Global Energy Reserves
Proved oil reserves are those that can be extracted with reasonable certainty under existing conditions using existing technology. Global proved oil reserves are estimated at approximately 1,300 billion barrels (210×109 m3). This corresponds to roughly 43 cubic miles, or 43 CMO. At the current rate of use, this would last about 40 years. Technological advances, new discoveries, and political changes will likely lead to additional proved oil reserves in the future. Concurrently, the International Energy Agency predicted in its 2005 World Energy Outlook that the annual consumption will increase by 50% by 2030. Coal and natural gas currently provide 1.42 CMO of energy per year. Global reserves of these fossil resources are as follows:
- Natural gas reserves total 42 CMOs (69 years at current consumption)
- Coal reserves total 121 CMOs (150 years at current consumption)
- Additionally, there are large, albeit uncertain, amounts of tar sands, shale gas, and other unconventional fossil sources
Read more about this topic: Cubic Mile Of Oil
Famous quotes containing the words global, energy and/or reserves:
“As the global expansion of Indian and Chinese restaurants suggests, xenophobia is directed against foreign people, not foreign cultural imports.”
—Eric J. Hobsbawm (b. 1917)
“Violence among young people ... is an aspect of their desire to create. They don’t know how to use their energy creatively so they do the opposite and destroy.”
—Anthony Burgess (b. 1917)
“While you are nurturing your newborn, you need someone to nurture you, whether it is with healthful drinks while you’re nursing, or with words of recognition and encouragement as you talk about your feelings. In this state of continual giving to your infant—whether it is nourishment or care or love—you are easily drained, and you need to be replenished from sources outside yourself so that you will have reserves to draw from.”
—Sally Placksin (20th century)