Environmental Engineering Reference
In-Depth Information
Table 4 List of top seven coal-producing countries in the world in 2012 (million tonnes oil equivalent (Mtoe))
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
China
775
917
1,061
1,175
1,264
1,346
1,401
1,487
1,618
1,758
1,825
USA
570
554
572
580
595
588
597
541
551
556
516
Australia
184
189
197
206
211
217
224
232
236
231
241
Indonesia
64
70
81
94
119
133
148
158
169
217
237
India
138
144
156
162
170
181
196
211
218
216
229
Russian
Federation
117
127
132
139
145
148
153
142
151
158
168
South Africa
124
134
137
138
138
140
142
141
145
142
147
Total world
2,402
2,573
2,781
2,942
3,101
3,211
3,324
3,354
3,543
3,759
3,845
Source : BP Statistical Energy Review ( 2013 )
(17.5 TCM, 9.3 %), USA (8.5 TCM, 4.5 %), and
Saudi Arabia (8.2 TCM, 4.4 %). India had
1.3 TCM with just 0.7 % of total proved reserve of
187.3 TCM.
Table 5 Spot price of natural gas and crude oil
Henry hub gulf
coast natural
gas spot price
($/MMBTU)
Cushing, OK
WTI spot
price FOB
($/bbl)
Europe
Brent spot
price FOB
($/bbl)
Date
and year
Jan 31,
2000
2.69
27.65
27.08
5.3
Price Fluctuations
of Fossil Fuel
Jan 31,
2001
5.83
28.62
26.59
Jan 31,
2002
2.28
19.71
19.07
Uneven spread of reserves and production of fos-
sil fuel coupled with consumption driven by
countries with limited fossil fuel lead to demand-
supply imbalance. Asia-Pacifi c and the USA are
the major demand centres of petroleum products,
especially crude oil. OPEC countries have natu-
ral monopoly and can control production and to a
great extent control prices of crude oil in the
international market. Despite the USA being one
of the largest producers of crude oil, it continued
to be a net importer of crude oil. Crude oil being
one of the largest traded commodities in the
global market is subjected to price fl uctuations.
In the recent past the price fl uctuations (Table 5 )
have been signifi cant, and most of the times these
fl uctuations are unpredictable as price fl uctua-
tions are not driven by fundamentals. Many
experts perceive that the sharp increases in the
real price of oil, especially in 2007/2008, could
be due to speculative trading and artifi cially
maintaining low level production and supply by
the producers. However, such price increases
may not be explained by any one popular percep-
tion. Such price increases could be better
Jan 31,
2003
5.58
33.51
31.57
Jan 30,
2004
5.8
33.16
29.53
Jan 31,
2005
6.14
48.25
44.51
Jan 31,
2006
8.73
67.86
63.19
Jan 31,
2007
7.76
58.17
56.52
Jan 31,
2008
8.1
91.67
91.58
Jan 30,
2009
4.77
41.73
44.17
Jan 29,
2010
5.26
72.85
71.2
Jan 31,
2011
4.42
90.99
98.97
Jan 31,
2012
2.51
98.46
110.26
Jan 31,
2013
3.33
97.65
115.55
Source : Compiled from www.eia.gov
Spot price data on January 31 for 2004, 2009 and 2010
was not available, so the latest available data has been pre-
sented in the table
 
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