Amid boom in unconventional oil and gas, Resources to Reserves 2013 sees adequate supply but also challenges to viable and sustainable recovery
6 June 2013
Known hydrocarbon resources are sufficient to sustain economic growth for the foreseeable future, but developing those resources – and bringing them to market – is ever more technically challenging.
The new IEA book Resources to Reserves 2013 investigates whether oil and gas resources can be produced at a reasonable cost and in a timely manner, surveying the cutting-edge technologies needed to find, produce and bring them to the market while protecting environmentally sensitive areas. It also analyses the challenges of greenhouse gas emissions associated with fossil fuel production. And it considers technological advances for coal, especially as a potential source of liquid and gaseous fuels, as well as the demands on coal production, where the most attractive reserves may already have been exploited.
Fossil fuels currently meet 80% of global energy demand. Even if countries made good on all current policy commitments to tackle climate change and other energy-related challenges, global energy demand in 2035 is projected to rise by 40% – with fossil fuels still contributing 75%. Building on the findings in the 2005 edition of Resources to Reserves, the new book updates the known hydrocarbon reserves and resources to demonstrate the world’s potential supply, boosted since 2005 by a seven-fold increase in shale gas production in the United States and an even more startling rise in light tight oil – both largely due to advances in technology:
With adequate resources of fossil fuels to meet the increasing energy demand, Resources to Reserves 2013 shows that the emphasis now is on the technology, prices and policies that can ensure resources are developed into proven reserves in financially viable and environmentally sustainable ways.
To read the Executive Summary of Resources to Reserves 2013, please click here.
To download a webinar presentation about Resources to Reserves 2013, please click here .
To view the Table of Contents (detailed in the webinar presentation), please click here.
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