Series 3, Issue 9
The week of May 6, 2019
New Frontiers in Fossil-Tech
The week of May 6, 2019
New Frontiers in Fossil-Tech
Executive Summary
and
A Compendium of Anecdotal Responses
Published especially for Members of the American Energy Society
and
A Compendium of Anecdotal Responses
Published especially for Members of the American Energy Society
It seems the world has gone tech-crazy, believing that every challenge has a technological solution. FinTech. AgTech. HealthTech. WaterTech. And, of course, CleanTech.
What about Fossil-Tech?
Whether you love or hate the sector, it’s clear that the world has an insatiable demand for more energy, and the fossil-fuels (oil, gas, coal) provide an energy density that satisfies this demand:
Oil
Gas
Coal
The fossil fuels sector is massive and it is constantly innovating just like CleanTech. Powerful new technologies have upgraded or overtaken old processes, improved efficiencies, and created new opportunities barely imaginable a few decades ago.
To better understand the next-generation of Fossil-Tech, the American Energy Society conducted a comprehensive survey of experts and Members. This issue of Energy Today provides an Executive Summary of that survey as well as a compendium of anecdotal responses. A detailed survey report is forthcoming.
What about Fossil-Tech?
Whether you love or hate the sector, it’s clear that the world has an insatiable demand for more energy, and the fossil-fuels (oil, gas, coal) provide an energy density that satisfies this demand:
Oil
- Worldwide oil consumption increased by 600 million barrels last year.
- Americans bought about 360,000 electric vehicles, an 80% increase over 2017, and the most in history. But US consumers bought more than 17,000,000 new gas and diesel vehicles, also the most in history.
- Meanwhile, global consumers purchased almost 80 million new petroleum-powered vehicles last year, compared to one million electric vehicles.
Gas
- Gas production and consumption in the US was at a record level in 2017 (about 82 billion cubic feet per day), and then that record was surpassed by 12% in 2018. And that record will probably be shattered again in 2019.
- Global demand for natural gas is forecast to increase an average of 2% each and every year for the next 20 years.
Coal
- Coal still provides about one-third of all electricity in the US.
- There are an estimated 1.1 trillion tons of proven coal reserves worldwide, which is enough to last around 150 years at current rates of production.
The fossil fuels sector is massive and it is constantly innovating just like CleanTech. Powerful new technologies have upgraded or overtaken old processes, improved efficiencies, and created new opportunities barely imaginable a few decades ago.
To better understand the next-generation of Fossil-Tech, the American Energy Society conducted a comprehensive survey of experts and Members. This issue of Energy Today provides an Executive Summary of that survey as well as a compendium of anecdotal responses. A detailed survey report is forthcoming.
News from the Society
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The Editors of Energy Today welcome submissions of original articles for publication consideration. Please contact the editorial staff by email with questions or attach the proposed article as a Word document.
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