Fossil Fuels Overview and Future Trends

Petroleum extracted from sources more difficult and costly than conventional oil, like deepwater, heavy/ultra-heavy oil, tar sands, and tight oil/gas shales.

The point in time when global oil production reaches its maximum rate and begins to decline.

A measure of how much energy is required to extract and process a unit of energy from a resource. A low EROI means more energy input is needed to produce the same output.

Oil and natural gas trapped in low-permeability rock formations, requiring specialized extraction methods.

A type of non-conventional oil derived from bitumen-saturated sandstone formations.

The theory that global oil production follows a bell-shaped curve, with peak production occurring when easy-to-extract oil is depleted, followed by a decline.

The period after peak oil production, where the depletion of easy-to-extract oil resources leads to increased reliance on more expensive and environmentally challenging sources.

The economic system based on continuous growth and reliance on cheap energy, particularly from fossil fuels.

Oil extracted from sources that are more difficult and expensive to access than conventional oil sources.

Natural gas trapped within shale rock formations.

The amount of energy produced from a source compared to the amount of energy needed to extract and process it.

A model describing the production of a non-renewable resource over time. It shows an initial phase of increasing production, followed by a peak, and ultimately a decline.

The process of extracting oil from sources like tar sands and shale rock, which are more challenging and resource-intensive than conventional oil extraction.

The increasing reliance on unconventional oil sources due to declining conventional oil production.

The reliance on perpetual growth in economic activity, which may be unsustainable in the context of finite resources.

The period when human population remained stable for thousands of years due to limitations in energy sources. People relied mainly on animal and human labor for energy.

The rapid increase in human population over the past three centuries, driven by the availability of more energy from fossil fuels.

The period when fossil fuels, especially coal, became the primary energy source, leading to significant technological advancements and societal shifts.

The ability of fossil fuels to power machines and tools, allowing a large part of the population to move away from agriculture towards other sectors like science, technology, arts, and culture.

The excessive use of fossil fuels leads to the overexploitation of natural resources and ecosystems at an unprecedented rate.

Fossil fuels have been instrumental in increasing agricultural productivity through mechanization, irrigation, and the use of pesticides and fertilizers.

The oil extracted before reaching peak oil is usually of higher quality, easier to extract, and cheaper to produce.

The decline in oil production quality as easier-to-extract reserves are depleted, resulting in higher extraction costs and lower energy yields.

The process of ensuring continued oil production, despite the declining rate of discovery, by investing in increasingly difficult-to-extract reserves. It involves securing the remaining resources as global demand continues to increase.

Saudi Arabia's inability to significantly increase production to counter rising oil prices in 2005-2008 and compensate for production losses in Libya in 2011. This suggests that their production capacity is limited by geological and technical factors rather than solely by the availability of resources.

Political and military instability in Iraq (war, invasions, sabotage) hindering its ability to fully exploit its potential oil production, which is estimated to be the third largest in the world. This creates significant challenges for increasing production despite sizable reserves.

The potential for significant oil production increases in Iraq, with projections suggesting a fourfold increase. However, achieving this requires substantial investment in modernizing infrastructure and achieving a more stable political and security environment.

A crucial factor impacting global oil supply and prices, involving both natural resource limits and challenging political and economic landscapes. This highlights the complexity and uncertainty of future oil production.

The continuous discovery of new oil deposits and exploration for untapped resources despite the already identified vast reserves. This highlights the dynamic nature of global oil production.

The period following the decline of the Cantarell oil field, characterized by the transition from easily accessible and affordable oil to more difficult and expensive sources.

A large oil field in Mexico that was once a primary source of oil production but has experienced a significant decline in output.

A series of new oil fields in the Southeastern region of Mexico that are expected to play a crucial role in replacing Cantarell's declining output.

The process of injecting nitrogen into an oil field to increase pressure and improve oil recovery.

Oil extracted from deep-water environments, often requiring sophisticated technology and high costs.

Oil that is extremely dense and viscous, making it difficult to extract and refine.

A measure of the amount of oil that can potentially be recovered from a field, often used to estimate the field's overall profitability.

The point at which an oil field reaches its maximum production rate and begins to decline.

Unconventional oil refers to oil sources that are more difficult and expensive to extract, such as oil sands and shale oil.

The rate of return on energy (EROEI) refers to the ratio of energy output to energy input. A high EROEI means more energy is produced than used in extraction.

Unconventional oil sources have a lower EROEI compared to conventional oil, meaning more energy is required to extract them.

Oil sands, also known as tar sands, are a type of unconventional oil resource. They are composed of bitumen, a thick viscous form of oil.

Oil sands are extracted through open-pit mining, where the sand is heated with steam and chemicals to separate the bitumen.

The extraction process of oil sands consumes vast amounts of water and can lead to significant environmental damage, including water contamination and landscape destruction.

The rise of unconventional oil production does not invalidate Hubbert's theory. Instead, it confirms his prediction that easily accessible, high-quality oil has become depleted, leading to an era of more difficult and expensive oil extraction.

The increase in global oil production has been driven by the development of unconventional oil sources. However, these sources are more costly and sustainable solutions are needed to meet future energy demands.