If the unconventional oil resources, including oil shale, oil sands, extra heavy oil and natural bitumen are taken into account, the global oil reserves will be four times larger than the current conventional reserves.
Demand for energy will continue to grow for decades to come.
Population increases and a growing rate of electrification will place huge requirements on energy supplies. Global primary energy demand could increase by 50% by the middle of the century.
The total energy demand in China alone is expected to double by 2035, and that of India to increase by almost 150% during the same period. Both countries are expected to dominate the energy demand in the near future.
The leading world economies are powered by coal: about 40% of electricity in the United States and 79% of the electricity in China is generated in coal fired thermal plants.
Despite unbroken growth in consumption, reserves of hydrocarbons have continued to increase over the last 20 years.
The size of trapped oil is staggering.
There is currently an estimated 6.1 Trillion Barrels of oil still trapped in the ground.
Recovering just 1% of the trapped oil market would be 61 billion barrels of oil.
There is currently new innovations in oil recovery technology that is the answer to our future energy security.
My favorite is Titan Oil Recovery
Joshua Mosshart Bio
Source: World Energy Council
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