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Earth Explorer is an online source of news, expertise and applied knowledge for resource explorers and earth scientists. Sponsored by Geosoft.


News & Views

News Archive

December 7, 2016

Geosoft introduces IP and resistivity inversion in VOXI Earth Modelling

Geosoft has added induced polarization and resistivity data inversion to its VOXI Earth Modelling 3D inversion software service. Geoscientists are now able to create detailed 3D models of conductivity and chargeability from IP and resistivity survey data with VOXI. The resulting models can assist in interpreting and targeting regions for mineral and environmental applications...

December 5, 2016

Mexico's Deepwater Round Exceeds Expectations

Some of the world's biggest oil companies showed up Dec. 5 and agreed to invest on the Mexican side of the Gulf of Mexico, proving that deepwater exploration still has a pulse despite challenging market conditions...

November 30, 2016

Magnetic inversion results for Ngamiland available for download

A regional-scale geophysical inversion of magnetic field data in the Ngamiland region of northwestern Botswana is now available for download from the Botswana Geoscience Portal, a partnership initiative of the Botswana Geoscience Institute, industry sponsors and Geosoft...

November 30, 2016

LIGO Resumes Search for Gravitational Waves

After a series of upgrades, the twin detectors of LIGO, the Laser Interferometer Gravitational-wave Observatory, have turned back on and resumed their search for ripples in the fabric of space and time known as gravitational waves. LIGO transitioned from their engineering test runs to full science observations at 8 a.m. Pacific Standard Time on November 30...

November 9, 2016

International Volcano Scientists Unite

For the first time, the United States will host the international Volcano Observatory Best Practices workshop, previously held only in Italy. The workshop will take place this month in Vancouver, Washington. It is designed specifically for volcano observatories around the world and their staff to exchange ideas and best practices with each other...

October 4, 2016

USGS Assesses Mineral Potential for Sagebrush Habitats in Six Western States

USGS has completed a comprehensive assessment and inventory of potential mineral resources covering approximately 10 million acres of Federal and adjacent lands in Idaho, Montana, Nevada, Oregon, Utah and Wyoming...

October 3, 2016

Uganda Targets Up to U.S.$100 Million for Mineral Exploration

Uganda is well endowed with mineral resources and, like many naturally-gifted African countries, is becoming keen on ensuring that these resources play a transformative role in its long-term structural transformation dream - the Vision 2040...

September 9, 2016

Small-Scale Fishers Get A Big Boost With First-Of-Its Kind Impact Investment Fund

Conservation organization Rare announces the Meloy Fund for Small-Scale Fisheries at Our Ocean Conference. The Global Environment Facility, one of the largest funders of conservation worldwide, will be investing $6 million into the fund...

September 1, 2016

Scientists take to the skies to track West African pollution

Scientists operating research aircraft over West Africa have detected organic materials in the atmosphere over a number of urban areas, contributing to concerns of the rise in pollution across the region...

August 17, 2016

New IGS Xplore prospectivity maps for Botswana

International Geoscience Services have released a series of base metal prospectivity maps for the Ngamiland District of northwestern Botswana using free geodata available on the recently-launched Botswana Geoscience Portal, hosted by Geosoft. The maps identify favorable areas for copper, zinc and lead mineralization using geological, geochemical and geophysical datasets downloaded directly from the portal.

August 11, 2016

NexGen Makes New High Grade Discovery

NexGen Energy reported the discovery of a new high grade zone of mineralization 4.7 km northeast of the Arrow Deposit as part of an on-going summer drilling program on its 100% owned, Rook I property, Athabasca Basin, Saskatchewan...

August 10, 2016

Rampion UXO Disposal to Take Place This Week

E.ON has confirmed that the two unexploded devices, detected along the Rampion offshore cable route will be safely disposed this week following the consultation with the Marine Management Organisation...

August 9, 2016

Diamonds In The Rough: E&Ps Find New Reserves In Mature Basins

The oil industry’s history demonstrates clearly that new plays and prospects have long been found in mature basins that were thought to be well on the way to being squeezed dry. Through the acquisition of new data, developing new concepts and coming up with fresh interpretations, long-producing basins around the world from the North Sea to Malaysia have continued to reveal new riches...

August 8, 2016

Northern Shield Identifies High Quality VTEM Targets at Séquoi

Northern Shield Resources announced the results of the interpretation and modelling of the VTEM survey from the Séquoi Property in the Labrador Trough of Quebec . Séquoi is owned 100% by Northern Shield and is being explored for Noril'sk style Ni-Cu-PGE massive sulphides. After geophysical modelling and interpretation of the VTEM data from Séquoi, six VTEM anomalies of significant interest have been identified...

August 3, 2016

Rio Tinto tailors big data drive to copper

Rio Tinto will put the weight of an exploration big data push and its newly-formed Growth and Innovation group behind its desire to identify a "tier 1" copper asset. Speaking at the annual Diggers & Dealers conference in Kalgoorlie, Growth and Innovation group executive Stephen McIntosh said Australia was "overdue for a tier 1" mineral discovery of any type...

August 1, 2016

Tetra Tech Awarded $200 Million Navy CLEAN Contract

Tetra Tech announced that it has been awarded a $200 million, single-award contract by Naval Facilities Engineering Command (NAVFAC) Atlantic. Through the Comprehensive Long-term Environmental Action Navy (CLEAN) contract, Tetra Tech will provide environmental engineering support services to installations within the NAVFAC Atlantic Area of Responsibility...

May 3, 2016

NATO Science for Peace and Security (SPS), MODUM Partners announce "Young Scientist Summer School on Sea Dumped Chemical Weapons"

This international project cooperates closely with CHEMSEA (Search and Assessment of Chemical Weapons) Project for and sharing and knowledge transfer...

April 12, 2016

Monday mad rush for gold stocks

Renewed optimism about the outlook for gold saw investors pile back into gold stocks, pushing many stock to 52-week highs in heavy volumes...

April 11, 2016

Medgold Resources: Continues to Expand the Boticas Gold Project, Portugal; Proposes $200,000 Private Placement

Medgold Resources is pleased to announce new assay results from contiguous rock-chip sampling from the Limarinho South zone at its Boticas gold project in Portugal, which include a highlight of 6.0m @ 5.7 g/t Au...

April 8, 2016

De-carbonizing our energy sector

Nuclear energy currently provides around 11 percent of the world's electricity. China, the European Union, the United States, India, Russia, South Korea, and other nations’ have major existing fleets...

April 1, 2016

Follow-Up Drilling Results Indicate Wide Gold Zones at Hendricks Gold Discovery

Gascoyne Resources Limited announced that it has received the final assay results from the 10,000 metre aircore exploration drilling programme...

March 26, 2016

The Oil Market Is Finally Hitting Its Breaking Point

After a significant reduction in investments over the past two years, oil companies can no longer overcome the production declines from legacy wells...

March 15, 2016

N-Sea Expands into the French Offshore Wind Industry

Subsea IMR provider, N-Sea, has signed a letter of intent with CERES Recherches & Expertise Sous-Marine and TechSub Industrie Environement, to provide subsea survey, installation and remediation services to the French offshore wind industry...

March 9, 2016

PDAC 2016 Convention Exceeds 22,000 Attendees

Optimism and opportunity abounded at the PDAC 2016 Convention of The Prospectors & Developers Association of Canada in spite of recent industry challenges...

March 3, 2016

6 Alpha Launches EOD Contracting Division

6 Alpha Associates, a specialist risk consultancy practice, with expertise in the assessment and management of unexploded ordnance, has launched a dedicated explosive ordnance disposal division...

The energy-intense world of 2030

Shale gas and tight oil production will have profound implications, predicts industry expert.

by Graham Chandler on May 28, 2013 expertise

In a recent statistics-packed Mining IQ webinar from Sydney Australia, BP’s chief economist Christof Rüehl offered a revealing glimpse into future energy trends.

In 2030, the planet’s population will be 8.6 billion, worldwide GDP will be double what it is now, and energy consumption will have grown by 1.6% per year, or 34% more than it is today, according to Rüehl, who manages BP’s global economics team. Growth in gas consumption will lead the way at 2.1% annually, with oil growing0.8%; and coal, somewhere in between. About 80% of the planet will still be dependent on fossil fuels.

What’s interesting is the mix of fossil fuels: seventeen years from now, no single fuel will be dominant and demand for gas, oil and coal will be about equal, at just under 30% each. Meanwhile nuclear energy along with renewable sources such as nuclear, hydro, wind, solar, geothermal and biomass will grow and, to some degree, converge yet remain relatively small. Rüehl figures nuclear has hit a glass ceiling and other renewables may go the same way, “particularly if costs don’t come down.”.

Huge improvements in the efficiency of fossil fuels are expected and indeed have already begun, driven by high prices. “We are becoming capable of producing more and more economic output with less and less energy,” Rüehl says. “If this continues, we see additional efficiency improvements.” Already, energy efficiency is the highest it has been in 120 years, mostly because of new technologies.

These new technologies have brought about important changes in the production of shale gas and tight oil, which, combined, are expected to account for 20% of the projected 2030 production increase. In the U.S., oil imports are projected to be 6.5 million barrels at the end of this year, compared with about 12 million bpd in the 2004-2007 period. Most of this huge decrease is due to an increase in the domestic production of tight oil. That increase has come chiefly from the U.S. and Canada – not, Rüehl says, because that’s where the reserves necessarily are but because the two countries have competitive free market systems that foster the technologies.

With oil production in 2030 pegged at 104 million bpd, and tight oil accounting for about 9 million of that amount, the question arises: What will be the impact on prices?“Our best guess is that OPEC will be willing and capable of cutting its own production in response,” Rüehl says, Iran and post-Chavez Venezuela remain wild cards.

“The role of the political process in government decisions will be much bigger than we are used to because of the widespread nature of the resources,” he adds, citing China’s decision to allow foreign investment and Poland and Ukraine’s acceptance of fracking as examples of this trend.

All of which affects the geopolitics of energy. Traditionally oil has been the essential fuel and the Middle East was the essential producer. With production in Mexico and Canada projected to rise, that may no longer be the case.

The impact of these and other energy production trends on world economies is not fully known, but Rüehl figures the effect on trade balances could be substantial as the U.S. pares its oil import bill and China expands its own, One thing is certain: as prices come under pressure, the Middle Eastern surplus will become eroded. “All of a sudden a force for good is emerging for rebalancing the global economy,” Rüehl notes hopefully.

The response of environmentalists to these trends is both positive and negative – positive because the U.S.is shifting from coal to gas applications and negative because of fracking concerns. Fear of fracking is a local problem, and fear of emissions is a global one, and they clash, concedes Rüehl. “It’s a decision point most people haven’t quite woken up to.”


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