9 hours agoStates that control world oil: Canada on top of 10 percent of world oil
Periskopi(6 years ago)
(6 years ago)Oil is a natural resources formed from the decay of organic matter for millions of years. And like many other natural resources, neither oil can be produced but only extracted where it exists. Unlike any other natural source, oil is the blood of the global economy. The world reaches out to over three quarters of [...]
The world untils over three quarters of the total production of oil, more than from any other source so far. As a result, countries controlling the world's oil reserves have full geopolitical and economic powers, writes Periscope from UsaToday.
24/7 Wall St. has identified the 15 states with the largest reserves.
It's 15th place. Brazil with 12.8 billion bars [or 0.8 percent of the total world]. It's 14th place. Qatar With 25.2 billion barrels [1.5 percent of the total world]. On the 13th. China With 25.7 billion bars [or 1.5 percent of the total world's total. It's in 12th place. Kazakh with 30 billion bars [1.8 percent]. 11th Nigeria With 37.5 barrels [2.5 percent]. 10th Libya 48.4 billion bars.
US is in 9th place with 50 billion bars or the total world of 2.9 percent. Despite taking ninth place, no other country consumes more oil than this country.
In eighth place they are United Arab Emirates With 97.8 billion bars. It's the seventh. Kuwait With 101.5 billion bars. It's the sixth. Russia With 106.2 billion bars. Along with the United States and Saudi Arabia, Russia is among the only three countries producing more than 10 million barrels of oil per day.
Iraq There are 148 billion barrels of oil. It's on the fourth. Iran That has 157.2 billion bars.
Meanwhile, third place is Canada With 168.9 billion bars, or 10 percent of the total world. Canada is the world's second largest area. Despite rich energy resources, Canada has a relatively diverse economy.
The second one is Saudi Arabia With 266.2 billion bars, or 15.7 total worldwide.
In the first place, Venezuela, with 303 billion bars, is firmly established. This country's economy is highly dependent on oil, with 90 percent of its exports made up of this particular substance. The current economic crisis is the result of reducing oil prices to a global level. /Periscope
