Lecture

Global Arctic: Oil & Gas Exploitation

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Description

This lecture delves into the exploration and exploitation of oil, gas, and coal resources in the Arctic region. It covers the proven and prospective reserves, advantages, drawbacks, and determining factors influencing future exploitation. The presentation also discusses the environmental concerns, current production statistics, and the economic impacts on the Arctic region, emphasizing the importance of Arctic onshore oil and gas resources for Russia and the US. The lecture concludes by highlighting the evolving approaches of governments and investors towards Arctic resources, which are contingent upon various factors like prices, demand, technologies, and international policies.

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Related concepts (32)

Coal

Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements, chiefly hydrogen, sulfur, oxygen, and nitrogen. Coal is a type of fossil fuel, formed when dead plant matter decays into peat and is converted into coal by the heat and pressure of deep burial over millions of years. Vast deposits of coal originate in former wetlands called coal forests that covered much of the Earth's tropical land areas during the late Carboniferous (Pennsylvanian) and Permian times.

Coal mining

Coal mining is the process of extracting coal from the ground or from a mine. Coal is valued for its energy content and since the 1880s has been widely used to generate electricity. Steel and cement industries use coal as a fuel for extraction of iron from iron ore and for cement production. In the United Kingdom and South Africa, a coal mine and its structures are a colliery, a coal mine is called a 'pit', and the above-ground structures are a 'pit head'. In Australia, "colliery" generally refers to an underground coal mine.

Coal in China

China is the largest producer and consumer of coal and the largest user of coal-generated electricity in the world. The share of coal in the Chinese energy mix declined to 55% in 2021 according to the US Energy Information Agency. The Chinese central government has clamped down on the pace of new construction of coal plants and shifted to renewable, nuclear and natural gas sources. At the same time, coal consumption reached new heights in China with carbon dioxide emissions from coal-fired electricity production estimated to top 4.

Environmental issues

Environmental issues are disruptions in the usual function of ecosystems. Further, these issues can be caused by humans (human impact on the environment) or they can be natural. These issues are considered serious when the ecosystem cannot recover in the present situation, and catastrophic if the ecosystem is projected to certainly collapse. Environmental protection is the practice of protecting the natural environment on the individual, organizational or governmental levels, for the benefit of both the environment and humans.

Coal in Australia

Coal is mined in every state of Australia. The largest black coal resources occur in Queensland and New South Wales. About 70% of coal mined in Australia is exported, mostly to eastern Asia, and of the balance most is used in electricity generation. In 2019-20 Australia exported 390 Mt of coal (177 Mt metallurgical coal and 213 Mt thermal coal) and was the world's largest exporter of metallurgical coal and second largest exporter of thermal coal. Coal mining in Australia has been criticized, due to carbon dioxide emissions during combustion.

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