Before we started using it, there was about 76 cubic miles of oil on Earth,
or a sphere with a diameter of 5.26 miles, about as tall as the tallest mountain on Earth,
of which since 1859, we have consumed about half.
If Earth’s diameter is about 7,960 miles and the diameter
of all the oil has a diameter of about 5.26 miles, and about half of it is gone,
then less than less than ½ of 1% of Earth is made of oil.
Source: John Gilkison, New Mexico State University, February 2006
In 2000, the difference between non-OPEC light sweet and sour crude oil production
of 66 mb/d
was 41% light sweet and 59% sour.
mb/d = million barrels per day
From 2000 to 2004, non-OPEC light sweet production fell 3.26 mb/d,
from 27.06 mb/d to 23.8 mb/d.
34% to 67%, light sweet to sour.
Source: The Organization of Petroleum Exporting Countries
August 2005 monthly report on the global oil market,
data on non-OPEC and OPEC oil extraction by weight and sulphur content
from 2000 to 2004, Page 4
Oil producing nations export petroleum products only after domestic needs are met.
A ‘2000’ nation producing 5 mb/d, consuming 1.0 mb/d of light sweet
can export 1.05 mb/d of light sweet. (41% light sweet production)
If a ‘2004’ nation’s total oil production increased 6% to 5.3 mb/d,
like non-OPEC production above,
and total light sweet production dropped to 34% while domestic consumption
rose to 1.1 mb/d,
then light sweet exports fell about 33.3%, to 0.7 mb/d.
If between 2000 and 2004, non-OPEC lost 3.26 mb/d as OPEC added 1 mb/d of light sweet,
then total global light sweet production fell about 2.26 mb/d.
Source: The Organization of Petroleum Exporting Countries
August 2005 monthly report on the global oil market,
data on non-OPEC and OPEC oil extraction by weight and sulphur content from
2000 to 2004, Page 4
If total oil production rises or stays the same while light sweet production falls
while consumption rises in oil producing nations and China and India
and now Japan, after multiples of Nuclear Plants went offline…?
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