Peak Oil Consumption - How Much Oil Is Left?

Peak Oil: Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. Leading geophysicists predict that peak is either currently occuring, or will have occured by 2015. Meanwhile, demand for oil continues to increase at an extraordinairy rate. Which raises the question... How much oİLis left? Global Oil Production A brief history of oil production U.S 18,686 BRAZIL 2,405 UK 1,611 SAUDI ARABIA 2,614 INDIA 3,183 CHINA JAPAN 8,625 4,396 21.9 4.56 9.4 0.9 2.3 12.5 35.1 650,000,000 BC The very first multicellular organisms appear in the oceans. A small portion of these have become the gasoline we use today. COUNTRY THOUSAND BARRELS PER DAY BARRELS PER PERSON PER YEAR CANADA MEXICO 2,195 1,945 GERMANY 2,422 IRAN 1,741 RUSSIA 2,695 23.4 6.3 10.1 8.5 6.9 2,000 BC - 800 BC Starting with the Babylonian empires, ancient civilisations The increase in proven oil reserves has grown by 700,000,000 barrels between 2008 and 2009. The Asia-Pacific region accounted for 80% of the increase. used oil leaked from the ocean floor in construction. World Crude Oil Production, 1960-2009 Selected OPEC 1 Producers OPEC - Organization of the Petroleum Exporting Countries Global organization dedicated to stability in and shared control of the petroleum markets. 10 1973 1980s 1991 1993 Arab-Israeli war Oil Glut Gulf War Iraq War 8 300 AD - 700 AD The Chinese invent the world's first oil wells in the 4th century. Petroleum and natural gas was used for lighting, heating and to produce salt. O LLL SIITL|||||| |||| ||||| | | |||L|| ||||| IRAN IRAQ KUWAIT NIGERIA SAUDI ARABIA UNITED ARAB EMIRATES VENEZUELA Selected Non-OPEC 1 Producers 1973 1985 1993 12 Oil Crisis Collapse of Soviet Union Iraq War 11 10 1865 Crude oil was seen as worthless and was cheaper than water due to overproduction CANADA CHINA MEXICO NORWAY FORMER U.S.S.R RUSSIA UNITED KINGDOM UNITED STATES Petrobas CEO Jose Gabrielli gave a presentation in December 2009 showing his figures indicate oil and biofuels set to peak in 2010. "the world needs oil volumes the equivalent of one Saudi Arabia every two years to offset future world oil decline rates." Production by U.S state: Top Ten 1800 - 1860 Edwin Drake 31 US states produce oil, 85% of reserves owned in the US property of (pictured: below) began the oil rush in 1959, producing 35 barrels a day. the Federal Government. WYOMING 51,619 KANSAS 33,858 OKLAHOMA 62,502 NEW MEXICO 64,236 NORTH DAKOTA 31,154 LOUISIANA 83,411 MONTANA 24,724 OTHER STATES 1,155,163 ALASKA 664,931 CALIFORNIA 240,206 1870 - 1890 Gasoline was used TEXAS 392,867 in the first vehicle in 1870 and off-shore drilling had begun by 1890. TOTAL U.S OIL PRODUCTION 1,756,812 Production by state (thousand barrels per year). Latest statistics published in 2004 Research by the Smith School of Enterprise and Environment at Oxford University suggests demand has started to outstrip supply. It also recommends that the current oil reserve estimates should be downgraded from between 1150-1350 billion barrels to between 850-900 billion barrels. Gas prices by U.S state 4.0 3.5 1920 - 1970 Land oil wells begin 3.0 mass operation across Europe and 100m water drills in the Gulf of Mexico. In 2.5 2.0 1969, the North Sea is tapped. 1.5 1.0 0.5 0.0 How much oil is left? ITPOES (Industry Taskforce on Peak Oil & Energy Security) predicts Peak Oil will occur within the next decade, potentially by 2015 "the supply will never peak," according to BP Based on current cosumption rate we are expected to have 43 years of oil supply left It's annual review of oil reserves in June put the figures at 1,333 million barrels, enough for 40 years. Proven Oil Reserves: 1,332,400,000,000 barrels World Total Consumption Per Year: 306,881,050,000 barrels $ per gallon Million Barrels per Day Million Barrels per Day | の 87654 Oklahoma Wyoming North Dakota Montana Colorado iddıssıssI Alabama Arkansas Michigan Kentucky Pennsylvania New York