Power Plays: Energy Options in the Age of Peak Oil by Robert Rapier

Author:Robert Rapier [Rapier, Robert]
Language: eng
Format: epub
Tags: General, economics, Business & Economics, Industries, Energy, Exports & Imports
ISBN: 9781430240860
Publisher: Apress
Published: 2012-03-28T00:00:00+00:00

Miscellaneous Threats

While the three aforementioned threats are among the most glaring and potentially chronic concerns, there are other threats that can lead to short-term supply shortfalls. The 2011 civil war in Libya removed 1.6 million barrels of oil per day from the world markets, and oil prices responded by advancing back above $100 per barrel. There are numerous other oil-producing countries with the potential for civil unrest to remove oil from the markets.

Terrorism is an ever-present threat. There are a number of locations—particularly in the Middle East—where large fractions of the world's oil infrastructure are concentrated. There are also a number of oil transit chokepoints around the world where terrorism or military conflict could take a substantial fraction of the world's oil supply off the market.

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3 An obvious solution to this dilemma would be to standardize EROEI calculations on the basis of annual return in the same way financial interest is computed.

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