.
Microgeneration
Generations producing electricity with an output of less than 50KW.
Foreign direct investment
Overseas investment in physical capital by transnational corporations.