[Peakoil] News Release from the UK's Energy Watch Group

[Jenny Goldie]

News Release from the UK's Energy Watch Group
 18th March 2013

The Energy Watch Group warns of the danger to UK and World energy supplies and calls for a faster development of renewable energy sources.

... in the two years since its last report:-

? Conventional oil production has started to decline and is expected to have dropped by 40% by 2030.

? The USA will not become a net oil exporter. Unconventional oil production (light tight oil) in the USA will peak in the next five years followed by a steep decline.

? European oil production is now below 3 million barrels a day, a 60% decline since the turn of the century.

? Shale gas in the USA will already reach its peak in 2015. Global gas prices will most likely increase and will not follow the current US trend.

? In Europe shale gas production will not be comparable to the US as geological, geographical and industrial conditions are less favourable.

? Gas production in Europe continues to decline and imports will need to increase by approx. 200 billion m3/yr to maintain the status quo.

? Domestic demand in Russia and Asia will increase pressure on gas availability for Europe in the coming years.

? As the quality of mined coal will gradually decrease world coal production is expected to peak within the next decade due to higher demand from China and India. Future world trade coal volumes will depend on production in Australia and Indonesia.

? Nuclear energy is not an option to substitute gas fired power plants as there is a high risk of a uranium supply gap for nuclear reactors before 2020. Most new uranium mining projects have been delayed while the production from old mines is in decline...

http://energywatchgroup.org/fileadmin/global/pdf/EWG-update2013_18_03_2013_press_release.pdf