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Update on Oil Resources and U.S. Strategic Response Research Paper

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WEEK 2 ASSIGNMENT: UPDATE ON OIL RESOURCES AND U.S.
STRATEGIC RESPONSE
Abstract
U.S. oil reserves will only last 10.5 years. What is next?

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Oil Reserves Worldwide (Proven): 1,513,412,583,000 barrels
Oil Consumption Worldwide: 35,442,913,090 barrels per year or 97,103,871 per
day
Reserves / Consumption ~48 years left
There are 15 countries with the most proven oil reserves in the world spanning over 5 continents
and control between 12.8 billion barrels to 300 billion barrels. According to some analysts there
is still plenty of oil to be discovered and most of it is in the deep waters. If we add proven reserves
from these countries, we get 1,579.4 billion barrels which leaves the rest of the world with only
71.1 billion barrels of proven reserves.
Third of the world's global energy is derived from oil production. So countries that control the oil
have geopolitical and economic power.

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WEEK 2 ASSIGNMENT: UPDATE ON OIL RESOURCES AND U.S. STRATEGIC RESPONSE Abstract U.S. oil reserves will only last 10.5 years. What is next? Oil Reserves Worldwide (Proven): 1,513,412,583,000 barrels Oil Consumption Worldwide: 35,442,913,090 barrels per year or 97,103,871 per day Reserves / Consumption ~48 years left There are 15 countries with the most proven oil reserves in the world spanning over 5 continents and control between 12.8 billion barrels to 300 billion barrels. According to some analysts there is still plenty of oil to be discovered and most of it is in the deep waters. If we add proven reserves from these countries, we get 1,579.4 billion barrels which leaves the rest of the world with only 71.1 billion barrels of proven reserves. Third of the world's global energy is derived from oil production. So countries that control the oil have geopolitical and economic power. Most of the oil rich countries have made significant additions to their oil reserves in the last few years, by adopting new technologies and best industry practices in production and enhanced recoveries. According to 2017 estimates, the United States has approximately 50 billion of proven oil r ...
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