This first of two volumes of collected papers and essays charts the sequence of significant developments over the past 40 years of the most international of industries—that of gas and oil. Explained are the physical attributes of oil and gas resources, reserves, and supply in their economic and political settings, with an emphasis on the quantities. This book also explores the economic and political inputs to the global oil and gas industry’s organization and markets since the early 1960s and the consequences of a loss of control, not only for the industry itself, but also for the western world’s economy and its political stability.
National Oil Companies (NOCs) directly or indirectly control the majority of oil and gas reserves. As such, they are of great consequence to their country's economy, to importing countries' energy security, and to the stability of oil and gas markets. The paper analyzes the available evidence on the objectives, governance and performance of 20 NOCs from both net importing and net exporting countries, and draws conclusions about the design of policies and measures that are more likely to lead to social value creation. NOCs differ from private companies on a number of very important variables, including the level of competition in the market in which they operate, their business profile along the sector value chain, and their degree of commercial orientation and internationalization. Most share some core characteristics: they are usually tied to the 'national purpose' and serve political and economic goals other than maximizing the firm's profits. This paper introduces a conceptual model to analyze value creation by NOCs that takes into consideration their complex objective function. Our analysis aims to answer the following questions: Are certain corporate governance arrangements more suited than others to promote value creation? Is good geology a pre-condition for NOC value creation? Are there benefits from exposing the NOC to competition from private oil companies? Does the development of forward and backward linkages hamper NOC value creation?
This book provides an overview of the dynamic issues of energy policy, development, and economics. It illuminates the factors influencing the energy policies of key energy producing/consuming nations around the world and examines current trends in energy development, planning, technology, and trade.
Energy use is one of the key issues of our time. People have traditionally relied on fossil fuels, including oil, coal, and natural gas. There are growing concerns, though, about the pollution caused by these energy resources. In addition, these sources of energy are nonrenewable. That is, they can be used up. Countries around the world are exploring ways to use renewable sources of energy, such as solar power. Energy Resources examines the role of traditional sources of energy and the development of alternative energy resources.
Over roughly the past decade, oil and gas production in the United States has surged dramatically—thanks largely to technological advances such as high-volume hydraulic fracturing, more commonly known as “fracking.” This rapid increase has generated widespread debate, with proponents touting economic and energy-security benefits and opponents highlighting the environmental and social risks of increased oil and gas production. Despite the heated debate, neither side has a monopoly on the facts. In this book, Daniel Raimi gives a balanced and accessible view of oil and gas development, clearly and thoroughly explaining the key issues surrounding the shale revolution. The Fracking Debate directly addresses the most common questions and concerns associated with fracking: What is fracking? Does fracking pollute the water supply? Will fracking make the United States energy independent? Does fracking cause earthquakes? How is fracking regulated? Is fracking good for the economy? Coupling a deep understanding of the scholarly research with lessons from his travels to every major U.S. oil- and gas-producing region, Raimi highlights stories of the people and communities affected by the shale revolution, for better and for worse. The Fracking Debate provides the evidence and context that have so frequently been missing from the national discussion of the future of oil and gas production, offering readers the tools to make sense of this critical issue.
From the discovery of fire to that of the atom, the development of human societies has largely been based on the conquest of energy. In all countries, energy has gradually become one of the key factors of social and economic development, as well as capital, labor and natural resources, and now no one can do without it. After decades of cheap energy flowing without any problem, over the last forty years crises have become the rule. This disruption of the energy landscape is of particular concern as the impact of energy crises on human societies became considerable. This book seeks to provide a basis for reflection on all global energy problems, offering an analysis of the main aspects to consider: energy supply, resource-dependent industries and technology available, macroeconomic implications of energy demand, geopolitical issues, and specifics of the situation in developing countries. It does not thoroughly address environmental issues, which would require further study beyond the limits we set. This book is the second edition of a book published in 1992, at a time when obtaining energy and economic data was much more difficult than today, when many databases are freely accessible on the Internet. In this new context, we hope it will assist the reader in finding his/her way in the considerable amount of information available. Energy is a vast field that can be approached from multiple angles. The approach proposed here is to start by providing the reader with technical bases on energy, and thus energy supply, before considering the demand, that is to say, the socio- and macro-economic dimensions, then addressing global issues relating to energy, and finally complete the study of the main issues that arise in this area today. This book summarizes the main issues related to energy and requires no special knowledge beforehand, whether in economics, engineering or international relations. It consists of nine chapters, the first being the introduction. Chapter 2 introduces the main energy sectors (oil, natural gas, coal, synthetic hydrocarbons, nuclear power, renewable energy, thermal or pneumatic storage), i.e. how the main sources of energy can be exploited. Chapter 3 presents the main macroeconomic and energy indicators that are commonly used to assess the energy situation in a country. Concepts that are introduced being then used consistently in other chapters, it is essential to understand well their definitions and limitations. The fourth chapter analyzes the impacts of energy at the macro level, including the links between economic activity and energy consumption. The fifth chapter introduces the main principles generally accepted in the development of energy policy and planning, and then discusses the institutional aspects. The sixth chapter is devoted to geopolitics: current consumption of energy, energy reserves and resources worldwide, international energy trade, and specific problems faced by developing countries. The seventh chapter is devoted to the study of the energy situation in eleven different countries, showing the contrast between them, depending on their level of economic development, demography, natural resource endowments, etc. The list of countries includes high-income developed countries (France, United States, United Kingdom), the emerging group called the BRICS (Brazil, Russia, India, China, South Africa), a North African oil exporting country (Algeria), a west African country (Côte d'Ivoire), and an Asian exporter of coal and natural gas (Indonesia). The eighth chapter discusses emerging issues related to energy, in particular its relationship to the environment and the success of policies aiming at controlling demand. The ninth and final chapter begins with a prospective study of various scenarios for the medium and long term. The analyses presented in the book are then summarized by outlining the main pending issues. The book includes 22 tables, 150 figures and 3 mind maps, as well as links to databases available online (World Bank, United Nations, BP). Also available: an online course covering the main topics dealt with in this book. Please visit: http://www.thermoptim.org/sections/enseignement/cours-en-ligne/modules-d-auto-formation/energy-issues-course
Oil and gas still power the bulk of our world, from automobiles and the power plants that supply electricity to our homes and businesses, to jet fuel, plastics, and many other products that enrich our lives. With the relatively recent development of hydraulic fracturing ("fracking"), multilateral, directional, and underbalanced drilling, and enhanced oil recovery, oil and gas production is more important and efficient than ever before. Along with these advancements, as with any new engineering process or technology, come challenges, many of them environmental. More than just a text that outlines the environmental challenges of oil and gas production that have always been there, such as gas migration and corrosion, this groundbreaking new volume takes on the most up-to-date processes and technologies involved in this field. Filled with dozens of case studies and examples, the authors, two of the most well-known and respected petroleum engineers in the world, have outlined all of the major environmental aspects of oil and gas production and how to navigate them, achieving a more efficient, effective, and profitable operation. This groundbreaking volume is a must-have for any petroleum engineer working in the field, and for students and faculty in petroleum engineering departments worldwide.
The Political Ecology of Oil and Gas Activities in the Nigerian Aquatic Ecosystem reviews the current status of the ecosystems and economic implications of oil and gas development in Nigeria, a key oil-producing state. The ecological and economic impacts of oil and gas development, particularly in developing nations, are crucial topics for ecologists, natural resource professionals and pollution researchers to understand. This book takes an integrative approach to these problems through the lens of one of the key oil-producing nations, linking natural and human systems through the valuation of ecosystem services. Provides background information on Nigerian aquatic environments, its local history of oil exploration and a review of the physical chemistry of crude oil Reviews global and national perspectives on the oil and gas industry from a physical ecological, to a socio-political and economic ecological perspective Demonstrates real-life situations of the interactions and impacts of Nigerian petroleum production on the environment and local populations through case studies
