Countries with the most oil and where they're selling it

[Tom Kirkman + 8,860]

Tying in with my theme yesterday that the world is HUGELY dependent economically on oil (despite endless wailings and brickbats to the contrary by the hyperventilating & panicky "Keep Oil In The Ground Forever" rabid mob) here is a bit of a follow-up, in a related vein.

Countries with the most oil and where they're selling it

"Recent news has reminded everyone of the importance of oil in modern politics.  Have it be the court's decision to block efforts to drill for oil in the Arctic Ocean, speculation that Venezuela's oil industry can solve its problems or U.S. oil production dropping for the first time in six months after a spree that saw record gains in oil prices, there's no denying that oil drives the news and society as a whole.

With global oil demand rising by 1.3% in 2018, the demand for oil is higher than it has ever been before.  Besides being used in fuel distillation, crude oil is also an essential manufacturing component used to make plastics, machine lubricants, packing wax, pharmaceuticals, synthetic fabric and industrial chemicals such as sulfuric acid, asphalt and paraffin.

... To understand how much oil the world produces and determine countries with the world's largest reserves, Stacker examined the most recent data on proven crude oil reserves and crude oil production from the U.S. Energy Information Administration.

... Crude oil reserve data for all countries except for the U.S. are accurate as of 2019.  The most recent crude oil reserve data for the U.S. are from 2018.

... Click ahead to find out the controversial nation that came in as No. 1 and their surprising best customer."
 

[Ivy Rayban 0]

• Name : Ivy Rayban
• Country or city where you reside : Australia, Sydney
• Industry that you work in : Mining
• Company : NA
• Years of Experience : 15 Years
• Expertise: HR

[Ivy Rayban 0]

I read it sometime in 90's that oil will last another 35-40 years. Can you give me some  knowledge on that ??  Everybody is trying to mine this fuel and few oil exporting countries are fully dependent on this. Some disturbing pictures of children and women dying due to violence in oil producing and exporting countries are really painful. 

 

 

[Tom Kirkman + 8,860]

2 hours ago, Ivy Rayban said:

Some disturbing pictures of children and women dying due to violence in oil producing and exporting countries are really painful. 

How about holding horrible dictator governments accountable for violence and death against their own women and children, rather than disingenuously trying to imply that the oil & gas industry kills women and children.

Because the oil & gas industry doesn't violently kill women and children, dictatorship governments violently kill women and children.

Oil & Gas industry helps the world.

Dictatorships, not so much.

If you dislike the Oil & Gas industry, perhaps you would prefer a forum such as Greenpeace.

[Jan van Eck + 7,558]

1 hour ago, Ivy Rayban said:

I read it sometime in 90's that oil will last another 35-40 years. Can you give me some  knowledge on that ??  Everybody is trying to mine this fuel and few oil exporting countries are fully dependent on this. Some disturbing pictures of children and women dying due to violence in oil producing and exporting countries are really painful. 

 

 

Good morning from America, Ivy, and good to hear from you. to respond to your queries, the discussions about how far oil production will go and will last remain without any real consensus.  You will hear these "pundits" commenting that oil will be exhausted soon enough, but I would discount the credibility of that.  It appears that there is still lots and lots of the stuff out there.  The real issue is:  what will consumers be prepared to pay for the oil that can be furnished by the suppliers, given current technologies?  And what are the prospects for extraction technologies becoming more artful, in that they would be able to produce oil in volume at lower costs? 

The good news is that there is still a vast amount of oil out there.  You have what is known as "conventional oil," the stuff that flows when you punch a hole in the ground and it either gushes out or can be pumped out.  Then you have probably the same again in so-called "unconventional oil," which is locked away inside sand, or various porous rock layers, other difficult structures.  And then you have so-called "deep oil," which is sitting out underneath various ocean floors, harder to get at and thus more costly, and then you have what I call "forbidden oils," sitting underneath national parks or under the Arctic Ocean.  And the costs of obtaining that oil are coming down, sometimes spectacularly, due to some very clever people in this industry. 

So there will be no "running out" in 35 years.  That, however, is not an excuse to go waste the stuff. Be frugal in oil use!  It is valuable to society. 

Now, as to the issue you raised about violence in oil producing countries, this is a most regrettable situation. In the Third World, this is known as the "oil disease."  You get this in places where there is a valuable commodity to exploit, whether it be gold, or diamonds, or oil, or timber.  One group sees the wealth and proceeds to murder and enslave the other.  Indeed, the term "blood diamonds" stems directly from this sort of abhorrent, criminal behavior.  How to deal with this is one of the global society's real problems.  So far, there has been no real solutions.  But the more civilized parts of the world are working on it.  Specifically, for the first time in a very long time, a US President, Mr,. Trump, has taken the astonishing step of forbidding export of oil from a country that uses murder and the threat of developing machines of mass murder, nuclear bombs, until they reform and behave.  The example of shutting down Iran is intended to set the pace.  Mr. Trump is also forbidding the export of oil from Venezuela until that savage dictator, Maduro, is removed.  So there is some leadership progress, albeit slow and painful. And once again, it is the people of the USA that show the path and lead the way.  

[Sukumar Ray + 52]

Selling is as good as it's demand .So long  as demand is there , selling will continue. Oil  is such a precious commodity that it will sell in the market even if its demand is decreasing- because of its diminishing output . . Although  21st century is determined to reduce dependence on oil, hunt for alternate source of energy  seems to be a far cry and will take decades if not centuries to replace oil.  But how long this commodity which is drilled and extracted from the earth will  last -is a million dollar question. It is a very difficult  if not  impossible to predict correctly how long  oil will last.. Not only Oil but all natural resources like Oil which are mined  or extracted from earth are  limited and will get exhausted in  the future. We will  continue to extract them till they are exhausted.  Entire geopolitical drama in the globe is basically a fight for  Oil and control over it.  It is a matter of money and muscle power and exercising strategic influence to  make things my way- is the rule of the Oil game. What is happening in Oil exporting countries -mainly in Arabs is  partly because of Oil politics  and mostly because of Islamic extremism and infighting.  When there is  dictatorial  brutal regime running a nation, sufferings of people bound to happen which breeds to bloody and violent civil wars. When guns and bombs are a plenty in the market and being traded in exchange of Oil -atrocities on soft targets and  vulnerable sections like on children and women are bound to happen. The plight of the Yazidi  women in Iraq as sex slaves at the hands of Isis rebels  is spine chilling. There are lots of untold horrific acts of brutality committed by the Islamic terrorists  on their own people. 

[cbrasher1 + 272]

18 hours ago, Ivy Rayban said:

I read it sometime in 90's that oil will last another 35-40 years. Can you give me some  knowledge on that ??  Everybody is trying to mine this fuel and few oil exporting countries are fully dependent on this. Some disturbing pictures of children and women dying due to violence in oil producing and exporting countries are really painful. 

 

 

Does not matter the time it will last, but for giggles according to CEO of TreeHugger Inc. world ends in 12 yrs, so I say 12 years 😂😂 (sorry for my humor response)

[Tom Kirkman + 8,860]

1 hour ago, cbrasher1 said:

Does not matter the time it will last, but for giggles according to CEO of TreeHugger Inc. world ends in 12 yrs, so I say 12 years 😂😂 (sorry for my humor response)

https://community.oilprice.com/topic/5646-green-new-deal-video/#comment-48437

 

[Tom Kirkman + 8,860]

Heh heh, I can't resist creating an endless loop here, I find it amusing...

[Joseph Scarafone + 20]

Oil is a bacteria that grows, we'll never run out of it.   They've known about this for a long time.  Peak Oil is a scam.    

[John Foote + 1,135]

I think even the most optimistic anti oil and gas person concedes peak usage is over a decade away. More often peak usage is in the 2040 or later range. Practically speaking, we'll never run out of it, and it won't be in my unborn grandkids lifetime that we quit using vast quantities of the stuff. 

Not that Aramco is transparent, but don't think Japan is the #1 customer. The growth is China and India. And for decades the #1 importer to the KSA was the USA. China has ended that run. There are strong reasons for Aramco to stay in the USA, so I'd be shocked to not have the USA remain as a large customer, even if it takes discount rates to do it.

[Keith boyd + 178]

Tom kirkman, I am going to let you in on some little rumors going around about canadian oil sands.

 

There is so much more geezus friggin oil up here then what is reported as "proven reserves"

Only 20% of it is considered proven aka the shallow stuff or the rich enough deposits to extract with SAGD.

Saskatchewan has more total oil sands then alberta but none of it is counted as reserves because it's too deep and not rich enough to be economical (today) there is a motherlode of a whale of oil sands under Saskatchewan, they just don't know how to get it out effectively yet. 

If you count by total oil in place not proven reserves, canada is #1 by orders of magnitude higher then the entire middle east put together. 

There is a reason why hundreds of millions of dollars of foreign funding are pouring into Canada to fund environmentalist protestors and court battles to land lock canadian oil. Its racketeering and canadians are letting usa and Saudi get away with it. 

[Tom Kirkman + 8,860]

7 minutes ago, Keith boyd said:

Tom kirkman, I am going to let you in on some little rumors going around about canadian oil sands.

 

There is so much more geezus friggin oil up here then what is reported as "proven reserves"

Only 20% of it is considered proven aka the shallow stuff or the rich enough deposits to extract with SAGD.

Saskatchewan has more total oil sands then alberta but none of it is counted as reserves because it's too deep and not rich enough to be economical (today) there is a motherlode of a whale of oil sands under Saskatchewan, they just don't know how to get it out effectively yet. 

If you count by total oil in place not proven reserves, canada is #1 by orders of magnitude higher then the entire middle east put together. 

There is a reason why hundreds of millions of dollars of foreign funding are pouring into Canada to fund environmentalist protestors and court battles to land lock canadian oil. Its racketeering and canadians are letting usa and Saudi get away with it. 

You've got my interest.

Can you elaborate and provide dox, especially about your last paragraph?

By "dox" I mean facts that can be independently verified by others, and not just something that somebody says online.

[Tom Kirkman + 8,860]

27 minutes ago, Keith boyd said:

Tom kirkman, I am going to let you in on some little rumors going around about canadian oil sands.

 

There is so much more geezus friggin oil up here then what is reported as "proven reserves"

Only 20% of it is considered proven aka the shallow stuff or the rich enough deposits to extract with SAGD.

Saskatchewan has more total oil sands then alberta but none of it is counted as reserves because it's too deep and not rich enough to be economical (today) there is a motherlode of a whale of oil sands under Saskatchewan, they just don't know how to get it out effectively yet. 

If you count by total oil in place not proven reserves, canada is #1 by orders of magnitude higher then the entire middle east put together. 

There is a reason why hundreds of millions of dollars of foreign funding are pouring into Canada to fund environmentalist protestors and court battles to land lock canadian oil. Its racketeering and canadians are letting usa and Saudi get away with 

Interesting Timing: In Totally ‘Random’ Coincidence Following Big Conservative Win In Alberta, Trudeau Government Releases ‘Study’ Saying Oil Sands Emissions Higher Than Expected

[Jan van Eck + 7,558]

48 minutes ago, Keith boyd said:

Saskatchewan has more total oil sands then alberta but none of it is counted as reserves because it's too deep and not rich enough to be economical (today) there is a motherlode of a whale of oil sands under Saskatchewan, they just don't know how to get it out effectively yet. 

All true, Keith.  And that big puddle of oil extends right over the border into North Dakota!  It is one gigantic deposit.  

So the question arises: who really has the most oil:  Venezuela or Canada?  Or does it even matter?

At some point the technology to remove that oil on the cheap will evolve.  It always does.  That is the nature of technology.  And when that hits - look out!  (As long as Ottawa can restrain itself in the extraction royalties, that is. 🤣)

[Keith boyd + 178]

 Of course the liberals are positioning to roll out their next scape goat to kick the can down the road on the pipeline debacle. It's almost a certainty they will announce on the last day of parliament their newest gobeldy gook and alarmism and delay the trans mountian expansion again then  break for summer recess while jason kenny blows steam out his ears and out of work  albertans sit at home polishing their pitch forks. 

And then in the fall it will be some rare salamander, and then it will be a caribou migration route, and then it will be one drunk pipeline welder that got drunk and grabbed some girls ass in some town in bc. Their excuses are getting more and more pathetic every time.

1 hour ago, Tom Kirkman said:

Interesting Timing: In Totally ‘Random’ Coincidence Following Big Conservative Win In Alberta, Trudeau Government Releases ‘Study’ Saying Oil Sands Emissions Higher Than Expected