The biggest oil reserves in the world and biggest oil consumers

12 March 2013 update

Here’s an article on explaining how the oil market spins, how wars started because of it and the struggle to keep the U.S. $ in power.
Just forget about the Israeli part if you are not into wars, but do go on and read the whole article.

“Well, like the proverbial cat playing with a mouse under its paws, since at least 2005 Iran has been openly toying with the idea of opening up a such fourth non-US$ global oil market.  China would probably support them as they get a sizeable share of their oil from Iran, so perhaps would India. If the followers of Hugo Chavez hold on to power, Venezuela too might tag along (now do we understand why the US needs to get a strong grip on Venezuela?).

End update

The biggest oil reserves in the world and biggest oil consumers

I need somebody to explain this to me: how come United states, which has less than half of the population of Europe, consumes so much oil?
Are they drinking it? Are they using it to fry chicken?

Here’s a glimpse at the biggest oil reserves in the world and biggest oil consumers on 3 big continents, from which one is heavily populated:

 United States Population 315,452,000 (2012 data) – consumes 19,150,000 bbl/day 2010 est.

 Europe  Population 739,165,030 (2011 data) – consumes 13,680,000 bbl/day 2010 est.

 China  Population 1,353,821,000 (2012 data) – consumes 9,400,000 bbl/day 2010 est.

I was looking the other day at some data about Venezuela’s oil reserve – which at the moment is the biggest reserve in the world – and as i went deeper with my searches, i bumped into some disturbing data about oil consumption worldwide, but let’s look first at the reserves per country and then at the countries with proven oil reserves…and then, let’s have a look at the offenders.

Estimated reserves by country

Now, the latest statistics show that the following countries have oil reserves to last them for many years to come:

Summary of Reserve Data as of 2012[2]
Country Reserves[17]
109 bbl
109 m3
106 bbl/d
103 m3/d
Reserve life 1
Venezuela 296.5 47.14 2.1 330 387
Saudi Arabia 265.4 42.20 8.9 1,410 81
Canada 175 27.8 2.7 430 178
Iran 151.2 24.04 4.1 650 101
Iraq 143.1 22.75 2.4 380 163
Kuwait 101.5 16.14 2.3 370 121
United Arab Emirates 136.7 21.73 2.4 380 156
Russia 74.2 11.80 9.7 1,540 21
Kazakhstan 49 7.8 1.5 240 55
Libya 47 7.5 1.7 270 76
Nigeria 37 5.9 2.5 400 41
Qatar 25.41 4.040 1.1 170 63
China 20.35 3.235 4.1 650 14
United States 26.8 4.26 7.0 1,110 10
Angola 13.5 2.15 1.9 300 19
Algeria 13.42 2.134 1.7 270 22
Brazil 13.2 2.10 2.1 330 17

[Source: Wikipedia – Estimated reserves by country]

It seems that Venezuela has  A LOT of oil and with Chavez now gone, may all Gods help them.

List of countries by proven oil reserves

Country Reserves (MMbbl)
 OPEC 1,112,448 – 1,199,707
1  Venezuela 211,169 – 297,571
2  Saudi Arabia 265,405 – 267,017
3  Canada 173,625 – 175,200
4  Iran 151,167 – 154,580
5  Iraq 115,350 – 143,103
6  Kuwait 103,998 – 111,500

[Source: Wikipedia – of countries by proven oil reserves]

Ok, here is the disturbing data. Let’s have a look at the consumption differently:

The world consumes 93,250,000 bbl/day and the biggest offender of all is the United States.

World               U.S.                 The rest
93,250,000 – 19,150,000 = 74,100,000

Stay with me on this!

Today, 2013-03-08, the world population counts at 7,105,074,622. (GeoHive data)

World                   U.S.                   The rest
7,105,074,622 – 315,452,000 = 6,789,622,622 (6 billion, 789 million, 622 thousand and 622)

Still with me?

So, from 93,250,000 bbl/day for 7,105,074,622 people (7 billion, 105 million, 74 thousand and 622),  19,150,000 bbl/day is used for 315,452,000 Americans.
Even China, with a population of 1 billion, 353 million, 821 thousand consumes about half of what U.S. usually consumes and they have 4 times more people.

Numbers don’t lie.

Don’t you think someone is using more than they are supposed to?
The biggest offender in all this is United States with a monstrous oil consumption like no other nation on Earth.
No wonder Iraq was invaded and Iran is probably next. Lots of oil in there….
Venezuela looks most attractive at the moment and i bet you, lots of people in U.S. have now their eyes on that huge oil reserve while celebrating Chavez passing away.
They are probably making plans as you read this on how to put their hands on it.

Yes, i know,  I am a mean, nasty and opinionated person, but i am not telling you something you don’t already know. It’s all about oil and America is greedy for it.

And i probably have to add as usual that i don’t hate America.
They just piss me off because they are greedy by consuming so much oil that all the other countries struggle on high prices on whatever oil is left for the rest of us and they bloody put embargoes on countries that can export that oil at a decent price or they start a war with them so they can take it all.
Business doesn’t mean anything anymore.

Other sources: Country Comparison :: Oil – consumption from CIA WorldFactBook.

7 Responses to “The biggest oil reserves in the world and biggest oil consumers

  • Another comment that I want to leave: I think oil consumption is strongly influenced by country’s wealth, not just population. So even though China and India have both 1.2/1.3 billion inhabitants, China’s GDP is around 7-8 trillion and oil consumption is around 9.4M bbl/day, India’s GDP is around 1.8 trillion and oil consumption is 3.1. I’m sure that if India increases its wealth, it will become more “thirsty”.

    Anyway, even by considering that, USA will appear as a oil-thirsty country.

    • I did consider most things , Daimmo, but it still doesn’t add up.
      Their oil consumption is way too high.

      There were things i wanted to add to the post, but i try not make them too long, so i try getting to the point whenever possible.

      • “Their oil consumption is way too high.”, yes, that’s what I said too. I simply pointed out that even by relating oil consumption to GDP, still they are on top of the list, which clearly demonstrates how they abuse this resource.

  • You used EU’s oil consumption data with Europe’s population (739M) instead of EU’s population (500M).

Leave a Reply