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Energy Industry Optimism Abounds at CERAWeek 2012
http://www.energydigital.com/oil_gas/energy-industry-optimism-abounds-at-ceraweek-2012CERA’s pre-conference symposium focused on studies by two Federally-appointed task forces, the National Petroleum Council (NPC) and the U.S. Shale Gas Advisory Board. The NPC’s study, “Prudent Development: Realizing the Potential of North America’s Abundant Natural Gas and Oil Reserves” had four main findings:
The potential of North America’s natural gas reserves is much, much larger than was previously thought.
North America’s oil reserves are also growing very quickly.
America cannot meet its projected 2035 energy needs without a continued, very strong emphasis on fossil fuels. In 2035 sustainable resources like wind and solar power, will only contribute 17 percent towards America’s energy supply whereas oil, natural gas and coal collectively will meet 78 percent of our energy needs.
The potential of North America’s natural gas reserves is much, much larger than was previously thought.
North America’s oil reserves are also growing very quickly.
America cannot meet its projected 2035 energy needs without a continued, very strong emphasis on fossil fuels. In 2035 sustainable resources like wind and solar power, will only contribute 17 percent towards America’s energy supply whereas oil, natural gas and coal collectively will meet 78 percent of our energy needs.
They're excited about the possibility of producing 1+ TRILLION barrels of oil from shale and tar sands over the next century. In related news, we're fucking toast (literally) when that carbon hits the atmosphere.
