17.03.2013 Views

PEAK OIL

PEAK OIL

PEAK OIL

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

Figure 1: The Strategic Ellipse 6<br />

Figure 1 - Glossary<br />

1 bis 10 Gt 1 to 10 GT<br />

10 bis 20 Gt 10 to 20 GT<br />

Strategische Ellipse Strategic Ellipse<br />

Mit ca. 74% der konventionellen<br />

with approx. 74% of the world's conventional<br />

Welterdölreserven und ca. 70% der<br />

oil reserves and approx. 70% of the world’s<br />

Welterdgasreserven<br />

natural gas reserves<br />

Source: Federal Institute for Geosciences and Natural Resources (BGR)<br />

The precise global peak oil date is controversial and can only be determined with certainty in<br />

retrospect. 7 Available data on global oil reserves vary considerably and hardly provide any<br />

scope for outsiders to make an independent assessment. 8 The quality of statements about oil<br />

production and relevant conclusions for the occurrence of a global peak oil situation depends<br />

on several factors: The reserve levels officially specified by the Organization of the Petroleum<br />

Exporting Countries (OPEC), for example, can be disputed on the grounds of nontransparent<br />

data acquisition and partly politically motivated information. The higher an<br />

OPEC member declares its national reserve levels, the higher the production rate allotted by<br />

the OPEC and, in turn, the export profits. A further important factor when it comes to<br />

estimating reserves is the applied calculating method. In the past, predictions regarding the<br />

6 The Strategic Ellipse is an area that extends from the Middle East via the Caspian Region to the far north of Russia. This area encompasses approximately two thirds of<br />

the natural oil and gas deposits that are known globally and can currently be recovered at reasonable costs (reserve). This specifically concerns countries such as Saudi<br />

Arabia, Russia, Iran, the United Arab Emirates, Qatar, Iraq, Kuwait and Kazakhstan.<br />

7 The likelihood that peak oil was actually reached increases with every 12-month interval from the prevailing maximum production rate, whereby security policy<br />

implications could also arise much sooner owing to a physical oil shortage that could occur in the interim or due to psychological effects.<br />

8 "Reserves" refers to the total quantity of recoverable resources that have already been discovered but have not yet been recovered. For more detailed information, see<br />

Annex, Frequently Asked Questions #3.<br />

9

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!