Every new tech is available but it is the cost that would always matter. If storage of electricity is expensive none would do it.
Remember, if you can store electricity, expensive desalination process could already have been closed. Same is the case with the hydro electricity, that you have to generate and regenerate, because not a single country is able to store the electricity to light up the cities and countries.
Aside, new solutions may come up via research and knowledge, but for QL Bloggers it is important to trade positivity like "brite", no matter who may come up with a diverse and differing opinion.
Equinox is also wrong about storage of electricity. There are already numerous storage technologies available, such as compressed air, liquefied air, fly wheels, hydrogen fuel cells, and superconducting magnetic storage, besides the well know batteries of all kinds. And in the end, the sun is always there, at least for another 4 billion years.
Equin0x, have you heard of Tesla cars being used in US, Europe and Asia. You are right, these cars are not meant for long cross state drives, but for small cities they are scooping the market share. For your information on 20 mins charge the Tesla cars can run for 3 to 5 days, that's today's technology, Imagine what it will be in 50 years....oil...petrol really..???
There seem to be lots of prophets on QL being able to foresee the future of the world energy consumption. If you are so clever you should actually be presidents of your countries to set things right. It's a shame that you aren't.
The oil surplus have been used in overseas long term investments, as per diversification plan.
Electricity cannot be stores for many hours and days, which is why you have to have electricity production in continuity via hydro dams, coal and gas etc.
BTW, who draw that graph...it looked like someone used crayons...Also it has been in the news that government in the world power house has been advising and pushing major car companies to shift their focus to electric cars by 2050. Who says that demand for oil will continue to peak? more cars are coming out as electric to sway away from their dependence in oil. Even at QMS they were featuring electric cars...yes here in GULF!!! Think people...look ahead for the next 10 years, it will be an interesting development I tell you all!
I heard Mexico and Canada is selling oil below 20, OPEC guys are settled on 27? There is competition in the market...I don't foresee oil going back to 40 to 50 levels by 2017. Current levels are healthy for the global economy and the major powers. Low prices of oil is help America, Europe, Asia to come back from the hit of the financial crisis. Its only the oil producing countries that will be effected for now. But these oil producing countries should have had fiscal reserves for the next 10 years, from the proceed of the oil sales for decades. What happened to all that money? That is the question!
The oil price has already touched the bottom at $ 27/b, in January 2016. Since then it has been rebounding and expected to climb back to a tag price of $ 40/b, which would help remove the dent on Qatar's economy, for sure.
The oil price between $ 40 and $ 50 per barrel has the genuine potential to benefit equally the buyers and seller countries.
Crude oil prices will remain relatively low through 2016 and 2017
The Short-Term Energy Outlook (STEO) released on January 12 forecasts that Brent crude oil prices will average $40 per barrel (b) in 2016 and $50/b in 2017. This is the first STEO to include forecasts for 2017. Forecast West Texas Intermediate (WTI) crude oil prices average $2/b lower than Brent in 2016 and $3/b lower in 2017. However, the current values of futures and options contracts continue to suggest high uncertainty in the price outlook (Figure 1). For example, EIA's forecast for the average WTI price in April 2016 of $37/b should be considered in the context of recent contract values for April 2016 delivery (Market Prices and Uncertainty Report), suggesting that the market expects WTI prices to range from $25/b to $56/b (at the 95% confidence interval).
Qatar's winter months are brimming with unmissable experiences, from the AFC Asian Cup 2023 to the World Aquatics Championships Doha 2024 and a variety of outdoor adventures and cultural delights.
Fasten your seatbelts and get ready for a sweet escape into the world of budget-friendly Mango Sticky Rice that's sure to satisfy both your cravings and your budget!
Celebrate World Vegan Day with our list of vegan food outlets offering an array of delectable options, spanning from colorful salads to savory shawarma and indulgent desserts.
Every new tech is available but it is the cost that would always matter. If storage of electricity is expensive none would do it.
Remember, if you can store electricity, expensive desalination process could already have been closed. Same is the case with the hydro electricity, that you have to generate and regenerate, because not a single country is able to store the electricity to light up the cities and countries.
Aside, new solutions may come up via research and knowledge, but for QL Bloggers it is important to trade positivity like "brite", no matter who may come up with a diverse and differing opinion.
WT - Thumbs Up!
Equinox is also wrong about storage of electricity. There are already numerous storage technologies available, such as compressed air, liquefied air, fly wheels, hydrogen fuel cells, and superconducting magnetic storage, besides the well know batteries of all kinds. And in the end, the sun is always there, at least for another 4 billion years.
@Equin0x, this is for your info and the brighter future ahead. https://en.wikipedia.org/wiki/Tesla_Model_S
Equin0x, have you heard of Tesla cars being used in US, Europe and Asia. You are right, these cars are not meant for long cross state drives, but for small cities they are scooping the market share. For your information on 20 mins charge the Tesla cars can run for 3 to 5 days, that's today's technology, Imagine what it will be in 50 years....oil...petrol really..???
Stupid posts deserve stupid comments.
WT, i never expect such sort of negativity, how would you forge happiness in your life with such level of negativity.
We are bloggers, to which some may agree and some may not, without any offense. Have the patience and courage to opine with intelligent reasoning.
There seem to be lots of prophets on QL being able to foresee the future of the world energy consumption. If you are so clever you should actually be presidents of your countries to set things right. It's a shame that you aren't.
The oil surplus have been used in overseas long term investments, as per diversification plan.
Electricity cannot be stores for many hours and days, which is why you have to have electricity production in continuity via hydro dams, coal and gas etc.
BTW, who draw that graph...it looked like someone used crayons...Also it has been in the news that government in the world power house has been advising and pushing major car companies to shift their focus to electric cars by 2050. Who says that demand for oil will continue to peak? more cars are coming out as electric to sway away from their dependence in oil. Even at QMS they were featuring electric cars...yes here in GULF!!! Think people...look ahead for the next 10 years, it will be an interesting development I tell you all!
I heard Mexico and Canada is selling oil below 20, OPEC guys are settled on 27? There is competition in the market...I don't foresee oil going back to 40 to 50 levels by 2017. Current levels are healthy for the global economy and the major powers. Low prices of oil is help America, Europe, Asia to come back from the hit of the financial crisis. Its only the oil producing countries that will be effected for now. But these oil producing countries should have had fiscal reserves for the next 10 years, from the proceed of the oil sales for decades. What happened to all that money? That is the question!
Rizks and I have formed a cartel and buying barrels and storing them at the back of his Emporium. We hope to make a hefty profit :O)
The oil price has already touched the bottom at $ 27/b, in January 2016. Since then it has been rebounding and expected to climb back to a tag price of $ 40/b, which would help remove the dent on Qatar's economy, for sure.
The oil price between $ 40 and $ 50 per barrel has the genuine potential to benefit equally the buyers and seller countries.
Crude oil prices will remain relatively low through 2016 and 2017
The Short-Term Energy Outlook (STEO) released on January 12 forecasts that Brent crude oil prices will average $40 per barrel (b) in 2016 and $50/b in 2017. This is the first STEO to include forecasts for 2017. Forecast West Texas Intermediate (WTI) crude oil prices average $2/b lower than Brent in 2016 and $3/b lower in 2017. However, the current values of futures and options contracts continue to suggest high uncertainty in the price outlook (Figure 1). For example, EIA's forecast for the average WTI price in April 2016 of $37/b should be considered in the context of recent contract values for April 2016 delivery (Market Prices and Uncertainty Report), suggesting that the market expects WTI prices to range from $25/b to $56/b (at the 95% confidence interval).
Source : http://www.eia.gov/petroleum/weekly/archive/2016/160113/includes/analysis_print.cfm