BP Energy Report OUT NOW

PackManBrainlure
PackManBrainlure

So the BP statistical review of energy is out today. Some points:

Upstream will not be abandoning new projects any time soon - BP may be an energy company, but their 1000+ wind turbines have turned little profit. Biofuels in Brazil are more promising.

Gas has overtaken coal in the US as the biggest energy source - with the switch to gas, CO2 output has not increased in 2015. The excess of gas is worrying - do not expect prices to rise anytime soon, although increased consumption in India, China may bump them a little.

Other urls found in this thread:

bp.com/content/dam/bp/pdf/energy-economics/statistical-review-2016/bp-statistical-review-of-world-energy-2016-full-report.pdf

Firespawn
Firespawn

Saudi Arabia's pledge to a post-oil future is contradicted by its' announcement yesterday to import gas while it’s cheap (avoiding huge production costs of domestic sour-gas).

Russia has been dropping its asking price for gas faster than anyone else to maintain market share.

Canadian and Russian proven reserves are very suspect and reports have been downplayed by BP economists.

The biggest variable in all reporting on energy and economics is that China's reported growth rate is unreliable.

China may have peaked in terms of coal use, either slowing consumption or switching to gas.

CouchChiller
CouchChiller

Renewables BTFO - even with a modelled growth rate bigger than any previous energy sector, renewables can only reach 8-10% market share in the coming decades.

While most questions were related to renewables, their penetration into producing societies is just too far away.

Growth of electric vehicles will require a simultaneous changeover in power generation - viable to go green in a hydro-centric place like Norway, but mostly a non-issue

BinaryMan
BinaryMan

While the US rig count increased last week for the first time in a while, oil rigs are just starting to move with $50 WTI. Note that improving technology will make shale/tight oil very prospective: increasing recovery rates from 5% to 10% doubles the recoverables.

Amazingly, only 3% of worldwide proven reserves are in acreages held by companies - peak oil is nowhere near.

Soft_member
Soft_member

Energy and airplanes are the biggest growth markets, I think us biz/ness wannabes need to take that into account

Spamalot
Spamalot

What? Nobody interested in the future of energy?

SomethingNew
SomethingNew

i am senpai

1k in voov, 1k in EVA, 500 in sdrl

iluvmen
iluvmen

BP

shit company. Don't care what their particularly biased report says.

BlogWobbles
BlogWobbles

sdrl good lottery ticket? Got few also. When divs start comming, it doesnt matter what the price is anyway.

Deadlyinx
Deadlyinx

Thats the plan, may even buy a few more now while theyre on sale

Deadlyinx
Deadlyinx

If you add the methane produced by natural gas to the CO2 produced, it is arguably worse than Coal for global warming.

haveahappyday
haveahappyday

Natural gas is methane. The goal is not to release any, but sell it. Plenty of methane released when mining coal, don't kid yourself. Coal is by far the dirtiest

Poker_Star
Poker_Star

If you add the methane produced by ur mum to the CO2 produced, it is arguably worse than Coal for global warming.

Sharpcharm
Sharpcharm

If you add Ur mum to Veeky Forums she'll be saged and that says a lot, these fucked would far to anything (else)

SniperWish
SniperWish

Welp this can go one of two ways.

iluvmen
iluvmen

that do you think of SO for a low beta pick?

StonedTime
StonedTime

Global warming is a hoax you millennial faggot

TechHater
TechHater

Abandon thread, holy shit this didn't work out well

Spamalot
Spamalot

so what... pour in more cash and wait for lift off?

Inmate
Inmate

What does this mean for fracking?

askme
askme

It is primarily methane.

Not 100% methane.

And some always gets lost into the atmosphere.

Source needed

Nojokur
Nojokur

Overall natural gas releases less greenhouse gases than coal for the amount of energy produced. Fuck.

RumChicken
RumChicken

Thanks for the heads up and interesting points OP.

Renewables BTFO
can only reach 8-10% market share in the coming decades

Yeah it's amazing how low renewables use is compared to the rhetoric around it

Renewables in power generation continued to grow robustly, to nearly 3% of global primary energy consumption,
bp.com/content/dam/bp/pdf/energy-economics/statistical-review-2016/bp-statistical-review-of-world-energy-2016-full-report.pdf

SniperGod
SniperGod

Maybe so, but too many retards point to CO2 like its the only greenhouse gas.

And that's with immense subsidies and tax breaks.

Renewables are actually killing natural gas, hydro, and nuclear while incentivizing more coal in America. Also in China and Europe.

Fried_Sushi
Fried_Sushi

Now you're being pedantic, fuck off

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