How Much Oil Is Left On Earth?

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Around the world, over 34 billion barrels of oil are used every year. At this rate of consumption, how much oil do we have left?

Learn More:
The world has 53.3 years of oil left
http://www.usatoday.com/story/money/business/2014/06/28/the-world-was-533-years-of-oil-left/11528999/
“BP (ticker BP ) has provided an intriguing update to its global oil reserves estimate in the company’s latest yearly review of energy statistics.”

OPEC share of world crude oil reserves, 2014
http://www.opec.org/opec_web/en/data_graphs/330.htm
“According to current estimates, more than 80% of the world’s proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to around 66% of the OPEC total.”

China Peak Oil: 2015 Is the Year
http://thediplomat.com/2015/07/china-peak-oil-2015-is-the-year/
“Intense focus on the North American shale boom, Saudi Arabia, and ISIS obscures an important emerging energy trend: China’s oil production is peaking.”

PDVSA says Venezuela oil exports at 2.4-2.5 million barrels per day
http://www.reuters.com/article/2015/04/20/us-venezuela-pdvsa-production-idUSKBN0NB1NF20150420
“OPEC member Venezuela is currently exporting between 2.4-2.5 million barrels per day from national crude production of around 2.85 million, the head of state oil company PDVSA said.”

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20 thoughts on “How Much Oil Is Left On Earth?”

  1. middle east has the 70% oil thats usa and other countries . creat terorist with the name of islaam and destroye middle east .

    Reply
  2. if we don't know how much is left, what is the bloody purpose of this video?
    i don't watch your channel often, but it seems after watching a few videos, your just milking viewers for money and thinking of whatever comes of the top of your head.

    Reply
  3. Every energy resourse will run out eventually, thanks to entrophy. But maybe the most reliable source of energy is the sun. Maybe we should concentrate on assimilating it's energy. The other good alternative is nuclear decay or even better nuclear fusion. The second is basicly an artificial star.

    Reply
  4. It is proven that some developed nations show artificial shortages in oil to control prices. I've been to the Middle East, aparently large companies such as Aramco have not even come close to fully exploiting the large oil reserves. That being said, the world is moving towards solar energy regardless of how much oil is left.

    Reply
  5. Worst thing is, people still don't support the idea of moving on from oil and fossil fuel. The world will be damned because of global warming if we keep using all this. We need to move onto renewable energy.

    Reply
  6. I did a report in highschool about how known oil reserves would run out in less than ten years. I graduated highschool in 1978.

    Reply
  7. OK, so coal and oil are dirty outdated and unsustainable! Now what? Try smelting iron using electricity from wind turbines. Try getting more energy per kilogram of fuel than oil. Can't be done, sorry! Then try making your wind turbines when you can't smelt iron. Then, when you finally succeed in making wind turbines they pay for themselves in a mere 25 years. Trouble is they have a working life of only 15 years. If somebody can produce energy and all the multitude of commodities that use oil in their manufacture And which has a better return of energy for amount consumed, let me know. At the moment we have NO VIABLE replacement for coal and oil and nothing even remotely on the horizon. Get real folks – there is no magic bullet; nothing that can sustain us in our current lap of luxury. Stop bleating about wind and solar until you have something that is going to actually work. Luv 'n' peace, people.

    Reply

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