When oil is no longer in demand _ the economist

Oil companies, for their part, will have to explore new lines of business. Electricity kwh cost uk The North Sea provides a glimpse of some of the opportunities that lie ahead. Electricity transmission vs distribution Near Aberdeen, firms such as Royal Dutch Shell are decommissioning parts of the spectacular network of rigs and pipelines installed in the 1970s. Orlando electricity providers Andrew McCallum, an adviser to Britain’s regulator, the Oil and Gas Authority, says oil companies could deploy their decommissioning skills on projects around the world.

Statoil, the Norwegian state oil company, has set an example of what oil companies might do in future. Electricity jewels Earlier this year it acquired a lease to build the world’s largest floating wind farm 15 miles off the coast of Peterhead, north of Aberdeen. Electricity vs gas heating costs Each of its five 6MW turbines will be tethered to the seabed on a floating steel base, enabling it to operate in deeper water than a conventional turbine embedded into the sea floor. Gas city indiana car show That will give it access to stronger winds farther offshore, making it cheaper to produce electricity.

Back in Norway, Statoil also operates two projects to store carbon dioxide under water, in some of the most advanced examples of a technology seen as key to removing greenhouse gases from the atmosphere: carbon capture and storage (CCS). Electricity billy elliot karaoke This is costly and still in its infancy, and governments have supported it only erratically. Gas hydrates wiki In 2015 a mere 28m tonnes of CO 2 was stored that way. Gas meter car To help meet the 2ºC limit, the IEA says the world needs to store a whopping 4bn tonnes a year by 2040.

Biofuels are another way to diversify. K electric company duplicate bill At the North Sea port of Rotterdam, Neste, a Finnish refiner, ships in waste fats from the world’s slaughterhouses and converts them into biodiesel for the haulage and aviation industry. Gas jeans usa It costs more than regular diesel, but under EU rules member countries’ fuel mix must include 10% biofuels by 2020. Harry mileaf electricity 1 7 pdf Neste’s boss, Matti Lievonen, recalls that in 2012 nine-tenths of his company’s operating profit came from refining fossil fuels, whereas now renewables account for 40%.

Not all oil companies want to be innovators. E sampark electricity bill payment Many plan to develop more gas, but also insist that the world’s demand for oil as feedstock for petrochemicals will keep them in business even if demand from cars wanes. Electricity grid uk The IEA predicts that petrochemicals will raise demand for oil by almost 6m b/d in the next 25 years. Gas stoichiometry calculator Oil companies are putting pressure on governments to impose carbon taxes, believing them to be the best way to kill off coal and boost natural gas, at least until renewable energy and batteries have come of age. Electricity invented in homes So far governments have shown remarkably little appetite for such taxes. Electricity production in the us The IEA calculated that carbon markets covered only 11% of global energy-related emissions in 2014. Electricity news philippines In contrast, 13% of emissions were linked to fossil-fuel use supported by consumption subsidies.

Transport fuels are more widely taxed, but at vastly different rates, ranging from high in Europe to low in America and China. Hp gas online registration Experts say that in America it is easier to regulate fuel consumption via vehicle-efficiency standards, which consumers notice much less than fuel taxes.

The crucial, and underappreciated, players in the future of oil are consumers. Gas and water llc Their choices, at least as much as those of producers and governments, will determine its ultimate fate, because oil fuels the industries that make goods for them, the trucks that deliver those goods, the cars they drive and the plastic objects that clutter their homes.

This special report started by recalling how the horse was displaced by the car. Electricity quiz for grade 5 Urban planners failed to find ways to reduce the horse-manure problem. Hp electricity bill payment online Governments paved roads, put up traffic signs and introduced legislation that allowed the motor car to establish itself. Electricity generation in usa Yet it was the allure of the Model T for millions of consumers that finally drove the horse off the road.

Similarly, oil companies may turn their attention to alternative fuels, governments may tinker with fuel taxes and congestion charges, battery costs may come down with a bump and the electricity grid may be converted to run on sun and wind. Electricity word search j farkas answers But none of these developments alone will end the oil era. Gas efficient cars 2012 Only when entrepreneurs can capture the public’s imagination with new vehicles that transform the whole travel experience, rather than just change the fuel, will the petrol engine run out of road.

This could happen with electric self-driving cars, which may eventually become not just four-wheeled travel pods but mobile offices, hotels and entertainment centres, running noiselessly through city streets day and night. Youtube gas station karaoke Or it could be some other futuristic innovation. Gasco abu dhabi careers A new play in London, “Oil”, predicts that the hydrocarbon age will end with the Chinese mining helium-3 on the Moon to fuel nuclear-powered cars and homes on Earth. Electricity voltage in canada Whatever your particular fantasy, there are bound to be more oil wars and oil shocks. Gas 78 facebook But it will be when the internal-combustion engine eventually loses its remarkable grip on the world’s roads that the age of oil will come to a screeching halt.