Energy experts sound alarm over oil

AMMAN, July 20 (Xinhua) -- Energy experts cautioned here the fossil fuel of oil is facing the danger of exhaustion and that the world is in urgent need of developing alternative energy resources, local daily Jordan Times reported Sunday.

"Oil is finished, it's over with, it's done," said Paul Sullivan, economics professor with the National Defense University in Washington said during a seminar on energy, security and development at the University of Jordan.

Most of the major oil discoveries in the last century were made in the 1960s and 1970s, and any further discoveries will not come easy, he said.

"The next potential areas of oil will probably be in the Arcticor very deep water," said Sullivan, adding that the extractions under such conditions would be "very expensive."

In addition, he said political uncertainty in the world's current major oil producers, such as Nigeria's difficult political and economic situation, instability in the Gulf region and the disputed Iran nuclear issue, drives new energy innovation.

The expert said he believes, however, there is a silver lining in the recent hike in oil prices, adding that many engineers and inventors now focus on developing alternative energy resources in line of current surging energy cost.

Nawaf Tell, director of the Center for Strategic Studies with the University of Jordan, echoed Sullivan by saying that it is the time to look into energy alternatives.

In addition to the government's recent push towards nuclear power, Tell said Jordan's energy portfolio should include wind and solar energy as well as a renewed focus on energy efficiency.

Sullivan suggested oil-barren Jordan should consider an energy technology of "solar tower," a two-km-high concrete tower affixed with solar panels.

Using solar panels and massive wind vanes, wind generated by a temperature difference in the solar tower could generate enough electricity for 2 million people, he said, noting that applying such technology would cost the kingdom between 300 million to 500 million U.S. dollars.

Moreover, Sullivan said Jordan has another potential energy source, underground shale oil, which has the potential to produce some 40 billion barrels of oil.

Source: Xinhua Jul. 20, 2008