Oil Alternatives and Energy
Oil Alternatives - Background
"Even if we were to assume that... the next 20 years of global oil demand growth was flat... we would have to find and develop 4 new Saudi Arabias....we have to leave oil before oil leaves us."
"Dr. Faith Biron, chief economist at the International Energy Agency (IAE)"
Oil Dependence is a critical and urgent problem, globally and in Israel and must be addressed through what drives it – transportation
- Transportation constitutes approximately 80% of global crude oil demand
- Oil derived fuels constitute approximately 90% of the fuels that drive the world’s road vehicles.
- Oil demand for transportation is more rigid than for other purposes
- Every billion cubic meters of Natural Gas in Israel's transportation will save every year $370mm
- By 2025, we estimate that if Israel were to switch to 100% natural gas based transportation, approximately 9 BCM would be required each year to satisfy the demand. In that year, natural gas based transportation may save $8.5 billion every year on Israel oil bill compared to "business-as-usual"
Our work is driven by:
Israel’s Oil Alternatives Industry as an engine for economic growth
Optimizing resources for Israel’s energy infrastructure
Global geopolitical considerations
Global economics considerations