Home |
Search |
Today's Posts |
|
Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
Reply |
|
LinkBack | Thread Tools | Display Modes |
#1
Posted to rec.crafts.metalworking
|
|||
|
|||
crude oil's record ascent to solidly above $121 per barrel
The U.S. consumes about 20 million barrels (3,200,000 m³) daily. If the Arctic National Wildlife Refuge oil reserves were used to supply 5% of the U.S. daily consumption -- most is imported from Canada (19%), Mexico (15%), Saudi Arabia (11.5%), Nigeria (10.5%) and Venezuela (10.5%)[11] -- the reserves, using the low figure of 4.3 billion barrels (680,000,000 m³), would last approximately 4300 days, or almost 12 years. Using the high estimate, the reserves would last approximately 11800 days, or 32 years. Total oil independence at 20 million barrels per day (using the before mentioned 10.5 billion barrel mean) would only supply the United States for 525 days (or less than a year and a half, but this complete supporting is impossible). Using the increasing price of oil this supply (with 10.5 billion barrel mean and crude oil at over $120 a barrel) would be worth 1,260,000,000,000.00 ($1.26 trillion). ] But it would be sold on the world market, almost none of it would be used by the US. Saudi Arabia has ~ 264 billion barrels of reserves, about 34.5 times as much, and produces around 9.2 million barrels per day. The world uses about 86 million barrels per day so that entire estimated reserve compares to only about 90 days worth of world use. Not that much though Exxon & others would be happy to sell it. There is an untapped 100 Billion barrel oilfield in the Dakotas. We have known about it since the 1950s. May be double that amount. http://www.kiplinger.com/businessres...er_080317.html |
Reply |
Thread Tools | Search this Thread |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Forum | |||
crude oil's record ascent to solidly above $121 per barrel | Metalworking | |||
crude oil's record ascent to solidly above $121 per barrel | Metalworking | |||
crude oil's record ascent to solidly above $121 per barrel | Metalworking |