Skilling Up For Powerdown. The Petroleum Interval The Energy Slaves. Where oil is and where it is not N.W Europe Oil Generating Zones Where is it? Regular Oil Where Does It Go? Whats so great about oil? Incredibly energy dense. Incredibly energy dense. One gallon of oil (3.2kg) produces energy equivalent to: One gallon of oil (3.2kg) produces energy equivalent to: 5kg of coal 10kg of wood 50 people toiling all day Stable at room temperature Stable at room temperature Easily stored and transported Easily stored and transported Low cost of extraction (initially) Low cost of extraction (initially) Versatile. Versatile. Abundant. Abundant. Whats so great about oil? pop US-48 Oil Discovery Peaked in 1930, Production in 1970 Peak to Peak - 40 years Peak Discovery The North Sea Peak to Peak - 27 years Russia Peak to Peak ~ 40 years Fall of Soviets Ir Discovery peaked 40 years ago Past discovery by ExxonMobil Past after Exxon-Mobil 3yr moving average Production peaks follow discovery. ( You have to find it before you can produce it). Exaggerated OPEC Oil Reserves Source: BP Statistical Review of World Energy. Average Daily production from OPEC countries Source EIA No Spare Saudi Capacity Source - EIA World Production Stopped Increasing in late Source - IEA. Existing Production in Decline Source: BP Statistical Review of World Energy.BP Statistical Review of World Energy Exxon Mobil 4 New Saudi Arabias! Peak Gas? UK Energy Review 2006 Gas prices When? Heat waves and periods of unusually warm weather Ocean warming, sea-level rise and coastal flooding Glaciers melting Arctic and Antarctic warming