 | Saudis officially happy with $100 oil | The Oil Drum: Europe | Can hybrids make a difference in the near future? |  |
53 comments on Oilwatch Monthly - November 2007
Comments can no longer be added to this story.
| Show without comments | PDF version
53 comments on Oilwatch Monthly - November 2007
Comments can no longer be added to this story.
| Show without comments | PDF version
User login
Personnel
Editors
Contributors
Peak Oil Primers
Archives
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- June 2006
- May 2006
- April 2006
- March 2006
Vital Trivia
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.
GAIA Host Collective
Also, if I recall correctly, the EIA also does not double count (a change made for 2007 if memory serves) in the production of biofuels. E.g., a barrel of oil used directly to produce 1.2 BOE of ethanol is no longer counted as 2.2 total BOE production. Rather, it is counted as 1.2 BOE.
I think they realized that as EtOH plants really took off and they were relying upon fossil fuels and especially liquid fuels, the numbers would be artificially inflated. Seems I recall reading that in either the notes to the IPM or the MER in late 2006.
I'm a bit dubious about the notion that it is double counting. If x barrels of biofuel use y barrels of oil, then that y barrels would show up on the demand side and x barrels on the supply side. If they're equal, there would be no overall change in supply/demand.
There is no real need to modify the figures when looking at the whole picture, otherwise you'd have to do the same for all oil resources.
In term of worldwide production you are not correct. For example, our 2nd largest supplier of oil is Mexico. Their total production is of course added to worldwide production figures and the oil is delivered here and elsewhere. It shows up as supply. The products of that oil may then be used to farm for ethanol production. The resulting ethanol then is also added in its entirety to the worldwide liquids figure. No where is it shown as a net production figure.
But the oil that went into production of the ethanol would then be extra consumption, thus cancelling out the ethanol production figure. So I still see no double counting. Am I missing something?
Consumption prior to 1 barrel of ethanol is X. Now that the ethanol is produced consumption is X+1. That's still the X that would have been consumed, plus the 1 that went into producing the ethanol. But we have 1 barrel of ethanol to add. So supply is now X+1, whilst consumption has leaped to X+1 also. No overall change from X consumption and X supply.
Net figures are not needed; it all works itself out in the supply and demand equation.