Klean Industries: Meeting the world's need for "Liquid Gold" through old tyres
|Klean Industries Featured in Plastics & Rubber Asia
Global economies are dependent on oil to run industries. A dysfunctional supply and demand chain may lead to an energy crisis.
Analysts say that escalating oil prices are a prelude to oil shortages. It is for this reason that the industry is seeking ways of deriving oil from varied, even unlikely, ways like tyre pyrolysis, says Angelica Buan in this report.
Fluctuating oil prices in the world market significantly impact daily lives. Amongst the first to sound the alarm is the International Monetary Fund (IMF) which says oil prices will skyrocket to US$105 a barrel this year. This followed an earlier apocalyptic forecast from the US that by 2015, the world will be short of nearly 10 million barrels/day of oil; and by 2030, the global production of only 100 million barrels/day will be way below the requirement of 118 million barrels/day.
Our oil reserves may never go back to the primeval 2 trillion barrel level but instead will continue to bottom out. According to a report from the International Energy Agency (IEA), countries like China and the US will require an additional 865,000 barrels/day just to meet their needs.
Anticipating the oil and energy crisis, several oil and gas companies are already charting remote geographic locations to extract oil. The downside to this is getting a pool of skilled workers. Yet other innovations are being considered, for instance, the US shale production for natural gas; using waste-to-energy methods to derive ethanol and biofuels, and organic oil substitutes from used tyres.
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