Читать книгу The Final Frontier: E&P's Low-Cost Operating Model - Pettit Justin - Страница 7

Notwithstanding tremendous advances in renewable energy, hybrids, and electric vehicles (EVs), and agreement among our world leaders to make great strides on behalf of climate change, oil and gas companies are, and will continue to be, an important contributor to the world's energy needs and to the world's economy. Most forecasts, even under aggressive growth trajectories for renewables, still call upon the upstream for one‐half or more of our energy in 20 years.1

In the United States, natural gas and petroleum have played an important role in our energy mix for more than 100 years.2 With the benefit of more than $1.5 trillion over the past 10 years, accounting for about one‐third of all new power generation capacity, renewables now represent a small but important source of energy (see Figure 1.1). Wind and solar provide 5 percent of all electricity consumed in the United States (nuclear power accounts for 63 percent of all non–carbon‐dioxide emitting power sources – the National Review estimates that it will take more than 100 years for solar to replace the electricity currently obtained from nuclear plants).3 Even with the tailwinds of government support at federal, state, and municipal levels, including regulations, tax credits, and direct subsidy, the US Energy Information Administration (EIA) expects “fossil fuels” will provide more than three‐quarters of US primary energy in 2040.

Figure 1.1 World Primary Energy, by Fuel (million tonnes oil equivalent)

Source: BP Energy Outlook 2035