13	EDITOR IAL

ENERGY CONSERVATION AND ALTERNATIVES
Lest recent rises in oil prices lull us into a false sense of security we need to be reminded that the 3 year high oil futures prices of $24 per barrel recorded in April resulted from reaction to a North Sea gas explosion (forcing the shutdown of a major pipeline carrying 472,000 barrels a day of Brent crude mostly to European cities) and an industry report that showed US crude production fell to its lowest level since the 1960s. Worldwide crude is flowing at an 8 year high of 50.6 million barrels a day, with a 95 day reserve supply on hand in the major industrialised nations.
Following the second oil shock of 1979 OPEC produced 60% of the world's petroleum. Today that figure has fallen to 40% but may creep back up to 60% in the 1990s. Although global oil demand is growing at almost 2% annually, which will push OPEC to full capacity and prices above $30 a barrel during the 1990s when adjusted for inflation the higher prices level will still amount to only 60-80% of peak oil price reached in 1981. Thus Mexico will earn $8.7 billion from oil exports this ear but pay almost as much in interest on its $100 billion foreign debt.
OPEC's clout has declined because consumers have become less dependent on its product. The United States, for example, had no strategic oil reserves 15 years ago but today have 500 million barrels stored in salt domes in Louisiana and Texas. Conservation measures such as more fuel-efficient cars and the widespread use of insulation in new construction, and the growth of alternative energy sources have also played a part. Atomic energy is a major energy source in some industrialised countries, especially in Europe where France, for example, now generates 70% of its electricity using nuclear reactors.
Current oil price levels encourage consumption and discourage conservation efforts and the development of alternative energy sources. Nevertheless the need for energy conservation is apparent now more than ever. Uncontrolled consumption and sub-optimal use of our non-renewable oil and gas resources can hardly be afforded. Oil importing countries recognised the need for energy conservation during the oil shock of the 1970s and educated their population in the benefits of conservation measures. The mere survival of many of these countries, especially those of the Third World, meant cutting oil imports thereby creating foreign exchange for other essential imports. In the case of Jamaica, which was spending 80% of its foreign exchange earnings on the importation of oil by 1979, an energy conservation campaign resulted in a 20% decrease in fuel consumption by 1981.
In Trinidad the less oil we use locally the more is available for export and the greater the foreign exchange earnings. The need to conserve energy is probably only now becoming obvious to us as gasolene prices approach $6 (TT) a gallon and as utility rates become noticeable. The introduction of coin-pressed natural gas (CNG) powered cars is a step in the right direction but is unlikely to nave a serious impact in me short term. Conservation is probably the best (and only?) short-term solution for creating additional oil for export and foreign exchange earnings.
In this respect there may be a justifiable need to begin looking seriously at developing alternative energy sources. Ocean thermal energy conversion (OTEC), which utilises temperature differences (18-200C) between warm surface water and cold water at great depth (l000m) to operate a thermal engine, is at the prototype stage. Both the U.S. and Japan have carried out full-scale experiments in Hawaii and Mauru respectively and it is worth noting that this form of energy involves a third of the world's oceans, where the temperature difference between bottom and surface is l80C.
More common sources of energy such as hydroelectric, geothermal and nuclear, though well developed in other parts of the world, are not applicable locally. Solar energy is probably the most relevant alternative energy source available in Trinidad and over the last 20 years has been developed in several applications locally (see page 9).
We have been assured that proven natural gas reserves of l4tcf in Trinidad and Tobago are capable of supplying our energy needs for the next 100 years. However our oil production to reserves ratio is currently 8 to 10 years. The need to practice conservation and to develop viable alternative energy sources is critical, not only to ensure optimal use of a wasting resource such as petroleum, but to create additional barrels for export.

KIRTON RODRIGUES

Editor.

Home | About Us | Links To The World  |  Publications | Upcoming Events |

Feedback | Executive Members | Geology |Teaching Resources| Virtual Field Trip

THE GEOLOGICAL SOCIETY OF TRINIDAD & TOBAGO
P.O. Box 3524, La Romain, Republic of Trinidad and Tobago, W.I.

Comments or Questions?