Middle East Energy in the World Context Guy Caruso, Administrator Energy Information Administration Cornell University Energy Security Conference November 10, 2006 Ithaca, NY
World Oil Prices in Three Cases, 1980-2030 (2004 dollars per barrel) 100 History Projections High Price 80 60 Reference 40 Low Price 20 0 1980 1995 2004 2015 2030 Annual Energy Outlook 2006
World Marketed Energy Use by Fuel, 1980-2030 (quadrillion Btu) 300 History Projections 250 33% Oil 27% 200 38% 26% Coal 150 Share of 24% World Natural Gas 100 Total 24% Renewables 9% 50 8% 5% 6% Nuclear 0 1980 1985…
World Oil Consumption, 2003, 2015, and 2030 (million barrels per day) 70 60 58 60 OECD 54 50 49 Non-OECD 45 40 32 30 20 10 0 2003 2015 2030 North America OECD Europe OECD Asia Non-OECD Europe and Eurasia Non-OECD…
World Oil Reserves by Country, as of January 1, 2006 (billion barrels) Saudi Arabia Canada Iran Iraq Kuwait UAE Venezuela Russia Libya Nigeria United States China Qatar Mexico Algeria Brazil World Total = Kazakhstan…
Share of World Oil Reserves, 2005 8% Africa 3% Asia & Oceania Middle East 7% Europe/FSU 58% Western Hemisphere 24%
Top World Oil-Producing Regions, 2005 (million barrels per day) 30 25 20 15 10 5 0 Middle East Western Europe/FSU Africa Asia & Oceania Hemisphere
World Liquids Production (million barrels per day) 140 120 Unconventional 100 80 OPEC Conventional 60 40 Non-OPEC Conventional 20 0 2003 2008 2013 2018 2023 2028 International Energy Outlook 2006
World Unconventional Liquids Production, 2005 and 2030 (million barrels per day) 4 3.6 2005 3 2030 2.1 2.1 2.1 2 1.7 1.0 1 0.7 0.5 0.2 0.0 0.0 0.1 0 Oil Sands Ultra Gas to Coal to Biofuels Shale Oil Heavy Liquids…
U.S. Crude Oil Production by Source, 1990-2030 (million barrels per day) 10 History Projections 8 6 Total 4 Lower 48 Onshore 2 Deepwater Offshore Alaska Shallow Water Offshore 0 1990 2000 2004 2010 2020 2030…
U.S. Unconventional Oil Production, 2030 (million barrels per day) 2.5 59.7 2 1.5 1 0.5 0 Low Price Reference High Price Liquids from Gas Liquids from Coal Synthetic Crude from Oil Shale Annual Energy Outlook 2006
U.S. Petroleum Supply, Consumption, and Net Imports, 1960-2030 (million barrels per day) 30 History Projections 25 20 62% Consumption Net Imports 15 58% 10 Domestic Supply 5 0 1960 1970 1980 1990 2000 2010 2020…
World Natural Gas Consumption, 2003, 2015, and 2030 (trillion cubic feet) 120 108 100 OECD 80 Non-OECD 74 72 63 60 50 45 40 20 0 2003 2015 2030 North America OECD Europe OECD Asia Non-OECD Europe and Eurasia Non-OECD…
World Natural Gas Reserves, as of January 1, 2006, and Cumulative Consumption, 2003-2030 (trillion cubic feet) Middle East Reserves Cumulative Consumption, 2003-2030 Russia Africa Asia World Natural Gas Reserves = 6,112…
Share of World Natural Gas Reserves, 2006 Asia & Oceania Africa 6% 8% Europe/FSU 35% Middle East 42% 8% Western Hemisphere
Top Natural Gas-Producing Regions, 2005 (trillion cubic feet) 45 40 35 30 25 20 15 10 5 0 Europe/FSU Western Asia Middle East Africa Hemisphere
U.S. Natural Gas Production, Consumption, and Net Imports, 1960-2030 (trillion cubic feet) 30 History Projections 25 Consumption Net Imports 21% 15% 20 Production 15 Natural Gas Net Imports, 2004 and 2030 (trillion cubic…
Global Proved Oil Reserves Ownership (1.1 trillion barrels) Exxon/Mobil 1.0% BP 0.9% Investor owned oil Europe NOCs 1.0% Chevron reserves: 4% of total 0.9% Asia NOCs 2.1% ConocoPhillips 0.6% Africa NOCs Shell 6.6% 0.5%…
National Oil Companies, Mostly in the Middle East, Control 75 Percent of World Oil Reserves W. Hemisphere Middle East Privately Owned (327 billion barrels) National Oil Eurasia Companies (966 billion barrels) Asia W.…
Almost All of the Worlds Excess Production Capacity is in the Middle East (million barrels per day) 12 10 8 6 4 2 0 0 2 4 6 8 0 84 86 88 90 92 94 96 98 00 02 04 06 2 7 7 7 7…
Most Major Oil Market Disruptions Have Occurred in the Middle East In Terms of Peak Oil Disruption Size, Million Barrels per Day IEA
More than One-Third of the Worlds Seaborne Oil Shipments Flow Through the Persian Gulf The Strait of Hormuz is the Worlds Most Strategic Oil Chokepoint with flows in 2005 of more than 17 million barrels per day
Projected SPR Import Protection (days of net imports) 120 Fill at 700 million barrels Historical 90 60 118 82 75 30 61 52 51 43 40 35 17 0 0 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025
Periodic Reports Petroleum Status and Natural Gas Storage Reports, weekly Short-Term Energy Outlook, monthly Annual Energy Outlook 2006, February 2006 International Energy Outlook 2006, June 2006 Examples of Special Analyses Economic…