Transcript FUTUREGEN - Petroleum Accountants Society of the Permian Basin

FUTUREGEN
……..the impending marriage
between Coal and Oil
THE SITUATION
The American Energy Security Study*
Building a bridge to Energy Independence and a Sustainable Energy Future
“The study finds that this nation faces four serious oil-related risks:
1. Excessive dependence on the OPEC cartel and on other unstable
foreign oil suppliers
2. Conventional petroleum supplies are not meeting dramatic
increases in world demand
3. Rapidly increasing global competition for oil from China, India,
and other nations
4. Supply disruptions from natural disasters, political causes, and
potential terrorism”
*Sponsored by the Southern States Energy Board
SPARKMAN’S ADDITIONS
5. The nation’s addiction to CHEAP oil, and
subsequent unrealistic economic
expectations.
6. POLITICS – or, better said, Political
Correctness
US Energy Resources
U.S. Energy Resources
Source: U.S. Department of Defense
Coal
Domestic Resources
• 1 trillion barrels (shale)
• 800 billion barrels of FT (coal)
• 0.15 billion barrels (pet coke)
• 22.7 billion barrels oil reserves
• 32+ billion barrels of oil (EOR)
• Total 1.9 trillion barrels
Oil Shale
EOR
4
Bottom Line: We could be the New
Bottom
Line
– New
Middle East
Middle
East
—1.9
Trillion
Barrels
Old Middle East
Saudi Arabia:
Iraq:
UAE:
Kuwait:
Iran:
Qatar:
Oman:
Yemen:
Syria:
261.8 Billion Barrels
112.5 Billion Barrels
97.8 Billion Barrels
96.5 Billion Barrels
89.7 Billion Barrels
15.2 Billion Barrels
5.5 Billion Barrels
4.0 Billion Barrels
2.5 Billion Barrels
Source: U.S. Department of Defense
TOTAL
685.5 Billion Barrels
5
What Is FutureGen?
FutureGen is a US$1 billion public-private
partnership to design, build, and operate
the world's first coal-fueled, "zero
emissions" power plant.
The commercial-scale plant will prove the
technical and economic feasibility of
producing low-cost electricity and hydrogen
from coal while nearly eliminating
emissions. It will also support testing and
commercialization of technologies focused
on generating clean power, capturing and
permanently storing carbon dioxide, and
producing hydrogen.
In the process, FutureGen will create
unique opportunities for scientific
exploration, education, and stakeholder
engagement.
Source: FutureGen Alliance website
A BRIGHTER TOMORROW
Addressing Energy
Challenges
FutureGen addresses three
major energy challenges:
1) ensuring the availability
of clean and affordable
electricity worldwide,
2) increasing energy
security by strengthening
the role of coal in the international energy portfolio and relieving
pressure on other high-priced forms of energy, such as natural gas,
and
3) developing technology to address concerns associated with climate
change.
Source: FutureGen Alliance website
Areas with
CO2- EOR Potential
Source: Texas Bureau of Economic Geology
Texas Coal Areas
Source: Clean Coal Technology Foundation of Texas
WEST TEXAS: AMERICA’S ENERGY EPICENTER
Area industries, economies, geology, geography and physical
characteristics combine to offer diverse and expansive energy-related
opportunities that could only be dreamed of a decade ago.
Crude oil and natural gas – The development of new technologies will
dramatically extend the productive life of this prolific oil and natural
gas producing region. With 70% of known Permian Basin oil in place,
new technologies will spur enormous increases in oil and gas
production.
Solar, wind, biomass, hydrogen and geothermal – Few geographic
regions in the U.S. offer the combined geology, topography and
environmental characteristics that support the expansion of research,
testing and implementation of these increasingly important energy
technologies.
WEST TEXAS: AMERICA’S ENERGY EPICENTER
Nuclear – The combination of a proposed major uranium-
enrichment facility and a federal facility approved for handling
radioactive waste makes the Permian Basin an increasingly likely
location for the testing, development and implementation of
enhanced nuclear energy capabilities that can meet the energy
needs of our state and nation.
Electricity – The growing demand for electricity generated from
clean-burning natural gas has led to the regional location of major
generating facilities. Further development of coal gasification
technologies will dramatically reduce environmental concerns while
increasing area Enhanced Oil Recovery efforts.
Can America become 75% less dependent
on Middle Eastern oil
by 2025?
YES!!!
With projects like FutureGen and others,
if we use our rich energy history as a
springboard and
if we look at ALL energy forms,
starting with DOMESTIC fossil fuels!
Stephanie Sparkman, Executive Director
West Texas Energy Technology Initiative
6 Desta Drive, Suite 2560
Midland, TX 79705
432.684.9994
432.684.9998 fax
[email protected]
www.energyinitiative.info