Where Our Oil Comes From

Where Our Ojl Comes From As both an essential resource and a finite one in our world, oil is often at the root of conflict. Relations between countries grow tense as oil consumption rises. How much oil does the United States import annually, and from whom do we get it? Where do the world's proven oil reserves lie? See how this affects you at the gas pumps, too. -In 2011, the US Domestically Produced... 2,070,494,000 666CCO barrels of oil The U.S. doesn't produce enough oil to fuel its entire economy - Total US Oil Imports Over the Past 10 Years 3,820,979,000 Barrels of Oil Imported 3900000 3700000 3500000 3,590,628,000 3300000 2001 2003 2005 2007 2009 2011 Customs Value $300,000,000,000 $225,000,000,000 $150,000,000,000 $74.292,894,000 $188,711,776,000 $75,000,000,000 2001 2003 2005 2007 2009 2011 $100 Price Per Barrel $99.78 $75 $50 $21.40 $25 2001 2003 2005 2007 2009 2011 The price of oil is soaring. What does that mean for us at the pumps? - Crude Spot Prices vs. Gas Pump Prices $3.50 $3.00 2008 $3.32 $2.50 2009: $2.40 $2.00 2008 $3.32 $1.50 $1.00 1990 1995 2000 2005 2010 How much crude goes into making gasoline? From Crude to Cruising: The Relationship Between Oil and Gas I barrel of oil = 42 gallons %3D Current price per barrel $105 $2.50/gallon טטטטט טטטטט hanalpa טטטטטטמה 19 gallons of gasoline $3.91/gallon Gas price per gallon at the pumps is 56% higher than crude! all figures as of March 2012 After all that, we deserve to know what we're really buying when we fuel up. – What Are We Paying For? 11% Taxes 5% Distribution & Marketing 12% Refining 72% Crude Oil We rely on crude not just for driving but for countless other uses in our modern world. But oil is a finite resource, and we need to know where we can count on getting it in the future. -Who Has the Most Proven Oil Reserves?- Proven oil reserves may grossly underestimate the actual amount of potential oil, since they don't take into account any oil deemed off-limits for environmental reasons or that may be otherwise unrecoverable. Still, it's helpful as a base for estimation. Saudi Arabia: 17.85% 262.6 billion barrels Brazil: 0.87% 12.86 billion barrels Venezuela: 14.35% 211.2 billion barrels China: 1.01% 14.8 billion barrels Canada: I1.91% 175.2 billion barrels United States: 1.41% 20.68 billion barrels Qatar: 1.72% 25.38 billion barrels Kazakhstan: 2.04% 30 billion barrels Nigeria: 2.53% 37.2 billion barrels Iran: 9.31% 137 billion barrels Libya: 3.15% 44.3 billion barrels Iraq: 7.82% 115 billion barrels Russia: 4.08% 60 billion barrels Kuwait: 7.07 104 billion barrels United Arab Emirates: 6.65% 7.8 billion barrels One may think that the countries with the largest proven oil reserves would be the main resources for US oil, but we aren't importing from all of them... -Top 10 Sources of US Oil for 2011 Canada (Non-OPEC) Saudi Arabia (OPEC) Iraq (OPEC) 788.273,000 barrels of oil 435,652,000 barrels of oil 162,385,000 barrels of oil Customs Value: $67,971,149,000 Customs Value: $45,727,405,000 Customs Value: $16,930,199,000 Mexico (Non-OPEC) 403,527,000 barrels of oil Customs Value: $39.753.834.000 Colombia (Non-OPEC) 146,540,000 barrels of oil Customs Value: $14,646,758,000 Venezuela (OPEC) 378,725,000 barrels of oil Customs Value: $36,837,841,000 Ecuador (OPEC) 73,601,000 barrels of oil Customs Value: $7,297,270,000 Brazil (Non-OPEC) Nigeria (OPEC) Angola (OPEC) 87.126,000 barrels of oil 274.696,000 barrels of oil 117,042,000 barrels of oil Customs Value: $9.271,625,000 Customs Value: $30,927,712,000 Customs Value: $12,928,920,000 And where have we gotten our oil from so far this year? 2012 Barrels Per Day From Top Exporters Canada: 2,281,000 Saudi Arabia: 1,438,000 Mexico: 913,000 Venezuela: 885,000 Colombia: 542,000 Brazil: 386,000 Nigeria: 324,000 Iraq: 250,000 Ecuador: 235,000 Angola: 172,000 (I-month average as of 3/23/2012) We're producing and importing oil at almost unprecedented rates. How long can we really keep this up? The Future of Oil We hold just 4.5% of the world population but consume 20% of the world's oil Oil consumption is growing by about 1.5 million barrels per day the United States currently uses 18.77 mil barrels daily Supply growth from OPEC countries is l.I million barrels per day Supply growth from non-OPEC countries is just 0.1 million barrels per day Imports currently account for 49% of our oil Domestic oil production will increase to 5.7 million barrels per day by 2035 that number will have to increase in the future Projected oil price per barrel in 2035: $125 (in 2009 dollars) Sources: PROVIDED BY (Crude WTI) (Crude Brent) (March 28, 12:45 PM) FUELFREEDOM CHEAPER. CLEANER. AMERICAN-MADE. 2012 $3.92

Where Our Oil Comes From

shared by ccraine on May 08
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This graphic shows you where the United States gets its oil and why gasoline is the cost that it is currently.


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