Uncertainty about future demand Flashcards
0
Q
Peak oil
A
The year which the world or an individual oil producing country reaches the highest level of production, with production declining there after.
1
Q
Why is there uncertainty about future global energy demand and supply?
A
Unsure whether we will discover new sources or whether we will develop technology which would allow us to access energy sources in unacceptable places.
New technology which could be used for renewables.
Future international agreements.
Don’t know the rate at which countries will develop and can’t accurately predict population growth.
2
Q
Why is predicting peak oil difficult?
A
During the 80s OPEC countries exaggerated when competing for quota based on reported reserves. - not a lot of valid data.
