Jan 11, 2006, Personal Finance:
World usage, 2006 – 29.565B barrels, plus .365B more each year
China, 2006 usage – 1.46B barrels, 4.94%
US annual usage – 7.54B barrels, 25.5%
Arab Oil Producer Costs – less than $2.00/barrel using low cost tech
Oil Company Costs – Have been $5 to $6/barrel
World liquid reserves – 17, 136 B barrels
Saudi Reserves – 264B to 464B barrels at $3o per barrel
US liquid reserves – 377B barrels, 50 years, 2.2%, recoverable with current tech. Could double or quad with newer tech and higher costs
US oil shale reserves – 800B barrels, 106 years, but at $40/barrel cost
Andy Hailey