The Government's Chief Scientific Officer
Posted: 01 Nov 2005, 08:45
I have received this response:
Dear Mr Hemming
The assessment of the Government's Energy Group of the remaining lifespan of global oil reserves was outlined in the Energy White Paper 2003 "Our energy future - creating a low carbon economy" (http://www.dti.gov.uk/energy/whitepaper/index.shtml). To quote from paragraph 6.15, 'Globally, conventional oil reserves are sufficient to meet projected demand for around 30 years, although new discoveries will be needed to renew reserves. Together with non-conventional reserves such as oil shales and improvements in technology, there is the potential for oil reserves to last twice as long.'
Notwithstanding recent strong rates of global oil consumption growth - which themselves are unlikely to persist - the Government's current assessment is that global oil production is not about to imminently reach a peak. As you know, the International Energy Agency's (IEA) 2004 World Energy Outlook contained a detailed analysis of the uncertainties surrounding global oil (and gas) reserves and, whilst noting that there is uncertainty about the exact size of global oil reserves, it concluded that global production of conventional oil will not peak before 2030 if the necessary investments are made. Furthermore, in its April Oil Market Report, the IEA noted that global oil production capacity is likely to grow by a yearly average of 1.75 million barrels per day through to 2010.
However, I am not complacent. Like the IEA, the Government recognises that significant investment will be required to turn these reserves into production. The UK is therefore working with producers, consumers and the international community to improve the conditions for investment in the international energy sector. On the demand side, the Government is working with developing countries to encourage more effective management of energy demand, through energy efficiency improvements and the development of renewable sources of energy. Domestically, Government is working with industry to maximise the economic potential of North Sea supplies.
The Government also recognises that global oil (and gas) reserves are finite, and as set out in the Energy White Paper, is already putting in place policies that will help ease the UK economy away from power supplied primarily through fossil fuel supply as well as bringing about reductions in carbon dioxide emissions. But I am fully aware of the need to do scenario work - from worst to best case - on oil and gas reserves and our ability to be prepared for each of them. This is something I currently have in hand.
On 15 November 2005, at 11.00 there is a meeting of MP's to discuss a related topic - carbon capture and storage. I will be attending and speaking at the meeting, and if you would find it useful to attend, you may wish to contact Bob Blizzard MP, who is arranging it. The meeting will take place in Committee Room 15.
Regards
Dave King
Sir David King
Chief Scientific Adviser to HM Government
Room 372
Office of Science and Technology
1 Victoria Street
London
SW1H 0ET
Dear Mr Hemming
The assessment of the Government's Energy Group of the remaining lifespan of global oil reserves was outlined in the Energy White Paper 2003 "Our energy future - creating a low carbon economy" (http://www.dti.gov.uk/energy/whitepaper/index.shtml). To quote from paragraph 6.15, 'Globally, conventional oil reserves are sufficient to meet projected demand for around 30 years, although new discoveries will be needed to renew reserves. Together with non-conventional reserves such as oil shales and improvements in technology, there is the potential for oil reserves to last twice as long.'
Notwithstanding recent strong rates of global oil consumption growth - which themselves are unlikely to persist - the Government's current assessment is that global oil production is not about to imminently reach a peak. As you know, the International Energy Agency's (IEA) 2004 World Energy Outlook contained a detailed analysis of the uncertainties surrounding global oil (and gas) reserves and, whilst noting that there is uncertainty about the exact size of global oil reserves, it concluded that global production of conventional oil will not peak before 2030 if the necessary investments are made. Furthermore, in its April Oil Market Report, the IEA noted that global oil production capacity is likely to grow by a yearly average of 1.75 million barrels per day through to 2010.
However, I am not complacent. Like the IEA, the Government recognises that significant investment will be required to turn these reserves into production. The UK is therefore working with producers, consumers and the international community to improve the conditions for investment in the international energy sector. On the demand side, the Government is working with developing countries to encourage more effective management of energy demand, through energy efficiency improvements and the development of renewable sources of energy. Domestically, Government is working with industry to maximise the economic potential of North Sea supplies.
The Government also recognises that global oil (and gas) reserves are finite, and as set out in the Energy White Paper, is already putting in place policies that will help ease the UK economy away from power supplied primarily through fossil fuel supply as well as bringing about reductions in carbon dioxide emissions. But I am fully aware of the need to do scenario work - from worst to best case - on oil and gas reserves and our ability to be prepared for each of them. This is something I currently have in hand.
On 15 November 2005, at 11.00 there is a meeting of MP's to discuss a related topic - carbon capture and storage. I will be attending and speaking at the meeting, and if you would find it useful to attend, you may wish to contact Bob Blizzard MP, who is arranging it. The meeting will take place in Committee Room 15.
Regards
Dave King
Sir David King
Chief Scientific Adviser to HM Government
Room 372
Office of Science and Technology
1 Victoria Street
London
SW1H 0ET