How Much Oil is Left?How Much Oil is Left?

By, Chase Carter

By, Chase Carter

What is a Barrel of Oil?What is a Barrel of Oil?

42 US Gallons 158.987 Liters Crude Oil Tires, Parachutes,

Telephones, Tennis Rackets, Heart Valves, Hearing Aids

42 US Gallons 158.987 Liters Crude Oil Tires, Parachutes,

Telephones, Tennis Rackets, Heart Valves, Hearing Aids

Proved Oil ReservesProved 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

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

Current Global EstimatesCurrent 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

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

Where is the Oil?Where is the Oil?

1. Saudi Arabia: 262,600,000,000 barrels2. Venezuela: 211,200,000,000 barrels 3. Canada: 175,200,000,000 barrels 4. Iran: 137,000,000,000 barrels5. Iraq: 115,000,000,000 barrels6. Kuwait: 104,000,000,000 barrels 7. UAE: 97,800,000,000 barrels8. Russia: 60,000,000,000 barrels 9. Libya: 46,420,000,000 barrels 10.Nigeria: 37,200,000,000 barrels

1. Saudi Arabia: 262,600,000,000 barrels2. Venezuela: 211,200,000,000 barrels 3. Canada: 175,200,000,000 barrels 4. Iran: 137,000,000,000 barrels5. Iraq: 115,000,000,000 barrels6. Kuwait: 104,000,000,000 barrels 7. UAE: 97,800,000,000 barrels8. Russia: 60,000,000,000 barrels 9. Libya: 46,420,000,000 barrels 10.Nigeria: 37,200,000,000 barrels

Where is the Oil?Where is the Oil?

Organization of Petroleum Exporting Countries

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

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

How Much Oil Does OPEC Control?

How Much Oil Does OPEC Control?

So, How Much is Left?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

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

How Much is Left in the USHow 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

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

Thank YouThank You

Hope This Made You ThinkHope This Made You Think