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To: Owen

Know reserves we can pump for about 50 more years at projected rates of consumption

Shale oil reserves which are harder to drill about 110 years.


29 posted on 02/02/2025 5:54:21 PM PST by MNJohnnie (Don't blame me, my congressman is MTG!)
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To: All

I have of course done this many times.

The bible of oil is the annual World Statistical Report, published for 70 years by BP.

Reserves, production, consumption for each country of the world is presented.

US reserves currently quoted at 68.8 billion barrels.

Production is about 14 million bpd. 14mbpd X 365 is 5 billion barrels/year.

Note that 68.8 number grew sharply since shale got underway when interest rates went to 0% circa 2010. It was declining before then because more was simply not being found. The shale sources were known about, but 0% interest wasn’t available to make it affordable. In 2000 the number was 30 billion barrels. So yes, more will be found, but not as fast as production/consumption/export growth.

Anyway, no, it’s not 100+ yrs. And maybe someone told Trump quietly, just as Rosneft and Lukoil have briefed Putin about who runs out last.

Here is where to get global oil information if you really want accurate specific numbers on this.

https://www.energyinst.org/statistical-review — this is the BP outsource vehicle for publication. When you go here do not click the orange box. Go down a few lines of scroll and on the left is an orange Download the Data. It’s an enormous spreadsheet and it is comprehensive.


35 posted on 02/02/2025 6:17:04 PM PST by Owen
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