When will fossil fuel run out?

Even though technology is progressing fast and new fuel reserves are discovered regularly, the world is using up fossil fuels at an ever increasing speed. And while new supplies are continuing to be found it is not always economically feasible to extract fossil fuels. NRG Expert’s team of energy analysts have therefore been reviewing the power generation issue. They have completed in-depth research and recently published a comprehensive database of global fuel generating capacity, and future power forecasts up to 2020.

This power generation database will help companies answer the million dollar question, which is; “ how much power will each fuel generate historically, presently and in the future?”

Here are some highlights from NRG Expert’s Power Generator Database and Market Intelligence:

Global Generating Capacity

  • Global generating capacity rose 63% from approximately 134 GW in 1938, to 213 GW in 1950
  • Then by 2010 it had shot up to 5,082 GW.
  • Global capacity is forecast to reach 7,390 GW by 2020.
  • NRG Expert’s Power Generator Database forecasts that our energy demands will grow by another 53% by 2050.
  • Coal generates the highest capacity with an estimated 1.7 Million MW produced worldwide.

Fuel Generation – Country Highlights

Known oil deposits will be gone by 2052

Globally,  we currently consume the equivalent of over 11 billion tonnes of oil in fossil fuels per year. The CIA World Factbooks states that “Crude oil reserves are vanishing at the rate of 4 billion tonnes a year – if we carry on at this rate without any increase for our growing population or aspirations, our known oil deposits will be gone by 2052.”

“We will of course still have gas and coal. But if we increase production to fill the energy gap left by oil, then those reserves will only give us an additional eight years, taking us to 2060.”

Market Research and Data

The power generation database provides detailed information on fuel reserves, power generation and new and existing power plants.  Containing in-depth market data, categorized by country and fuel type. It looks at the power volumes each type of fuel generates covering all the major countries across Europe, Americas, Asia, Africa, Middle East and Australasia

The database has a detailed analysis of thermal energy sources – coal, oil and gas, and a detailed analysis and forecasts for renewables. The energy analysts forecast that there will be some fundamental shifts in the projected generating capacity of each fuel type and companies and countries need to be aware of these shifts.

If you are searching for information about fossil fuels, fuel reserves and power forecasts, the Power Generator Database contains a wealth of data, information and analysis.

>>View the Power Generator Database

 

References

Fossil fuel reserve and consumption data from CIA World Factbook. Published on Ecotricity.co.uk.  Other information from NRG Expert Power Generator Database

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