The Petroleum Exploration and Production Association of New Zealand (PEPANZ) says a report released this week by the International Energy Agency (IEA) shows oil and gas will continue to be the cornerstone of the world’s energy supply, with demand for both forecast to increase over the next 25 years.
PEPANZ Chief Executive Cameron Madgwick says the IEA’s World Energy Outlook 2016 forecasts consumption of natural gas to grow by 50 percent by 2040, with oil demand growing at a slower rate, but still reaching 103 million barrels per day by 2040.
“Together oil and gas will make up over half of the world’s energy consumption in 2040,” says Mr Madgwick.
“While renewable energy will see the fastest growth over the next 25 years, energy demand around the world will also increase by around a third over the same period, meaning we will need to increase the use of all energy sources to meet our needs.
“While the number of electric cars will continue to grow, demand for oil will be driven in the growth of the freight, aviation and petrochemical sectors, where alternatives are scarce.
“The IEA also suggests that an oil shortfall could begin to emerge in the early 2020s because of the current low levels of global exploration resulting from the low oil prices experienced over the last two years. This will inevitably lead to a marked increase in the price of oil.”
Mr Madgwick says New Zealand could be well positioned to help meet the world’s future energy demands while growing our economy
“New Zealand is underexplored by world standards, and we are currently only producing from one of our sedimentary basins – Taranaki,” says Mr Madgwick.
“While we need to be cautious, international interest in New Zealand’s oil and gas potential is strong and exploration activities are occurring in a number of locations around the country.
“A significant find could result in billion dollars of both new investment and export earnings, as well as significant increase in royalties paid to the government, helping fund essential infrastructure and social services, while also increasing the size of our economy and our living standards.
A PwC survey of 1100 CEOs from the 21 APEC economies has revealed the recent US election may not be as bad for businesses as first thought.
New Zealand's trade relationship with the US may now be up in the air, but businesses leaders around the world are telling a story that could be good news for our exporters, finance firm PwC says.
The company has just released its survey of 1100 CEOs from the 21 APEC economies in the lead-up to the Asia-Pacific Economic Cooperation summit in Lima this week.
It found in the long-term 69 per cent of increased business investment is expected to stay within APEC countries, with China, the US, Singapore and Indonesia are set to attract the most.
Over half of businesses in the survey also said they planned to increased their overseas investment, despite reporting concerns about the broader economic outlook and disappointment with progress on free trade.
PwC Treasury Advisory's Roger Kerr said while New Zealand's trade relationship with the US was now in the air following November's presidential election, exporters faced higher risk, the the survey showed consequences could be less serious than believed.
"Early indications are that trade policies will suffer from a more inwards looking Trump administration and New Zealand businesses exporting to the US will want to watch this space very careful," he said.
"However, I wouldn't worry too much just yet. To put our current growth prospects into perspective, the New Zealand findings in the last Annual CEO Survey showed that local CEOs think Australia will still be their most important trading partner, followed by China and then the US."
He said the survey revealed APEC businesses leaders were still looking towards growth in China, despite concerns the world's second biggest economy would be slowing down.
"This could turn into an opportunity with even greater benefit for New Zealand," he said.
"China is transitioning the focus of its economic growth from infrastructure capital spending to more consumer-based products and this is good news as well as a low risk option for New Zealand."
Nov. 17, 2016 / PRZen / SAN JOSE, Calif. -- RaceAmerica Corporation, world leaders in solutions for Track Safety lighting, Race Timing, LED Scoreboards and Race Management Software, celebrates 25 years of providing customers around the world with state of the art technology by announcing a strategic partnership with ALM Sales Pty Ltd of Melbourne Australia.
ALM Sales Pty Ltd will partner with RaceAmerica to provide representation and engineering expertise in the Australian and New Zealand region.
The team at ALM Sales Pty Ltd, headed by well-known and respected racing identity and "Mr Dunlop" of Karting, Les May, brings over 35 years' experience in motorsport, not only as a highly credited driver but also one of Australia's largest distribution networks and a strong engineering design and manufacturing ability.
Through this partnership, ALM Sales Pty Ltd will provide the important local link between Australian and New Zealand customers and RaceAmerica.
"ALM Sales is a well-established company with a strong reputation in the Australia and New Zealand racing industry. The support and assistance provided to Karting Australia demonstrate their in-depth knowledge of technology, and high levels of customer service and support. This makes ALM Sales an ideal partner as we grow in this market. With ALM Sales providing a local presence, customers will receive a higher level of support with RaceAmerica products," said Dennis Laczny, President of RaceAmerica.
Les May explains, "We see ourselves as the feet on the ground in this region where we can react quickly and effectively to customers' questions, inquiries and requirements, provide assistance and engineering expertise with installation and, of course, back up the RaceAmerica products with local service and technical support."
As is the case with all the products distributed or supported by ALM Sales, product quality and support, along with customer service, are of paramount importance.
Les May reiterated, "We do not enter into partnerships or distribution arrangements with just anybody, or take on products that are not backed by honest, reputable and well established manufacturers. We have been in business for over 35 years and have grown one of the strongest platforms in motorsport by providing our customers the absolute best products and aftersales service, second to none. RaceAmerica's state of the art technology and 25 years of experience in the motorsports industry is a perfect fit for us with expansion of our business that now includes clubs, associations, circuits and track owners."
ALM Sales and RaceAmerica now offer a strong, viable, well supported future proof solution for Track Safety lighting, Race Timing, LED Scoreboards and Race Management Software in Australia and New Zealand.
Was too busy to pick up award from Governor General
| Napier-MSCNewsWire-18 Nov 16 | Bob Dylan is too busy to meet the Nobel Prize committee to pick up his Nobel Prize. He has, instead, he claims “other engagements.”
The musician's determination to stick to his routine will remind New Zealand provincial historians of a similar business-as-usual determination in the face also of the collection of an award.
The local incident similarly involved a notable, this time one involved in the practice of local government.
The mayor of Woodville was too busy to receive the Governor General Sir Bernard Fergusson, later Lord Ballantrae.
Sir Bernard was scheduled to meet the mayor, Mr Beale, in order to present him with an award.
This was a decoration for his long service to the remote junction town at the head of the Wairarapa Valley and which serves as the gateway to Hawkes Bay, and to the Manawatu Gorge.
This was quite some time before the explosion of such awards caused by the need to accommodate New Zealand decorations alongside the Imperial ones.
Mr Beale was up for a sturdy such order in the Queens Service class.
It was now that the problem intervened. The mayor was also the proprietor of Beale’s Bookshop, a flourishing concern in that era of the early 1960s. On the very day that he was to receive Sir Bernard he was also required to perform his annual stock take.
The stock take was performed on that same date every year, regardless. It took all day. He, the mayor, would be unable to attend. The matter was non-negotiable. Another date would have to be found.
Beale himself was from an early settler family hailing from London that had thrived in Central Hawkes Bay.
Officials at various levels gently pointed out to Beale that Sir Bernard was of dynastic stock, the fourth of his line to become viceroy. Beale was adamant. He was in his bookshop all that day. The viceroy to avoid disappointment would have to make another appointment
The Beale family continues to flourish in Central Hawkes Bay. The Fergussons until just a few years ago still serving officially here, but now at legation level, finally faded from the New Zealand scene.
| IPENZ - 18 Nov 16 | Engineers are finding unusual effects from the Kaikoura earthquake in that low rise buildings suffered minimal damage while medium rise buildings suffered significant damage.
New Zealand Society for Earthquake Engineering (NZSEE) President Peter Smith says there was an extraordinarily large release of energy much closer to Wellington than initially realised.
The shaking lasted 90 seconds, compared to 20 seconds for the February 2011 Christchurch event.
Mr Smith says how buildings respond in an earthquake depends on their height, stiffness and the nature of the ground they are on.
“At this stage in Wellington, it looks like buildings between eight and 15 storeys have been worst hit. This quake has generated intense accelerations in buildings in this height range, especially those on softer soils.
“In contrast, short, stiff structures have experienced relatively low accelerations in this earthquake. This is the main reason why Wellington’s older buildings, which tend to be shorter, generally didn’t suffer any damage, even though some are categorised as earthquake prone. This effect is similar to that which occurred in the June 2013 Seddon earthquake. It’s important to realise that these buildings may still perform poorly in an event centred closer to Wellington.
Structural Engineering Society (SESOC) President Paul Campbell says engineers are continuing to assess buildings.
“Buildings might be undamaged or damaged in a way that doesn’t reduce their capacity to deal with future shaking. This means they may be just as safe as they were before the earthquake.
“Broken partition walls, ceiling and disrupted contents can look bad and be inconvenient but do not represent a significant threat to your safety. Conversely, some buildings may have damage that is hidden from view but there will generally be clues to this that an experienced and knowledgeable engineer will detect.
“If an engineer assesses a building as suffering damage that is likely to reduce its capacity to deal with future shaking, this means more detailed assessment is needed. Carrying out a detailed assessment can take weeks, not hours”.
Institution of Professional Engineers New Zealand Chief Executive Susan Freeman-Greene says many of the lessons learned from the Canterbury earthquakes are now incorporated into the Building Code though have been included in few buildings to date.
“These include new guidelines for rapid assessment of buildings and training of engineers in how to do these assessments.
“Everyone is feeling uncertain about the weeks and maybe months ahead, given the potential aftershock sequence. Building owners seeking peace of mind may want to get an engineer familiar with the building’s construction type to give it a full assessment.
“If anyone has concerns about damage that their building has suffered and the affect this may have on future performance they are urged to seek engineering advice.”
November 17, 2016 EditionClick here or on the image to view the latest issue
After a career in the energy sector and nearly 10 years leading the Energy Efficiency and Conservation Authority, you'd think I'd be able to fix a few things before retiring.
Unfortunately, there's still the small matter of international climate change - the most important energy-related issue facing us today.
In fact, the symptoms have become steadily worse with 2016 set to be the hottest year on record. Around the world a concerted and serious effort is needed to tackle climate change and New Zealand has a role to play. I am excited about the opportunities in front of us.
For most of my career, the energy-related issue we worried about most was whether we had enough supply to meet our growing needs.
By 'energy' we generally meant electricity, which has always come mostly from renewable sources. We rested happily on those laurels; meanwhile our industry and transport sectors ran on coal and oil.
Two things happened at around the time I joined EECA as Chief Executive in 2007. The volatility of oil became painfully apparent when petrol prices shot past the $2/litre mark; and evidence linking climate change with the burning of fossil fuels became more widely accepted.
EECA, with its mandate to promote energy efficiency and renewable energy, has a role to play in both these issues.
Making more of our abundant renewable electricity will not only reduce our dependence on imported oil, it will also help us transition to a low emissions economy.
It seems like a big mountain to climb - but so was making New Zealanders realise their homes didn't have to be cold, damp and drafty.
Industrial robotics have brought automation a long way toward meeting these goals.
This technology has also created new possibilities and opportunities in part production, assembly and quality inspection for industries including aerospace, automotive, medical and more.
However, industrial robotics can’t solve every issue, and sometimes it can even create new problems. That’s where the collaborative robot or “cobot,” comes in.
This e-book covers the top five cobots available in the market today. We’ll look over technical summaries for each cobot, what applications they are best suited for, what accessories they can use, and what kind of ROI can be expected after integration.
To learn about the history of collaborative robots and where they came from, check out A History of Collaborative Robots: From Intelligent Lift Assists to Cobots.
Continue to Engineering.com to download your free EBbook
Were the modern earthquake-prone Wellington buildings due to relaxed Standards post- MOW?
MSCNewsWire articles published prior to 14 Nov earthquake#4 | 2 Nov 16 | Ministry of Works Dissolution started Leaky Buildings & Earthquake Vulnerability #3 | 26 Oct 16 | Ministry of Works Wellington Motorway Swathe Sowed Anti Big Engineering Project Whirlwind#2 | 24 Oct 16 | Ministry of Works had clear cut lines of Civil Engineering Responsibility#1 | 21 Oct 16 | Department was Repository of Exceptional Engineering Technical Ability & Management
Introduce quake star ratings for buildings - engineer
Structural engineers working hard to assess and analyse damage
CentrePort owes Wellington answers about the risk of its buildings
Wellington building likely to be 'deconstructed' after earthquake damage
Freight costs tipped to rise following quakes
While you were sleeping: Wall Street weakens
Samoa's chocolate pioneers back in business
When it comes to Trade Reform here is an extract from the new website www.greatagain.gov
Free trade is good as long as it is fair trade. American workers are the best in the world. On a level playing field, we can compete, and win. Yet, too many American jobs have been lost over the last decade because of trade deals that do not put Americans first. Factories have closed and jobs have moved overseas because the government has imposed crushing regulations and taxes, while it negotiated trade deals that incentivized American companies to make things abroad, where environmental and labor protections are minimal and wages are low.
The Trump Administration will reverse decades of policies that have pushed jobs out of our country. The new Administration will make it more desirable for companies to stay, create jobs here, pay taxes here, and rebuild our economy. Our workers and the communities that support them will thrive again, as more and more companies compete to set up manufacturing in the U.S., to hire our young people and give them hope and a real shot at prosperity again. America will become, once more, a destination for jobs, production and innovation and will once more show economic leadership in the world.
Yesteerday just before he left for Lima and the APEC Summit Trade Minister Todd McClay detected a change of tone. "Largely the language they use is something New Zealand could use; it's the role of trade, you need fairness, not just free trade, and things like that. So it's quite different from what we've seen during the campaign."
As far as the TPPA was concerned, "it's far too soon for anyone to be saying it's completely over" McClay continued More reading
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242