Oil security

After hearing a bit about middle eastern energy reserves and energy security around the world i became interested in the topic. We live in a modern world with a high dependence on fossil fuels yet a generally low energy security in the western world. Take Ireland as an example, we import in the region of 90% of our energy needs with only a small fraction of our energy being produced my renewable sources. To clearly put things in perspective just think that the majority of the words oil is in a region of instability and conflict, the middle east, 63.3% of the worlds proven oil reserves in 2003 where located in the middle east, with 22.9% of worlds oil in Saudi arabia. As well as this the middle east had 40.8% of world gas in 2003 also. It is apparent from these figures that at any stage should the middle east boycott the rest of the world for oil or simply run out, it would have a negative knock on effect with world markets and oil supplies. Even without the possibility of an oil crash, it is only logical that a country have a means of back up power should the situation ever arise. In all our discussions on sustainability it seems apparent that the beginning of the answer would be for each country to attempt to produce its energy needs without other nations. While it is not a practical short-term solution i think it is the path that should be taken. As our energy returns from renewable sources increases the effects of an oil shortage can be lessened dramatically over time.

~ by oisindonohue on March 2, 2010.