Handy Energy Facts

exerpted from Schwab, Fred, 2004, Our Energy Future: The Good, the Bad, and the Downright Ugly, Geotimes, p. 52, March, 2004.

1 - In 2002, the US had <5% of the world's population but used 25% of world oil production.

2 - Estimates are that in 2025, global demand for oil rise by more than half to 120 million barrels/day. The US's use will rise to 25%.

3 - The US Strategic Petroleum Reserve is about 700 million barrels, about 1 year's worth of Saudi Arabian imports.

4 - The US produces about 40% of its demand (which has shrunk from 60% around 1990). Estimates are that in 2025, it will be down to about 33%.

5 - About 67% of proven oil reserves are in the Middle East

6 - Known reserves in North America are 60 billion barrels (the US only 22 billion barrels).

7 - Most optimistic estimates for the Arctic National Wildlife Refuge are 16 billion barrels (more realistic estimate is ~3 billion barrels*)

8 - Saudi Arabia has 260 billion barrels of proven reserves (12X the US reserve). Iraq is second with almost half of Saudi Arabia.

9 - Only 15-25% of Iraq's oil may be recoverable since past overpumping has contaminated with the oil with water and gas.

*Overheard from a USGS geologist who had done some of the estimates -- this fact not from Schwab)

For slightly different statistics, click HERE for a pdf poster from the USGS "Are We Running Out of Oil?"