The world is hooked on oil. Total oil consumption is 92,086,000 barrels a day. (that is 92million)
But what is the total reserve in the ground ?
It is: 1700.1 Thousand Million barrels. That is : 1,700,100,000,000 to be precise.
That is broken down by these regions:
13.7% in North America
19.4% in South and Central America
9.1% in Europe and Eurasia
47.7% in The Middle East
7.6% in Africa
2.5% in Asia Pacific
Now usingĀ 92,086,000 barrels a day, with reserves of 1,700,100,000,000 barrels in the ground, that equates to 18,462 days which is 50 years if we consume at the constant rate of 92,086,000 barrels a day and no new reserves are found.