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Poverty, Carbon and the Role of Natural Gas
AIPN 2019 Boulos Lecture originally presented at the International Petroleum Summit in Houston
Dr. Scott W. Tinker, Director, Bureau of Economic Geology, The University of Texas at Austin
Each year AIPN hosts an annual lecture series in honor of Alfred J. Boulos, former AIPN president and highly-regarded international petroleum negotiator. The AIPN 2019 Boulos Lecture, presented at the International Petroleum Summit, May 23, 2019, featured Dr. Scott Tinker, Director of the Bureau of Economic Geology, the State Geologist of Texas, and a professor holding the Allday Endowed Chair at The University of Texas at Austin, on the topic of poverty, carbon and the role of natural gas.
Economic poverty and climate change are two major challenges facing humanity. At the heart of economic poverty lies an energy paradox: energy cannot lift the world from poverty, yet poverty cannot be ended without energy. Over 2 billion people in the world suffer from some form of energy poverty. At the heart of climate change lies another energy paradox: climate models suggest that current warming results from combustion of fossil fuels producing carbon dioxide, yet 85% of the world’s energy that is needed to adapt to climate change comes from fossil fuel combustion. Reducing global poverty, and realistic carbon policies, are not mutually exclusive. There exists a “radical middle” that can address both, and still preserve a healthy global economy. Natural gas has a major role to play.
Key Issues in Reserves Analysis
This video presentation discusses the main definitions for oil and gas reserves and resources in use around the world today. The criteria to be met are addressed and the differences between project risk and recovery uncertainty are explained. The challenges and opportunities provided by unconventional resources is also reviewed. Finally, the discussion focusses on the derivation of value.