Fundamentals of Energy and Petroleum
From SDG Academy on 20 August, 2019
Carol Nakhle, CEO of Crystol Energy, discusses the various sources of energy (particularly contrasting renewable and non-renewable energies), how the amount of energy coming from the various sources has changed over time, and how it will change in the future. Among the changes over time to the so-called "primary energy mix" are the shift from biomass use pre-Industrial Revolution to the use of coal during the Industrial Revolution (and in modern times during countries' industrialization process). Currently, oil and gas provide 57 percent of the world's energy needs, or 85 percent when coal is included. Nakhle notes that fossil fuels have dominated the primary energy mix in recent years, and will likely do so for the next 30; by 2040, more than 37 percent of world energy sector investment will be in oil and gas. She also describes different ways that oil and gas prices are influenced, such as the growth in oil demand from non-OECD countries like China and India and the introduction of shale oil in North America.