ENERGY — MAJOR SOURCES AND CONSUMPTION

Abstract

We are wholly dependent upon energy of solar, terrestrial and celestial origin. Contributions from any basically new form of energy are unlikely. Fossil fuels are the basis of modern economies, crude oil being dominant.

Overall energy demand and the considerable, special merits of crude oil and natural gas will lead to enormous demand for these two commodities in the coming decades. Oil and gas lend themselves to the economies of scale which are as important as technical factors. Vigorous and efficient world-wide exploration and research and development in improved recovery would appear urgent and important. A shortfall in these commodities could have serious economic repercussions world-wide. A massive shortfall could be disastrous.

Research and development in coal, oil shale, tar sands, heavy oil, nuclear fracturing of reservoir rocks and fundamental issues to improve overall efficiency in using resources are worth early expenditure. Doubling total system efficiency or recovery percentage would each be equivalent to doubling proven reserves.

Australia seems fairly well endowed with natural gas and brown coal but the locations with respect to large population centres are less than ideal. Reserves of uranium are also substantial. There could be serious shortages of black coal and oil resources. A good balance of components might not be easy to achieve if national security were given due weight. For example, to maintain its industrial economic growth Australia needs imported crude oil as a major contributor to primary energy consumption in spite of vulnerability to foreign control of supply and price.