French President Emmanuel Macron says the global oil system will be in dire straits if it does not stabilize. If it goes down, so will the shift to green energy that needs a stable world oil supply for a successful transition.
French scientists warn about dwindling oil production soon
The warning by scientists from France gave this doomsday scenario that most might not have taken into account. According to the French, if the world will not mind this warning, which can slip from one energy crisis to another.
In an estimated thirteen years to go, all oil production in the world will not be stable and spiral down to disastrous levels. The count down for all the oil and gas industries will fail in three-decade from now, reported the Express UK.
French scientists Louis Delannoy, Pierre-Yves Longaretti, and Emmanuel Prados from National Institute for Research in Digital Science and Technology (INRIA) had published their study in the Elsevier's Applied Energy journal.
They explained that there is enough oil and gas for everyone's needs, but additional energy is needed to get the supply out. Somehow there is a need to lessen power for drawing out the oil to save supplies. It poses far worse energy shortages felt global and erratic spikes in the cost to acquire it.
Energy crisis needs countermeasures
One point stressed by the scientists is that if the Energy Return On Investment (EROI) is kept high, it will be a disaster. It is essential to keep the EROI measured to know how much oil is processed. This is important considering the global oil system, noted Science Daily. Emmanuel Macron says it is just as important as green energy.
One finding shows that 15.5 percent, or a tenth more of all energy used to harvest from oil globally, will need extra on top of the oil used for production. One conclusion is that more oil is required in order to produce energy. Extra measures to extract oil will produce more greenhouse gases
Scientists explain that once oil is hard to extract, more energy is needed to hasten the increase of the extraction process that is not getting any easier.
One of these methods, called fracking, will cause increased greenhouse gases to be produced to get to the hard to extract oil. More of these greenhouse gases will spike up global warming, which will cause a setback in zero-carbon goals.
Speculation about the future trajectory until 2024 is not so favorable for greenies. The current rate of 15.5 will swell to 25 percent to enable extraction of oil and gas altogether, cites the BBC.
Transition to green energy will be affected by oil energy crisis
The EROI will mean only 75 percent will be usable from gas and oil extraction, with a quarter lost in predicting. Projection by 2050 says half of all oil from the global reserves should be returned to keep it from drying out.
This phenomenon is called cannibalizing energy for production's sake which is a bit hard on the supply. It becomes crucial to stabilize the energy spent to extract oil and gas, or there will be less for the economy and society, which is a deadly outcome for the global oil system. President Emmanuel Macron sees it as a block to green energy.