Early the Future of Oil as a Source of Energy.
What is the future of oil as a primary source of energy? This question assumes paramount importance not only for the oil industry for oil-dependent economies, especially those in the Gulf region. Concerns about the diminishing prospects for oil arise from multiple challenges threatening both supply and demand. On the supply side, the depletion of finite reserves and the ultimate physical exhaustion of this natural resource are obvious factors. On the demand side, the increasing viability and the expanding use of alternative and renewable energy sources, fuelled by environmental concerns, are adversely affecting the position of oil.
In view of these trends, is the world moving inexorably toward the end of the oil era? Will technological breakthroughs in the field of alternative fuels dramatically change the energy scenario? Will new energy substitutes undermine the supremacy of oil? Will the economic demise of oil precede the physical exhaustion of reserves? These and related questions were debated by a panel of energy experts at The Emirates Center for Strategic Studies and Research's (ECSSR) Sixth Annual Energy Conference entitled The Future of Oil as a Source of Energy in Abu Dhabi, UAE. The conference presentations compiled in this book provide a comprehensive analysis of the future of oil by assessing the present realities and prospects of the oil sector, tracing the growth of alternative and renewable energy sources and examining the impact of environmental concerns. The volume also focuses on aspects of energy quality in the ongoing energy transition, highlights new technological developments in the oil industry and suggests ways to ensure price stability in the oil market.
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|Publication:||The Middle East|
|Article Type:||Book Review|
|Date:||Aug 1, 2003|
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