Energy Key Findings: December 2012

Report Cites How Information Technology is Radically Reshaping the Energy Industry

According to a recent report by Deloitte Center for Energy Solutions, an energy revolution is taking place globally and in the U.S. thanks to cutting-edge information technology that is transforming energy companies into the most sophisticated companies in the world. Thanks to sometimes stunning breakthroughs and application of this technology, not only is innovation changing the game for exploration, it is also enabling energy management systems and efforts to significantly impact energy demand, while the renewable and alternative energy markets evolve at a record pace. For example, the renewable energy market is expected to reach $800 billion by 2015 and to generate 17% of the world’s electricity by 2030. Yet, the economic, environmental and geopolitical consequences of this technology transformation is where the real change is taking place and dramatically reshaping the global energy map beyond anything anyone could have predicted. North America’s massive shale gas and oil reserves, combined with the technological innovations that unlock their potential, are inspiring many to consider the prospect of energy independence for the United States in the not too distant future.

Bullets

• Today less than 1% of cars driving American roads are fully electric; in 1900, 34% of cars in New York, Boston and Chicago were powered by electric motors. (NY Times)
• Oil Exploration and Production activity in the Gulf of Mexico since the Macondo incident has rebounded in 2012; more than US$20 billion will be spent drilling development wells through 2015. (Oil & Gas Financial Journal http://bit.ly/T8vAKS)
• Deepwater Gulf of Mexico E&P is expected to attract US$70 billion investment in the region by 2030, more than all other deepwater provinces combined, creating about US$30 billion of value. (Oil & Gas Financial Journal http://bit.ly/T8vAKS)
• The U.S. Nuclear Regulatory Commission has received 18 combined lisence applications for 28 new reactor units as of June 2012; only two have been approved: two units at Georgia’s Vogtle site and two units at South Carolina’s V.C. Summer site. (U.S. Nuclear Regulatory Commission)

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