We have
100 years to develop affordable alternative energy to add to Nuclear. Wind and
Solar are still too expensive to deploy and Coal reserves will have their
limits. Natural Gas is tied to Oil and is already replacing Coal to produce
electricity. Hydro is the least expensive, but we are not jumping on this
source. Batteries have improved enough to make some electronic products more
portable. Oil production is reported by country in Million Barrels per Day and
% of total oil below.
Oil
Production by Country 2018 Top 10
Country MBPD %
US 17.94 18%
Saudi
Arabia 12.42 12%
Russia 11.40 11%
Canada 5.38 5%
China 4.81 5%
Oraq 4.62 5%
Iran 4.46 4%
UAE 3.79 4%
Brazil 3.43 3%
Kuwait 2.91 3%
Top
10 71.15 71%
World 100.89 100%
Oil
Reserves by Country 2018 Top 20
Country Million Barrels
Venezuela 300,878
Saudi
Arabia 266,405
Canada 169,709
Iran 158,400
Iraq 142,503
Kuwait 101,805
UAE 97,800
Russia 80,000
Libya 48,363
US 39,230
Nigeria 37,062
Kazakhstan 30,000
China 25,620
Qatar 25,244
Brazil 12,999
Algeria 12,200
Angola 8,273
Ecuador 8,273
Azerbaijan 7,000
Total 1,571,764
Oil
reserves total 1,571,764 million barrels. Total oil production is running
100.89 million barrels per day.
Known
reserves should last 15,717.64 days. That’s 43 years, but I suspect we will
discover more oil reserves over the next 43 years to keep the oil flowing. It is prudent to continue to work on
alternative energy technologies that can deliver economic results without sending
us back into stone age living standards.
It’s
interesting that countries with the largest reserves are not the largest
producers. Venezuela, Iraq and Iran are broken due to government corruption.
Norb
Leahy, Dunwoody GA Tea Party Leader
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