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Peaking of World Oil Production : Impacts, Mitigation & Risk Management

By: (Author) Robert L Hirsch , (Author) Robert Wendling , (Author) Roger Bezdek

Extended Catalogue

Ksh 12,600.00

Format: Paperback / Softback

ISBN-10: 1600210538

ISBN-13: 9781600210532

Publisher: Nova Science Publishers Inc

Imprint: Nova Science Publishers Inc

Country of Manufacture: US

Country of Publication: GB

Publication Date: Dec 1st, 2006

Print length: 106 Pages

Weight: 200 grams

Dimensions (height x width x thickness): 21.10 x 14.00 x 1.20 cms

Product Classification: Petroleum & oil industries

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The peaking of world oil production presents the U.S. and the world with an unprecedented risk management problem. As peaking is approached, liquid fuel prices and price volatility will increase dramatically, and without timely mitigation, the economic, social, and political costs will be unprecedented. Viable mitigation options exist on both the supply and demand sides, but to have substantial impact, they must be initiated more than a decade in advance of peaking. Dealing with world oil production peaking will be extremely complex, involve literally trillions of dollars and require many years of intense effort. To explore these complexities, three alternative mitigation scenarios are analysed: scenario I assumes that action is not initiated until peaking occurs; scenario II assumes that action is initiated 10 years before peaking; scenario III assumes action is initiated 20 years before peaking. For this analysis estimates of the possible contributions of each mitigation option were developed, based on an assumed crash program rate of implementation.

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