Monday, February 25, 2013

We're Back in Business!

The Energy Business...

Below, please find some of the definitions you'll need to review our production and consumption of non-renewable energy resources in terms of statistics.


Understanding Energy Statistics:

Reserves-to-production: the remaining amount of a non-renewable resource, expressed in years. While applicable to all natural resources, the RPR is most commonly applied to fossil fuels, particularly petroleum and natural gas. The reserve portion (numerator) of the ratio is the amount of a resource known to exist in an area and to be economically recoverable (proved reserves). The production portion (denominator) of the ratio is the amount of resource used in one year at the current rate.

Consumption:



Per Capita: a Latin prepositional phrase: per (preposition, taking the accusative case, meaning "by, by means of") and capita (accusative plural of the noun caput, "head"). The phrase thus means "by heads" or "for each head", i.e. per individual/person. The term is used in a wide variety of social sciences and statistical research contexts, including government statistics, economic indicators, and built environment studies.  It is commonly and usually used in the field of statistics in place of saying "for each person" or "per person".  

Rate:



B/D (Barrels per day): A measure of oil output, represented by the number of barrels of oil produced in a single day. For example, you might hear "country ABC has the potential to produce five million  barrels per day". The abbreviation "bbl/d" can also be used to represent this production measure.

Crude Oil:



Petroleum Products:



Petroleum:



Oil Refinery:




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