Total: Peak Oil Before 2020
Posted by Big Gav in peak oil, total
Reuters reports that an executive of French oil company Total expects oil production to peak before the end of the next decade - and wants the company to move into nuclear power in the post-oil age (something Bucky Fuller predicted would be the next step for the oil industry) - Total sees nuclear energy for growth after peak oil.
French oil and gas giant Total (TOTF.PA: Quote, Profile, Research, Stock Buzz) is targeting nuclear energy to drive growth long after oil and gas output peak, a top executive said on Monday.
"In the future, energy demand will be constrained by tight supply," Arnaud Chaperon, Total's senior vice president for electricity and new energies, said in a presentation to a nuclear energy conference in Qatar. "Oil and gas will still play a big role in the energy balance. But in the electrification of the world economy, nuclear will play a major role, together with the development of solar and other renewables ... That is why Total is very interested in developing nuclear and renewables."
Global oil output was likely to peak toward the end of the next decade, while gas would follow a decade or so later, he said. Total executives had said previously they expected global oil production to level off just short of 100 million barrels per day around 2020, up from current output of about 85 million bpd.
Total believed it could leverage its experience building megaprojects in the energy industry to take a foothold in the nuclear industry, Chaperon said.
Posts
