Oil, Gas Still Main Global Energy Resource, Says Expert

Oil and gas will remain as an indispensable core resource towards fulfilling global energy needs and consumption of these resources is expected to increase drastically by the year 2030.

This was said by Dr Tilak Doshi, an expert from the Saudi Aramco, during a public lecture at Universiti Brunei Darussalam (UBD).

According to Dr Doshi, this forecast was based on the assumption of global Gross Domestic Product (GDP) which is expected to double by 2030. However, he said, most growth in both energy consumption and GDP was expected to occur in
the non-Organisation for Economic Co-operation and Development (OECD) countries with Asia leading with the highest rate.

He said to meet the energy demand, oil producing countries would need to come up with reserves nearly six times the size of Saudi Arabia to meet the demand. The other non-renewable and renewable sources of energy are simply too expensive or not productive to meet the demands, he said.

Dr Doshi elaborated that the unconventional oil resources such as Oil Sands, Bitumen and Shale Oil were too costly to produce. “These resources will not be able meet the demand of global growth,” he said.

Brunei Times