As much as 65 percent of the world’s oil and gas reserves are controlled by national oil companies according to new research
oilprice.com
This article talk about the Global oil reserve now mostly hold either by Saudi's, Russian, Iranian and Venezuella. However what I like to point out from this article is the question: "Is Oil and Gas going to diminish in importance by those green energy?".
I do sense the Investment on those ussual Green Energy as my previous posts put will not be enough to cover Global demand of energy. Especially when those "greenies' still lobby for not only less fossil fuel but also less nuclear.
This photo I take from this article:
The world population will reach eight billion this year and India will become Earth’s most populated country in 2023.
cosmosmagazine.com
Look at photo and take a look of Global population growth, Asside From China, India, and rest of East and Southeast Asia, most of the other lights in the nights (thus represent high energy consumption places) are North America, Europe, Middle East, Coastal Brazil and Coastal Australia. Those are not the biggest population growth center in future.
Look at Africa, thats where population growth in future. Africa still mostly dark, thus will those big population growth in Africa can afford those fancies greenies energy ? No, they will most likely going use relatively more affordable (in Investment to produce) of proven fossil fuels.
30 years ago most of Asia still darker then Eurozone and North America. Now the brightness in Asia (including middle east) rivalling Eurozone and North America. Even the brightness in Asia still not fully distributed yet.
Is Asia proportion of Green Energy Investment already on par with the other two region? Off course not, and will Africa will still as dark in next 2-3 decades ? Most likely not. Will they are brighthening the nights with Green Energy in the future? Doubtfully will be.
So will the prospect of Fossil energy dimmer in few decades in the future ? Perhaps in Euro, North America and some parts of more prosperous Asia. However not for the rest of that high growth population center, where their population also hungry for energy.
So much talk on Green Energy, as future for all Global energy within two decades. Well off course my ussual ranting in Energy: Unless the green energy include nuclear.