ECON366 Lecture 8: Global Energy Supply
12 May 2017
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Econ 366 lecture 8 global energy supply. Data analysis chart b: the international energy agency (iea, energy supply is production of primary energy commodities, energy consumption is final use of primary and secondary energy commodities. Factors of primary energy commodities: coal, oil, natural gas, nuclear, hydro, bio-fuels and waste, others. Data shows there was an increase trend of the oil from 4000 to 13000 from. 1971 to 2011 (mtoe: coal, nuclear and bio-fuels have increased over time, and increased the share as well, oil remained constant, the share of oil in primary energy is diminishing over time, natural gas becomes more important. 45 billion barrels to over 90 billion = 125 million barrels to over 250 million barrels" oil. Millions of barrels of oil per day= mbpd (common way to express energy) Question: what are drives of primary energy supply: population, the increase of the economy demand. Snap shot - 1973 and 2011 fuel shares of tpes chart c.
