Overview
- Integrates science-based resource analysis with financial and economic realities
- Presents the basic financial analysis of an oil prospect
- Examines "peak oil" to tell you what’s correct and what isn‘t
- Discusses the role of oil in the energy market of the future and the dilemma facing "big oil"
- Includes supplementary material: sn.pub/extras
Part of the book series: SpringerBriefs in Energy (BRIEFSENERGY)
Part of the book sub series: Energy Analysis (ENERGYANALYS)
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Table of contents (9 chapters)
Keywords
About this book
>Development scenarios and political pressure for growth as a means of solving economic woes both require more net energy, which is the amount of energy available after energy (and thus financial) inputs required for new sources to come on line are deducted. In today’s economy, more energy usually means more oil. Although a barrel of oil from any source may look the same, “tight oil” and oil from tar sands require much higher prices to be profitable for the producer; these expensive sources have very different economic implications from the conventional oil supplies that underpinned economic growth for most of the 20th century. The role of oil in the global economy is not easily changed. Since currently installed infrastructure assumes oil, a change implies more than just substitution of an energy source. The speed with which such basic structural changes can be made is also constrained, and ultimately themselves dependent on fossil fuel inputs. It remains unclear how this scenario will evolve, and that uncertainty adds additional economic pressure to the investment decisions that must be made. “Drill baby drill” and new pipeline projects may be attractive politically, but projections of economic and associated oil production growth based on past performance are clearly untenable.
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Bibliographic Information
Book Title: The Economics of Oil
Book Subtitle: A Primer Including Geology, Energy, Economics, Politics
Authors: S.W. Carmalt
Series Title: SpringerBriefs in Energy
DOI: https://doi.org/10.1007/978-3-319-47819-7
Publisher: Springer Cham
eBook Packages: Energy, Energy (R0)
Copyright Information: The Author(s) 2017
Softcover ISBN: 978-3-319-47817-3Published: 30 December 2016
eBook ISBN: 978-3-319-47819-7Published: 26 December 2016
Series ISSN: 2191-5520
Series E-ISSN: 2191-5539
Edition Number: 1
Number of Pages: VIII, 118
Number of Illustrations: 4 b/w illustrations, 19 illustrations in colour
Topics: Energy Policy, Economics and Management, Economic Growth, Energy Policy, Economics and Management