With a lot of followers/clients being Oil Experts due to long careers in the Oil Industry (For the record we find the industry wildly interesting!) we are welcoming the feedback as we make the following charts and stats available….
We did not make the chart, our friends at Howmuch.com and the World CIA Facebook (an interesting resource topic for another discussion) are the creators of this one:
Oil Reserves by Chart Size
Here are the actual statistics in legend format –
| Rank | Country | Oil Reserves (Barrels) |
|---|---|---|
| #1 | 🇻🇪 Venezuela | 300.9 billion |
| #2 | 🇸🇦 Saudi Arabia | 266.5 billion |
| #3 | 🇨🇦 Canada | 169.7 billion |
| #4 | 🇮🇷 Iran | 158.4 billion |
| #5 | 🇮🇶 Iraq | 142.5 billion |
| #6 | 🇰🇼 Kuwait | 101.5 billion |
| #7 | 🇦🇪 United Arab Emirates | 97.8 billion |
| #8 | 🇷🇺 Russia | 80.0 billion |
| #9 | 🇱🇾 Libya | 48.4 billion |
| #10 | 🇳🇬 Nigeria | 37.1 billion |
| #11 | 🇺🇸 United States | 36.5 billion |
| #12 | 🇰🇿 Kazakhstan | 30.0 billion |
| #13 | 🇨🇳 China | 25.6 billion |
| #14 | 🇶🇦 Qatar | 25.2 billion |
| #15 | 🇧🇷 Brazil | 12.7 billion |
Interesting comments – read between the lines on long term Oil usage…
“There’s little doubt that renewable energy sources will play a strategic role in powering the global economy of the future.
But for now, crude oil is still the undisputed heavyweight champion of the energy world.
In 2018, we consumed more oil than any prior year in history – about 99.3 million barrels per day on a global basis. This number is projected to rise again in 2019 to 100.8 million barrels per day.”
This from an interesting chart, at Visual Capitalist
While headlines as recent as five years ago predicted the end of oil reserves from depletion, the belief now by the smart folks, is that we will move from Oil to renewable long before we run out of oil, making for very interesting company pivots in the future.
Could an insert your favorite energy company be the leader in some type of renewable energy resource? Not beyond the realm of a reasonable doubt if their long term viability is dependent!
Things we are constantly thinking of for opportunities and loss avoidance!
Hat tip JP!
Have a Great “Energy Informed” Day!
John A. Kvale CFA, CFP
Timely G-20/Tariff Meeting Chart – World GDP
It appears the Tariff talks continue to go on…
We are personally surprised as we thought much of this was posturing and there would be an agreement sooner rather than later …
This weekend at the G-20 meeting (here is a cool live China site on the matter) there is hope to finally settle the Tariff concerns…
Will see – if they do, market participants may likely sound a sigh of relief… and visa versa …
Our Friends at Visual Capitalist/How Much.com are out with a neat chart to keep the matters in perspective..
World GDP at a Glance
Have a Great “World GDP Updated” Day!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents
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Posted in Investing/Financial Planning, Market Comments, Political
Tagged G20, How Much.com, Tariff, Visual Capitalist, World GDP