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SUSTAINABLE ENERGY IN LATIN AMERICA CARIBBEAN

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SUSTAINABLE ENERGY IN LATIN AMERICA CARIBBEAN ( sustainable-energy-in-latin-america-caribbean )

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with HDIs between 0.8 and 0.85, reported electricity consumption levels below 2 GWh/person/yr. For logical economic reasons, crude-oil companies focused for decades on the extraction of the easiest-to-reach, cheap crude oil. At first, oil was extracted near the surface of the ground. Typically, this oil was of the “light-and-sweet” type —i.e., oil very easy to refine into products such as unleaded gas and heating oil. However, during the last three decades, the global rate of new oil fields discov- ery has been lower than the actual consumption rate. In recent years, new proven reserves account only for 27 percent of the actual consumption. Energy consumption and use efficiency vary dramatically in different parts of the world. In 2005, global annual per-capita average energy consumption (i.e., excluding traditional biomass and waste) was 1 519 kg of oil equivalent (kgoe). While high-income countries average 5 228 kgoe, low-income countries only Table 1. Crude oil statistics related to oil peaks Measurement Measure Estimated overall oil reserves Produced to dateha Reserves Discovered to date Yet to find Yet to produce Ultimate recovery Current consumption rate Current discovery rate Current depletion rate (ann. prod. as a % of Yet to produce) 3 000 Gb 873 Gb 928 Gb 1 801 Gb 149 Gb 1 077 Gb 1 950 Gb 22 Gb/año 6 Gb/año 2% Source: Colin J. Campbell (http://greatchange.org/ov-campbell.outlook.html) 22 SUSTAINABLE ENERGY IN LATIN AMERICA AND THE CARIBBEAN: POTENTIAL FOR THE FUTURE

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