Forecasting energy needs with logistics

Theodore Modis

Technological Forecasting and Social Change, 2019, vol. 139, issue C, 135-143

Abstract: The logistic function is used to forecast energy consumed worldwide and oil production in the U.S. The logistic substitution model is used to describe the energy mix since 1965 presenting a picture significantly different from the one covering the previous 100 years. In the new picture coal gently gains on oil and hydroelectric gains on natural gas even if it is three times smaller. Finally, renewables—wind, geothermal, solar, biomass, and waste—grow exclusively on the expense of nuclear, and are poised to overtake it by the late 2030s. By mid-21st century, coal, oil, and natural gas still remain the main players of comparable size. Hydroelectric has almost doubled in size. The only significant substitution is that of renewables having replaced nuclear albeit remaining at less than a ¼ the size of the other three energy sources. U.S. oil produced by fracking is forecasted to cease by mid-21st century, while oil produced by traditional methods should continue on its slowly declining trend. US oil production is likely to represent less than 1% of the oil consumed worldwide by mid-21st century.

Keywords: Energy consumption; Energy forecasts; Logistic function; Logistic substitution model; Oil production; Hydraulic fracturing (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0040162518313568
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:139:y:2019:i:c:p:135-143

DOI: 10.1016/j.techfore.2018.11.008

Access Statistics for this article

Technological Forecasting and Social Change is currently edited by Fred Phillips

More articles in Technological Forecasting and Social Change from Elsevier
Bibliographic data for series maintained by Catherine Liu ().