Understand Energy Demand, Understand the World
In the last 40 years, there are three major oil crisis: 1973, 1979 and 1990 all related with wars.
Energy from US perspective: Healthy Balance?
If we look back in last 100 years. In 1900, Oil only used by 4% of US energy composition. All the energy demand can be fulfilled by using internal production. In 1948, US begin become energy importer. In 1973 50% of US oil consumption is import, in 1979 55% of US oil consumption is import.
If we see 2011 US Annual Energy Review, Energy is a complicated diagram. The US energy balance is on the better shape since 1950. In 2014 US imported 9 Mmb/d Oil and Export 4Mmbd/d or Net Import 5 Mmb/d equal to 27% of petroleum consumed in US, lowest since 1985. FYI, Top Five Biggest Oil Producer: US, Saudi, Russia, China, Canada, Iraq. Oil is complicated
Indonesia: Who Killed Indonesia?
- In 1898, Oil discovered in Netherland East Indies. No one can predict the future. That it was one of the biggest oil field in the Pacific
- In 1940s, Indonesia is fourth largest exporter of oil in the world (US, Iran and Romania), Japan Pacific War is about Oil.
- In 1977, Indonesia producing 1.65 Mmb/d
- In 2014, Indonesia estimating producing 800 Mbd (Consuming around 600 Mbd), Importing aroung 500 Mbd. No longer OPEC member