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Oil and gas predicted inglorious end 

Minerals, such as oil, gas and coal, which have long been considered the most energy-efficient, are becoming increasingly difficult to mine, and therefore it will soon be more profitable to switch to renewable energy sources. This writes Bloomberg.
Energy efficiency of a resource is measured in such an indicator as energy profitability (EROEI). This is the ratio of the energy received to the energy spent on its extraction. For example, for oil, this figure is 25 to 1. This means that for extracting 25 barrels of oil, you need to expend energy per barrel. However, if processing is taken into account, the indicator will drop to 6 to 1.
This level of EROEI can already be correlated with the energy costs of extracting solar energy. According to a study conducted at the University of Leeds, in 1995-2011, the average energy profitability of non-renewable energy sources was 23 percent. However, it will decline due to the fact that deposits with easily accessible oil are drying up, and resource extraction is becoming more complex and requires more energy.
As a result, an increase in the cost of oil production leads to a decrease in EROEI. Unprofitability, in turn, can lead to a fuel shortage. According to analysts, this will happen if the figure drops below 5 to 1. Experts urge to invest in renewable energy sources as soon as possible in order to prevent a decline in EROEI.

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