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How Much Oil is Left?

How Much Oil is Left?. By, Chase Carter. What is a Barrel of Oil?. 42 US Gallons 158.987 Liters Crude Oil Tires, Parachutes, Telephones, Tennis Rackets, Heart Valves, Hearing Aids. Proved Oil Reserves.

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How Much Oil is Left?

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  1. How Much Oil is Left? By, Chase Carter

  2. What is a Barrel of Oil? • 42 US Gallons • 158.987 Liters • Crude Oil • Tires, Parachutes, Telephones, Tennis Rackets, Heart Valves, Hearing Aids

  3. Proved Oil Reserves • Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions. • CIA World Factbook

  4. Current Global Estimates • 2,272.5 Billion Barrels • USGS World Petroleum Assessment and Analysis 2009 • 1,526.3 Billion Barrels • BP Statistical Review of World Energy 2011 • 1,468 Billion Barrels • CIA World Factbook 2011 • 1,342.207 Billion Barrels • Oil & Gas Journal 2009

  5. Where is the Oil? • Saudi Arabia: 262,600,000,000 barrels • Venezuela: 211,200,000,000 barrels • Canada: 175,200,000,000 barrels • Iran: 137,000,000,000 barrels • Iraq: 115,000,000,000 barrels • Kuwait: 104,000,000,000 barrels • UAE: 97,800,000,000 barrels • Russia: 60,000,000,000 barrels • Libya: 46,420,000,000 barrels • Nigeria: 37,200,000,000 barrels

  6. Where is the Oil?

  7. Organization of Petroleum Exporting Countries • Founded September, 1960 in Baghdad, Iraq • Founding States: Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela • Qatar, Indonesia*, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador, Gabon* and Angola

  8. How Much Oil Does OPEC Control?

  9. So, How Much is Left? • Global Consumption: 85.51 mil bbl/day • Global Proved Reserves: 1,468 bil bbl • 1,468,000,000,000 / 85,510,000 = 17,167.58 days or 47.034 years • Disregarding Growth! • Based on CIA World Factbook Numbers

  10. How Much is Left in the US • U.S. Consumption: 19.15 mil bbl/day • U.S. Proven Reserves: 20.68 billion bbl • 20,680,000,000 / 19,150,000 = 1079.9 days or 2.96 years • Disregarding Growth! • Based on CIA World Factbook Numbers

  11. Thank You Hope This Made You Think

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