Energy accounting is a system used to measure and report the energy consumption of different activities on a regular basis. This is done to improve energy efficiency, to monitor the environment impact of energy consumption. Energy accounting is a system used in energy management systems to measure and analyze energy consumption to improve energy efficiency within an organization. Organisations such as Intel corporation use these systems to track energy usage. Various energy transformations are possible. An energy balance can be used to track energy through a system; this becomes a useful tool for determining environmental impacts. How much energy is needed at each point in a system is measured, as well as the form of that energy. An accounting system keeps track of energy in, energy out, non-useful energy versus work done, transformations within a system. Sometimes, non-useful work is what is responsible for environmental problems. Energy returned on energy invested is the ratio of energy delivered by an energy technology to the energy invested to set up the technology.
Accounting: Facility Energy Use Energy accounting in the context of environmental accounting
Shell Oil Company
Shell Oil Company is the United States-based wholly owned subsidiary of Royal Dutch Shell, transnational corporation "oil major" of Anglo-Dutch origins, amongst the largest oil companies in the world. 22,000 Shell employees are based in the U. S; the U. S. headquarters are in Texas. Shell Oil Company, including its consolidated companies and its share in equity companies, is one of America's largest oil and natural gas producers, natural gas marketers, gasoline marketers and petrochemical manufacturers. Shell is the market leader through 25,000 Shell-branded gas stations in the U. S. which serve as Shell's most visible public presence. At its gas stations Shell provides diesel fuel, gasoline and LPG. Shell Oil Company was a 50/50 partner with the Saudi Arabian government-owned oil company Saudi Aramco in Motiva Enterprises, a refining and marketing joint venture which owns and operates three oil refineries on the Gulf Coast of the United States. However, Shell is divesting its interest in Motiva.
Shell products include oils and car services as well as exploration and refining of petroleum products. The Shell Oil Refinery in Martinez, the first Shell refinery in the United States, supplies Shell and Texaco stations in the West and Midwest. Shell gasolines included the RU2000 and SU2000 lines but they have been superseded by the V-Power line. In 1997, Shell and Texaco entered into two refining/marketing joint ventures. One was known as Equilon; the other, known as Motiva Enterprises, combined the Eastern and Gulf Coast operations of Shell Oil and Star Enterprise, itself a joint venture between Saudi Aramco and Texaco. After Texaco merged with Chevron in 2001, Shell purchased Texaco's shares in the joint ventures. In 2002, Shell began converting these Texaco stations to the Shell brand, a process, to be completed by June 2004 and was called "the largest retail re-branding initiative in American business history". In the year 2016, Shell Nederland Raffinaderij BV said that it has started a new aromatics unit at the large Pernis refinery in Rotterdam, Netherlands.
In recent years The Shell Oil Company's Midstream, Downstream, in particular, have become limited to petroleum, chemical products. This has come as a result of Royal Dutch Shell breaking off its Natural Gas and power businesses in to a new segment named Integrated Gas; the Shell Oil Company's former Natural Gas, energy divisions are now Shell Energy North America, a integrated, but distinctive entity that runs across North America and is headquartered out of Houston. Until the mid-1980s Shell's business in the United States was independent. Limited direct involvement from the main office in The Hague and having its stock "Shell Oil" traded on the New York Stock Exchange were factors. However, in 1984, Royal Dutch Shell made a bid to purchase those shares of Shell Oil Company it did not own and despite some opposition from some minority shareholders which led to a court case, Shell completed the buyout for a sum of $5.7 billion. Despite the acquisition, Shell Oil remained a independent business.
This was due in part to complex legal reasons as Royal Dutch Shell feared that there could be onerous liability problems if a closer control of Shell Oil's affairs was exercised by the "parent company". One consequence of this independence was that the Shell logo used in the U. S. was different from that used in the rest of the world. In the 1980s Shell Oil's independence began to erode as the "parent company" took a more hands-on approach in running the business; the logo used in the United States is the same as that used elsewhere since June 1, 1998. Shell has companies in North and Central America: in Argentina, Barbados, the Bahamas, Brazil, Chile, Costa Rica, The Dominican Republic, Guatemala, Mexico, Panama, Puerto Rico, Suriname and Tobago, the U. S. and Venezuela. Shell has companies in Africa, the Middle East, Asia. Aera Energy —joint venture with ExxonMobil operating in California. Motiva Enterprises —joint venture with Saudi Refining. Being divested, with the second quarter of 2017 being the official date.
Shell Development Emeryville —research facility that operated from 1928–1966 in California. Pennzoil Jiffy Lube Quaker State Limejump Shell Puget Sound Refinery, Washington, was fined $291,000 from 2006 to 2010 for violations of the Clean Air Act making it the second most-fined violator in the Pacific Northwest; as of 2011, it was listed as "high priority violator" since 2008. In 2008, a lawsuit was filed against Shell Oil Company for alleged Clean Air Act violation. Shell Deer Park facility, 20 miles east of Houston, was the nation's eighth-largest oil refinery and one of the world's largest petrochemical producers; the facility was the second largest source of air pollution in Harris County, which ranked among the lowest in the nation in several measures of air quality. According to Sierra Club and Environment Texas, analysis of Shell's reports to the Texas Commission on Environmental Quality, air pollutants released at Deer Park since 2003 exceeded the EPA's emissions limits. Will Oremus from Slate magazine states, "The company's business depends on being able to anticipate and respond to seismic shifts in the energy market.
So it called scenario planners, to keep it a step ahead. In 2008 the company released a fresh pair of scenarios for how the world might respond to climate change over the coming decades. Both were predicated on what the company called
The term Peak coal is used to refer to the point in time at which coal production and consumption reaches its maximum, after which, it is assumed and consumption will decline steadily. The term was used in connection with M. King Hubbert's Hubbert peak theory, in which the finite nature of the resource determines a constraint on production. However, since the expansion of renewable energy in electricity generation, the term is now used with reference to a peak in coal demand, which may have occurred. According to M. King Hubbert's Hubbert peak theory, peak coal is the point in time at which the maximum global coal production rate is reached, after which, according to the theory, the rate of production will enter a terminal decline. Coal is a fossil fuel formed from plant matter over the course of millions of years, it thus considered to be a non-renewable energy source. There are two different possible peaks: one measured by another by energy output; the world average heat content per mass of mined coal rose from 8,020 BTU/lb. in 1989 to 9,060 BTU/lb. in 1999.
Since 1999, the world average heat content of mined coal has been steady, was 9,030 BTU/lb. in 2011. The estimates for global peak coal extraction vary wildly. Many coal associations suggest the peak could occur in 200 years or more, while scholarly estimates predict the peak to occur as soon as the immediate future. Research in 2009 by the University of Newcastle in Australia concluded that global coal extraction could peak sometime between the present and 2048. A 2007 study by the German Energy Watch Group predicted that global peak coal extraction may occur sometime around 2025 at 30 percent above the 2005 rate; the contemporary concept of peak coal follows from Hubbert peak theory, most associated with peak oil. Hubbert concluded that each oil nation has a bell-shaped depletion curve. However, this question was raised by William Stanley Jevons in his book The Coal Question in 1865. Hubbert noted that United States coal extraction grew exponentially at a steady 6.6% per year from 1850 to 1910.
The growth leveled off. He concluded. At some point, the rate of extraction will have to peak and decline until the resource is exhausted, he theorized that extraction rate plotted versus time would show a bell-shaped curve, declining as as it had risen. Hubbert used his observation of the US coal extraction to predict the behavior of peak oil; the Hubbert linearization using yearly production rates has weaknesses for peak coal calculation, as the signal-to-noise ratio is inferior with coal mining data compared to oil extraction. As a consequence, Rutledge uses cumulative production for linearization. By this method the estimated ultimate recovery results in a stable fit for active coal regions; the ultimate production for world coal is estimated to be 680 Gt, of which 309 Gt have been produced. However, in 2013 the World Coal Association reported that two different estimates of coal reserves remaining were 1038 and 861 Gt. Although reserves of coal remain abundant, consumption of coal has declined in many countries.
In 2016 Scotland closed its last coal-fired power plant. This decline has resulted from the replacement of coal-fired electricity by gas and renewable energy, along with the decline of the steel industry in some countries; as a result, the term "peak coal" is now used to refer to a peak and subsequent decline in global and national coal consumption. In 2016 experts estimated that China, the world's largest coal consumer, reached peak coal in 2013, that the world may have passed peak coal. However, in 2017, for the first time in four years, demand for coal rose; as of 2015, China accounted for 50.0 percent of world coal consumption. Chinese coal consumption fell in 2014 and 2015; the last previous decline in Chinese coal consumption had been in 1997 and 1998. While consumption in China and the United States declined in 2015, that of India continued to rise and, in 2015, India surpassed the United States and became the world's second-largest consumer of coal; as of 2011, the top coal-extracting countries were China, United States, India and Indonesia.
Four out of five of these largest coal-extracting countries, the exception being the United States, had experienced significant increases in coal extraction over the previous decade. The People's Republic of China is the world’s largest coal extractor and has the third largest reserves after Russia and the United States; the Energy Watch Group predicted that the Chinese extraction will peak around 2015 in their 2007 report, revised that to 2020 in their March 2013 report. The EWG predicts that the recent steep rise in extraction will be followed by a steep decline after 2020. Another study puts the peak at 2027; the US Energy Information Administration projects that China coal extraction will continue to rise until 2030. Although Hubbert's analysis in 1956 projected total extraction to peak in about 2150, records show that extraction reached an energy peak in 1998 and a tonnage peak in 2008. US coal extraction peaked during World War I declined during the depression years of the 1930s. Coal extraction peaked again in the 1940s declined during the 1950s.
Coal extraction revived, was on a nearly continual increasing trend from 1962 to 2008, exceeding the previous peaks. Extraction in 2008 was a record 1.17 billion short tons. High-BTU anthracite coal peaked in 1914. Bituminous coal extraction has been declining since 1990
M. King Hubbert
Marion King Hubbert was an American geologist and geophysicist. He worked at the Shell research lab in Texas, he made several important contributions to geology and petroleum geology, most notably the Hubbert curve and Hubbert peak theory, with important political ramifications. He was referred to as "M. King Hubbert" or "King Hubbert". Hubbert was born in Texas, he attended the University of Chicago, where he received his B. S. in 1926, his M. S. in 1928, his Ph. D in 1937, studying geology and physics, he worked as an assistant geologist for the Amerada Petroleum Company for two years while pursuing his Ph. D. additionally teaching geophysics at Columbia University. He served as a senior analyst at the Board of Economic Warfare, he joined the Shell Oil Company in 1943, retiring from that firm in 1964. After he retired from Shell, he became a senior research geophysicist for the United States Geological Survey until his retirement in 1976, he held positions as a professor of geology and geophysics at Stanford University from 1963 to 1968, as a professor at UC Berkeley from 1973 to 1976.
Hubbert was an avid technocrat. He co-founded Technocracy Incorporated with Howard Scott. Hubbert wrote a study course, published without attribution called the Technocracy Study Course, which advocates a non-market economics form of energy accounting, in contrast to the current price system method. Hubbert was a member of the board of governors, served as secretary of education in that organization. Hubbert made several contributions to geophysics, including a mathematical demonstration that rock in the earth's crust, because it is under immense pressure in large areas, should exhibit plasticity, similar to clay; this demonstration explained the observed results. He studied the flow of underground fluids. Based on theoretical arguments, Hubbert proposed a constitutive equation K a b s = N D 2 for absolute permeability K a b s of an underground water or oil reservoir where D is the average grain diameter and N is a dimensionless proportionality constant. However, Kozeny proposed a constitutive equation for absolute permeability which contains Hubbert's proposal as a factor.
Hubbert presented a force potential, denoted Φ or Φ h, that bears his name: Φ = ∫ P r e f P d P ρ − g z ⟹ ∇ Φ h = 1 ρ ∇ P − g ∇ z Some years Hubbert showed that Darcy's law can be derived from the Navier-Stokes equation of motion of a viscous fluid. Hubbert is best known for his studies on the size of oil fields and natural gas reserves, the limits these impose on rates of oil and gas production, he predicted that, for an oil-producing area, from an oil-producing province, a nation, or the planet as a whole, the rate of petroleum production of the reserve over time would resemble a bell curve. Based on his theory, he presented a paper to the 1956 meeting of the American Petroleum Institute in San Antonio, which predicted that overall petroleum production would peak in the United States between 1965, which he considered most and 1970, which he considered an upper-bound. At first his prediction received much criticism, for the most part because many other predictions of oil capacity had been made over the preceding half century, but these had been based on the reserves-to-production ratio, had not taken into account future discoveries, had proven false.
Hubbert became famous when U. S. oil production began to decline, as he had predicted. In 1974, Hubbert projected that global oil production would peak in 1995 "if current trends continue". Various subsequent predictions have been made by others as trends have fluctuated in the intervening years. Hubbert believed that solar power would be a practical renewable energy replacement for fossil fuels, that nuclear energy in breeder reactors would be able to sustain us for centuries, he states that "provided world population can somehow be brought under control, we may at last have found an energy supply adequate for our needs for at least the next few centuries of the'foreseeable future'." Hubbert's contributions to science have been summarized as follows: Mathematical demonstration that rock in the earth's crust is plastic, that the earth's crust deforms over time. Prediction of migration paths of hydrocarbons. Predictions of peak rates of oil and gas production, based on a consistent mathematical model which ties reserves, discovery rates, production rates.
His model remains influential, has been applied to other finite resources. Fisheries: At least one researcher has attempted to perform Hubbert linearization on the whaling industry, as well as charting the transparently dependent price of caviar on sturgeon depletion; the Atlantic northwest cod fishery was a renewable resource, but the numbers of fish taken exceeded the fish's rate of recove
Whaling is the hunting of whales for their usable products such as meat and blubber, which can be turned into a type of oil which became important in the Industrial Revolution. It was practiced as an organized industry as early as 875 AD. By the 16th century, it had risen to be the principle industry in the coastal regions of Spain and France; the industry spread throughout the world, became profitable in terms of trade and resources. Some regions of the world's oceans, along the animals' migration routes, had a dense whale population, became the targets for large concentrations of whaling ships, the industry continued to grow well into the 20th century; the depletion of some whale species to near extinction led to the banning of whaling in many countries by 1969, to a worldwide cessation of whaling as an industry in the late 1980s. The earliest forms of whaling date to at least circa 3000 BC. Coastal communities around the world have long histories of subsistence use of cetaceans, by dolphin drive hunting and by harvesting drift whales.
Industrial whaling emerged with organized fleets of whaleships in the 17th century. By the late 1930s more than 50,000 whales were killed annually. In 1986, the International Whaling Commission banned commercial whaling because of the extreme depletion of most of the whale stocks. Contemporary whaling is subject to intense debate. Countries that support commercial whaling, notably Iceland and Norway, wish to lift the ban on certain whale stocks for hunting. Anti-whaling countries and environmental groups oppose lifting the ban. Under the terms of the IWC moratorium, aboriginal whaling is allowed to continue on a subsistence basis. Over the past few decades, whale watching has become a significant industry in many parts of the world; the live capture of cetaceans for display in aquaria continues. Whaling began in prehistoric times in coastal waters; the earliest depictions of whaling are the Neolithic Bangudae Petroglyphs in Korea, which may date back to 6000 BC. These images are the earliest evidence for whaling.
Although prehistoric hunting and gathering is considered to have had little ecological impact, early whaling in the Arctic may have altered freshwater ecology. Early whaling affected the development of disparate cultures – such as Norway and Japan, both of which continue to hunt in the 21st century; the Basques were the first to catch whales commercially, dominated the trade for five centuries, spreading to the far corners of the North Atlantic and reaching the South Atlantic. The development of modern whaling techniques was spurred in the 19th century by the increase in demand for whale oil, sometimes known as "train oil", in the 20th century by a demand for margarine and whale meat. Many countries which once had significant industries, such as the Netherlands and Argentina, ceased whaling long ago, so are not covered in this article; the primary species hunted are minke whales,belugas and pilot whales. Which are some of the smallest species of whales. There are smaller numbers killed of gray whales, sei whales, fin whales, bowhead whales, Bryde's whales, sperm whales and humpback whales.
Recent scientific surveys estimate a population of 103,000 minkes in the northeast Atlantic. With respect to the populations of Antarctic minke whales, as of January 2010, the IWC states that it is "unable to provide reliable estimates at the present time" and that a "major review is underway by the Scientific Committee."Whale oil is used little today and modern whaling is done for food: for pets, fur farms, sled dogs and humans, for making carvings of tusks and vertebrae. Both meat and blubber are eaten from narwhals and bowheads. From commercially hunted minkes, meat is eaten by humans or animals, blubber is rendered down to cheap industrial products such as animal feed or, in Iceland, as a fuel supplement for whaling ships. International cooperation on whaling regulation began in 1931 and culminated in the signing of the International Convention for the Regulation of Whaling in 1946, its aim is to: provide for the proper conservation of whale stocks and thus make possible the orderly development of the whaling industry.
The International Whaling Commission was set up under the ICRW to decide hunting quotas and other relevant matters based on the findings of its Scientific Committee. Non-member countries conduct their own management programs, it regulates hunting of 13 species of great whales, has not reached consensus on whether it may regulate smaller species. The IWC voted on July 23, 1982, to establish a moratorium on commercial whaling of great whales beginning in the 1985–86 season. Since 1992, the IWC's Scientific Committee has requested that it be allowed to give quota proposals for some whale stocks, but this has so far been refused by the Plenary Committee. At the 2010 meeting of the International Whaling Commission in Morocco, representatives of the 88 member states discussed whether or not to lift the 24-year ban on commercial whaling. Japan and Iceland have urged the organisation to lift the ban. A coalition of anti-whaling nations has offered a compromise plan that would allow these countries to continue whaling, but with smaller catches and under close supervision.
Their plan would completely ban whaling in the Southern Ocean. More than 200 scientists and experts have
Cod is the common name for the demersal fish genus Gadus, belonging to the family Gadidae. Cod is used as part of the common name for a number of other fish species, some species suggested to belong to genus Gadus are not called cod; the two most common species of cod are the Atlantic cod, which lives in the colder waters and deeper sea regions throughout the North Atlantic, the Pacific cod, found in both eastern and western regions of the northern Pacific. Gadus morhua was named by Linnaeus in 1758. Cod is popular as a food with a mild flavour and a dense, white flesh. Cod livers are processed to make cod liver oil, an important source of vitamin A, vitamin D, vitamin E, omega-3 fatty acids. Young Atlantic cod or haddock prepared in strips for cooking is called scrod. In the United Kingdom, Atlantic cod is one of the most common ingredients in fish and chips, along with haddock and plaice. At various times in the past, taxonomists included many species in the genus Gadus. Most of these are now either classified in other genera, or have been recognized as forms of one of three species.
All these species have a number of common names, most of them ending with the word "cod", whereas other species, as related, have other common names. However, many other, unrelated species have common names ending with cod; the usage changes with different localities and at different times. Three species in the genus Gadus are called cod: Cod forms part of the common name of many other fish no longer classified in the genus Gadus. Many are members of the family Gadidae; the tadpole cod family has now been placed in Gadidae. Gadiformes include: Some fish have common names derived from "cod", such as codling, codlet or tomcod; some fish known as cod are unrelated to Gadus. Part of this name confusion is market-driven. Shrunken Atlantic cod stocks have led to the marketing of cod replacements using culinary names of the form "x cod", according to culinary rather than phyletic similarity; the common names for the following species have become well established. PerciformesFish of the order Perciformes that are called "cod" include: Blue cod Parapercis colias Eastern freshwater cod Maccullochella ikei Mary River cod Maccullochella peelii mariensis Murray cod Maccullochella peelii peelii Potato cod Epinephelus tukula Sleepy cod Oxyeleotris lineolatus Trout cod Maccullochella macquariensis The notothen family, including: Antarctic cod Dissostichus mawsoni Black cod Notothenia microlepidota Maori cod Paranotothenia magellanicaRock cod, reef cod, coral codAlmost all coral cod, reef cod or rock cod are in order Perciformes.
Most are better known as groupers, belong to the family Serranidae. Others belong to the Nototheniidiae. Two exceptions are the Australasian red rock cod, which belongs to a different order, the fish known as the rock cod and as soft cod in New Zealand, Lotella rhacina, which as noted above is related to the true cod. ScorpaeniformesFrom the order Scorpaeniformes: Ling cod Ophiodon elongatus Red rock cod Scorpaena papillosa Rock cod SebastesOphidiiformesThe tadpole cod family and the Eucla cod family, were classified in the order Ophidiiformes, but are now grouped with the Gadiformes; some fish that do not have "cod" in their names are sometimes sold as cod. Haddock and whiting belong to the Gadidae, as cod. Haddock Melanogrammus aeglefinus Whiting Merlangius merlangus Cods of the genus Gadus have three rounded dorsal and two anal fins; the pelvic fins are small, with the first ray extended, are set under the gill cover, in front of the pectoral fins. The upper jaw extends over the lower jaw; the eyes are medium-sized the same as the length of the chin barbel.
Cod have a distinct white lateral line running from the gill slit above the pectoral fin, to the base of the caudal or tail fin. The back tends to be a greenish to sandy brown, shows extensive mottling towards the lighter sides and white belly. Dark brown colouration of the back and sides is not uncommon for individuals that have resided in rocky inshore regions; the Atlantic cod can change colour at certain water depths. It has two distinct colour phases: reddish brown, its average weight is 5 -- 12 kilograms. Pacific cod are darker in colour. Atlantic cod live in deeper sea regions throughout the North Atlantic. Pacific cod is found in both western regions of the Pacific. Atlantic cod divide into several stocks, including the Arcto-Norwegian, North Sea, Iceland, East Greenland, West Greenland and Labrador stocks. There seems to be little interchange between the stocks, although migrations to their individual breeding grounds may involve distances of 200 miles or more. Atlantic cod occupy varied habitat, favouring rough ground inshore, are demersal in de
According to M. King Hubbert's Hubbert peak theory, peak gas is the point in time at which the maximum global natural gas production rate will be reached, after which the rate of production will enter its terminal decline. Natural gas is a fossil fuel formed from plant matter over the course of millions of years, it thus considered to be a non-renewable energy source. The concept of peak gas follows from Hubbert peak theory, most associated with peak oil. Hubbert saw gas and oil as natural resources, each of which would peak in production and run out for a region, a country, or the world. Since Hubbert's initial predictions in 1956, "the proper application of more powerful statistical techniques has reduced much of the uncertainty about the supply of oil and natural gas". One view in 1997 was that Hubbert's use of an exponential decline model was statistically adequate in explaining real world data. However, longer-term experience has shown the predictions to be incorrect; the world gets one quarter of its energy from natural gas.
The consumption of natural gas has nearly doubled in the last 30 years. The most important energy agencies in the world are forecasting increases in natural gas demand in the next 20 years; the largest increments in future gas demand are expected to come from developing countries. Hubbert’s original peak theory predicts that natural gas will experience three spaced events: first, the rate of discoveries will peak X years reserves will peak, X years after peak reserves, gas production will peak at the same rate as the previous peak of discoveries. For the United States, for instance, Hubbert projected that the natural gas discovery rate was peaking in 1962 at about 20 trillion cubic feet per year. From his curves, he predicted that proved reserves would peak eight years in 1970, that production would peak after another eight years, in 1978, at 20 trillion cubic feet per year, about equal to the rate of peak discoveries. Of the three peaks, Hubbert found the peak in discoveries most difficult to define, because of large year-to-year scatter, the phenomenon of “reserve growth.”
Initial estimates of a discovery are much lower than ultimate recovery if the conservative estimate of proven reserves is the measure. As the discovery is drilled out, estimates rise. Sometimes estimates of recoverable oil and gas in a discovery continue to rise for many years after the discovery. To find the peak in discoveries, Hubbert backdated reserve growth to the date of field discovery. According to David L. Goodstein, the worldwide rate of discovery peaked around 1960 and has been declining since. Exxon Mobil Vice President, Harry J. Longwell places the peak of global gas discovery around 1970 and has observed a sharp decline in natural gas discovery rates since then; the rate of discovery has fallen below the rate of consumption in 1980. The gap has been widening since. Declining gas discovery rates foreshadow future production decline rates because gas production can only follow gas discoveries. Despite the reported fall in new-field discoveries, world proved reserves of natural gas have continued to grow, from 19 billion cubic meters in 1960, 45 bcm in 1970 and 84 bcm in 1980, to a record high 200 bcm in 2012.
A researcher for the US Energy Information Administration pointed out that after the first wave of discoveries in an area, most oil and natural gas reserve growth comes not from discoveries of new fields, but from extensions and additional gas found within existing fields. Dr. Anthony Hayward CCMI, chief executive of BP stated in October 2009 that proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years' supply if consumption is non-increasing, that gas reserves are trending upward. A similar situation exists with oil reserves in that they have increased despite the actual declines of worldwide discoveries for decades and despite increases in consumption. BP’s former Chief Petroleum Engineer Jeremy Gilbert stated in 2007 that the growth in oil reserves "results from distortions created by the..reporting rules of the US Securities and Exchange Commission" that force companies to be overly conservative in their calculation of reserves, but that "even this illusory growth is unlikely to last," because fewer oil reserves are coming under the control of SEC-regulated companies.
However, since Gilbert's statement, proven reserves of both oil and gas have continued to rise, proven oil reserves increasing 23%, from 1.20 trillion barrels in 2007, to 1.48 trillion barrels in 2012. Italy's gas consumption is presently third-highest in Europe, behind only Germany and the United Kingdom. Gas consumption is growing at a steady rate, gas consumption in 2001 was 50% greater than it was in 1990. Italy’s major oil and gas company is Eni. State-owned, it was privatized during the 1990s, but the government still retains around one-third of the shares. Natural gas reserves in Italy were 164 billion m3 at the beginning of 2007. Natural gas production in 2005 was 11.5 billion m3, while consumption was 82.6 billion m3. The difference was imported; the primary sources of imported gas are Algeria and the Netherlands. The Netherlands government has stated that peak gas occurred in 2007–2008 and the country will have become a net importer of natural gas by 2025. Natural gas in Romania was discovered in 1909 in the Sărmăşel area.
In 1917, Turda became. Maximum production of 29.8 billion m3 was achieved in 1976. Today, gas provides about 40% of the country's energy needs. Gazprom, Russia's state-controlled gas monopoly, is a firm which holds 25% of the world's gas rese