Future of Oil Industry: energy prices, Middle East, global economy - Energy keynote speaker
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http://www.globalchange.com Future trends relating to energy prices and oil price per barrel. Impact on global economic growth of rising oil prices. Balance between oil production and oil consumption. Peak oil and proven global oil reserves -- why they are rising. Oil from coal -- future trends in coal industry. Petroleum based products and petrochemical industry -- growing demand for all kinds of commodities including steel, copper, oil, coal, gas, all part of the growth of emerging economies such as China, India, Indonesia, Brazil, Malaysia, South Korea, Singapore and so on. Impact on utility companies. Deep sea drilling, oilfields, engineering and environmental challenges including global warming / climate change. Impact of rising fuel costs on transport and transportation industry, aviation, rail travel, shipping, vehicle sales, car use, heating and air conditioning systems, building design and manufacturing. OPEC production quotas and their impact on global economic growth. Instability and revolution, impact of popular protests across Middle East oil producing nations. Government policy changes in Tunisia, Egypt, Libya, Yemen, Oman, Qatar, Kuwait, UAE, Saudi Arabia. Link between oil wealth and local unemployment. Inequalities of wealth and wealth distribution in future by governments keen to maintain political power. Impact of alternative energy production on oil consumption. Predictions for future energy costs. Video by conference keynote speaker Patrick Dixon, author of Sustainagility and Futurewise.
Comments
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The world’s largest reserves of oil are located in the Middle East. What impact has the location of this valuable resource had on global politics and the economy?
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Thanks - very interesting posts which many will enjoy reading. Do browse the 500 other videos I have created.... I am sure you will have things to say there too.... Patrick
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I couldn't agree more. I think the people need to hold them to account but in order to do so people need to have more power than Govt.; that is key, because what govt. will allow itself to be under the authority of the people if the people have no guns? As for the companies, they can be balanced by the free market, a market in which people choose which providers to use based not only on deliverables but the proven philosophy of that company.
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True that there are many agendas in government and business which is why the public need to hold both to account.
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@pjvdixon The problem is that america in the sense that we're referring to the govt. and the large corporations are not out to provide fair service to everyone. They prefer to leverage the resources they have to control and manipulate the general population. I think if we're being objective there will be no argument to that statement. Baring that in mind it seems an optimized approach for the individual to be self sufficient to the best extent possible.
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@DeepFriedFuzzball Yes Oil supplies do increase with higher prices....
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@chemicalsweet13 Well self-sufficiency in oil is a part of national security policy of America now...
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@pjvdixon I'm sure there are other reasons than oil too, like minerals(lithium), geopolitical etc... But the world is running out of oil and nations using more and more, control over this black resource became #1 importance. That's why all the wars are in the M-East lately. British moving oil platform around the Falkland for deep see drilling last year, just shows what the Falkland war was all about in the 80's.
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The best and I would argue ONLY effective way to mitigate exposure to risk associated with the very few entities controlling all these resources is to be self sufficient. Inasmuch as possible to have your own water source, animals/livestock, garden and to be responsible for your own personal waste management, defense, energy requirements and so on. This way YOU are in control of your sustenance as opposed to being dependent upon these energy companies.
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Looking forward to your comments on these important issues. And thanks to others too for your comments on my others videos which many tens of thousands will read with interest over the next months.... Do share your insights and thoughts - and remember to tell us which country you live in.... I read every comment and reply where I can...
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@DavidAKZ Indeed - good points. Thanks.
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@chemicalsweet13 Many share your despondency but I do see reasons to be optimistic if the whole world pulls together.
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@szaki Well oil is one reason - but I think there are others.... or have been - what do others think?
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@PrayerCall Thanks - will try and do a video on peak oil as you suggest. It is covered extensively in my book SustainAgility. Loads more on this on my main website which is globalchange
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Thanks for the great comments on future of energy and oil - a really interesting debate on important issues. And thanks to others too for your comments on my others videos which many tens of thousands will read with interest over the next months.... Do share your insights and thoughts - and remember to tell us which country you live in.... I read every comment and reply where I can...
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I admire you greatly and I think you're right. As far as oil supplies are concerned I don't think we have to worry as, like you said, rising prices due to speculation mean more difficult sources of oil become accessible, like in the oil sand of canada, 175 billion barrels are recoverable with current technology, but there are 2 trillion or more barrels of oil in place, untouched, as said by the chief of shell in canada, and these will become accessible as money is invested in new technology :]
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@petrocalypsenow Caspian region has over 200 billion proven oil reserve, all most as big as Saud-Arabia. That's why we have wars in Afghanistan today, to secure the pipeline that brings the oil out.
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I'm glad to see someone has such a bright view of our immediate future but i'm afraid i'm planning for the worst.
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Crude oil has peaked already - in 2006. Read the latest forecast by the International Energy Agency (IEA): “Crude oil output reaches an undulating plateau of around 68-69 million barrels per day, by 2020, but never regains its all-time peak of 70 million barrels per day reached in 2006.”
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Hi Patrick. Could you balance the 'supply and demand' argument with speculation in futures commodities markets using so called 'hot' money courtesy of the Federal Reserve of the United States - otherwise known as Quantitative Easing ? You make only a passing reference to the so called Global Financial Crisis where oil went to $165 / barrel. Can you say that was driven by 'supply and demand'?
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