Laurie Weston presented a brief history of oil and gas and projected into the future.
Laurie started out in Shell Canada and the UK, then Nexen Consulting. She also co-founded Sounds QI, an integrated reservoir characterization. She has also co-founded Big Media which uses Data Science to provide information for the general public.
Climate change is real and has occurred over the millennia. At one point, the ice sheet over Calgary was 1.5 km thick and since then, the earth has warmed and the ice has retreated. When the ice was thick, the seas were low and people came over the land bridge. Human beings have always needed ENERGY.
Energy use has increased around the world. In Canada, we use oil, natural gas and hydro. Emissions from carbon-based energy sources cause a speeding up of climate change. Demand is there for renewables but the market share is small. Coal is the worst cause of C02 emissions. The use of coal is decreasing in 'first world' countries; but, continues in developing countries. China, India and Russia use 27% of total coal in the world. Canada only uses 3% of the world coal so any actions we take will have a negligible impact; but, Canada can lead by example.
The challenge of renewables is that they are real time energy. The costs to produce are coming down; but, storage is a problem. Fossil fuels are much easier to store.
To conclude, we need to:
- Reduce C02 emissions
- Protect the rest of the environment
- Lift the world from energy and economic poverty
Solutions, according to Dr. Scott Tinker in Texas:
- Switch from coal to gas.
- Accelerate efficiency (i.e. use less)
- Create an optimum mix from all energy sources
The need for energy will continue to increase, especially from the 'Third World' countries. Natural Gas will dominate.
There were numerous questions and Laurie stayed after the meeting to answer more questions about lithium batteries, direct carbon capture, the effect of the oil industry decline on the Canadian economy, China and Russia continuing to construct coal plants, the potential of hydrogen, geothermal and other sources of energy.
Paulette Marsollier thanked Laurie for her excellent and informative presentation.