A recent attack on the computer system of Saudi Arabia’s state-owned oil company, Saudi Aramco, by Iranian computer hackers was alarming and should have Americans taking note. Aramco is the producer of 11 million barrels per day, or approximately 13% of the world’s oil output. This resonates with Sustainable America’s mission to reduce U.S. oil dependency. Gray Peckham, an analyst at Sustainable America, explains.
Tag: world oil production
Puts a Scare Into Oil Watchers, and Us Too
Yet another sign of the dangers of complacency
Hurricane Sandy has important lessons to teach us about our fuel supply, if we choose to listen. For one, shale oil notwithstanding, the U.S. is more reliant on imported oil now than it was at the time of the Iranian Revolution in 1979. 13D Research provides analysis.
and the volatile nature of global oil markets
It’s important to understand that increasing domestic oil production in America will not necessarily lower prices at the pump… Instead we should focus energy on alternatives to crude oil like natural gas, advanced biofuels and electric vehicles in addition to energy efficiency measures.
British scientists have successfully produced just over a gallon of gasoline using carbon dioxide from the air and hydrogen from water. Air Fuel Synthesis, the company behind the process, hopes that within two years it will build a larger, commercial-scale plant capable of producing a ton of petrol a day. The global energy implications of literally extracting carbon dioxide from the air to make gasoline are considerable.
A Report From Cornerstone Analytics
A highly respected research provider, Cornerstone Analytics has allowed us to republish a preview of their 2013 Global Oil Capacity Forecast, originally published August 23, 2012. The outlook is not good for global oil balance, which likely means even higher oil prices, and bouts of global economic malaise. Some of the numbers here are pretty shocking.
In light of the G20 Summit in Mexico this summer, Sustainable America took a look at what has changed since 2002, when this group of finance ministers and central bank governors from 20 major economies pledged to “substantially increase” the use of renewable energy.
Global Crude-Only Production Has Been Flat For Seven Years.
At Sustainable America we find this article from 13D Research interesting and on point. We believe it helps highlight the vulnerabilities of our economy to global oil supply, and the need for reducing our reliance on oil for transportation uses.