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Showing content with the highest reputation on 10/17/2022 in Posts

  1. @oldshurst442 @surreal1272 @Robert Hall @ccap41 @smk4565 @Drew Dowdell Thought you guys would find this interesting as OIL reserves tend to gauge how things are going and of course we all know that more than Autos use OIL in so many products. As such, thought you all would find this info interesting. Saudi Arabia Reveals Oil Output Is Near Its Ceiling - Bloomberg Saudi Arabia's oil reserves: how big are they really? Kemp | Reuters How Much Oil Does Saudi Arabia Really Have? (forbes.com) So based on the info above, Saudi Arabia who supposedly has the largest oil reserves in the world has only 60 to 70 years left of supply based on today's consumption and of course consumption keeps going up. Based on this interesting web site of tracking oil reserves and consumption, we have about 47 years left. I do find this site info interesting and upon looking at Venezuela as they are listed as #1 oil reserves, it appears half of their oil in the ground is what is called heavy oil and requires extensive processing to be of use. As such, this still puts Saudi Arabia in first place since their reserves is what is called lite sweet crude. World Oil Statistics - Worldometer (worldometers.info)
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