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Assessing China’s total conventional and unconventional oil production together puts its overall ‘peak oil’ date at 2018.The challenge is that China is simultaneously forecast to experience rapidly increasing oil demand, which would have to come from oil imports — dramatically impacting world oil markets.“…
Although these systems are attractive, they won’t bring Nigeria’s economy—or its youth—into the future.
Nigeria needs a high-energy grid system to power its factories and cities and to sustain a growing economy.
By 2045, Nigeria will be more populous than the United States, but the entire country currently produces less than one percent as much electricity.
A low-energy future—in which a youth bulge meets an underpowered economy that cannot create jobs—would be a security nightmare for both Nigeria and the United States.
An oil reserve is said to ‘peak’ when it reaches maximum production at a point when about half the reserve is depleted.
After this it becomes geophysically more difficult and economically more costly to extract from the reserve, leading production to gradually decline.
The study does not argue that peak oil means China is running out of fossil fuels — rather as conventional fossil fuels decline, there is an accelerating shift to more expensive unconventional fuels.
While these might exist in abundance, the economic costs of exploitation are far higher, leaving some economically unrecoverable.
The United States should partner with Nigeria to build such a system, which would stabilize one of Washington’s most important allies by helping it meet the economic needs and aspirations of its ballooning population.
Nigeria is the United States’ most important ally in sub-Saharan Africa. engagement with Nigeria has remained consistent and bipartisan in part because Nigeria is the linchpin to peace and prosperity in the broader region.