How much easily recovered oil is really left? At what high-end prices are practices like directional drilling and 4D exploration financially feasible? At which low-end prices does renewable energy cease to become a financially feasible option?
It appears from the many news reports, opinion pieces, and general facts that easily recovered oil reserves are running out. There are new discoveries of relatively easy recovered oil, but the frequency of these ‘finds’ are few and far between. At 140 per barrel, projects like OCS deep sea drilling and Canadian oil sands are viable. The spike last summer where the price of a barrel of oil reached 140 dollars was, in essence, an indication of the volatility inherent in oil markets; couple that together with lower global reserves and international affairs with Russia, Iran, Venezuela, and Saudi Arabia…and you have the perfect ingredients for a rough investment ride.
Renewable Energy in the form of smart grids, batteries and energy storage, biofuels, EVs, geothermal, solar, wind, pollution control, waste, and water, all seem to be a natural substitution to the high-end instability of oil markets; but there seems to be a low-end price of oil that represents the point at which renewable energy markets reach a bottom. That point was in early 2009.
via Renewable Energy and the price of oil.
Related posts:
- Renewable energy brings modern-day gold rush – Environment – San Luis Obispo
- Devices emerge to handle the quirks of adding more renewable energy to the grid – NYTimes.com
- Beacon Power Awarded $2 Million to Support Deployment of Flywheel Plant in New York | Cleanergy.org – Renewable Energy & CleanTech – Solar, Geothermal, Biomass, Hydro, Wind
- The American Energy Act: Finally! An Energy Bill With Some REal Energy In It! | / | Energy & Environment
- Michigan, Iowa get Federal funds for energy efficiency, clean energy – International Business Times
