Developing Economies Showing Improved Energy Efficiency

WSJ:

A few developments Monday suggest some of the world's most inefficient energy users are starting to tighten up how they use their energy resources, with important implications for keeping a brake on crude prices down the road.

Read the whole story: WSJ

Comments

[watchTVgetSTUPID]

Cap N Trade bill will shut down jobs here and create obs overseas. Note where 90% of the solar cells are made (overseas) http://en.wikipedia.org/wiki/First_Solar

Cap N Trade will impose a massive regressive tax on poor and middle class. Say good by to consumer spending on US goods an services.

[jsgaetano]

Conservatives spend all their time these days whining about how green power is going to "destroy the economy"... and once again history will show them as being on the wrong side of the issue (as always).

If humanity listened to conservatives, we would still be eating with our hands.

[alvdh1]

Last year we had a peak supply of 87,000,000 BOPD and demand of 86,500,000 BOPD. 87 percent the worlds production comes from 20 countries and 10 of those countries are in production decline.
Two key declining oil fields are of great concern. The Canterell oil field in the Gulf of Mexico is falling off a production cliff. In 2004, it was producing 2.2 MBPOD. In January 2009, production had declined to 778,000 BPOD and is forecast to decline to 700,000 BPOD by years end. The North Sea oil fields are dying too. Essentially, we will have to find or save oil equivalent to six new Saudi Arabia's by 2030 to offeset demand and oil field production declines.

India/China (Chindia) are the wild cards in this equation. Chindia will sell approximately 13,000,000 new cars and trucks this year and this number will continue to grow going forward. Population growth, 3 billion new people seeking a Western lifestyle and declining production of giant oil fields does not bode well for a new era of cheap energy. The world needs to brace itself for $200 oil by the end of 2011 as production is likely to never exceed 92 MMBOPD. However, demand will outpace supply through population growth and lifestyle increases alone in the very near future.