Natural disasters - ENERGY Flashcards
IMPACTS OF DISRUPTION - Natural Disasters
Hurricane Katrina
- At least 1,836 people died in the actual hurricane and in the subsequent floods and total property damage was estimated at $81 billion.
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Description of locations affected - Natural Disasters
Hurricane Katrina making landfall in New Orleans, Louisiana. According to the U.S. Dept. of Housing and Urban Development, in St. Bernard Parish, 81% (20,229) of the housing units were damaged. In St. Tammany Parish, 70% (48,792) were damaged and in Plaquemines Parish 80% (7,212) were damaged.
IMPACTS OF DISRUPTION - Exhaustion of supply/reaching peak production
A rise in oil prices could severely impact the cost of food, heating, and electricity globally. A recent example of this has been seen since Russia’s Invasion of Ukraine since 2022; a global spike in oil and energy prices caused an energy crisis in the EU during 2022.
Description of locations affected - Exhaustion of supply/reaching peak production
Supply
31% Middle East
20% North America
12% Russia
Demand
34% Asia (12% China)
24% North America
20% Europe (4% Russia)
There is a large mismatch between supply and demand because oil is essential for transport. Petrol/diesel is the main energy source for cars, rail, ships and aircraft.)
Gas
Supply
18% North America
15% Middle East
13% Russia
Demand
27% North America (22% USA)
16% Asia
11% Russia
10% Middle East
Supply and demand match fairly well because gas is more widely distributed than oil. Asia is the main area of mismatch.
IMPACTS OF DISRUPTION - Piracy and terrorism
Description of locations affected - Piracy and terrorism
IMPACTS OF DISRUPTION - Increase in price
Description of locations affected - Increase in price
IMPACTS OF DISRUPTION - Increasing demand from developing nations
Description of locations affected - Increasing demand from developing nations
