Our \u2018Crude Oil Addiction\u2019 is best described by our shear volume of consumption of this black gold. A co$tly addiction, l\u00a3t m\u00a3 \u00a3xplain\u2026..<\/p>\n
Using BP\u2019s Statistical Review of World Energy, the world uses 80m barrels a day. Production approximately meets this demand.
\n[1 barrel of crude oil costs about $110]<\/p>\n
The numbers are staggering:<\/p>\n
80,000,000 barrels at $110 = $8,800,000,000 = $8.8 bn [\u00a35.5 bn]<\/p>\n
So the world each day spends \u00a35.5bn or $8.8bn Per Day on Crude Oil.
\nA little side fact, the US is the largest consumer at about 19m barrels a day = $2,090,000,000 = $2.09 bn per day.<\/p>\n
(about 20% of world production is used by the USA)<\/p>\n
China use 4m barrels a day, which equates to $440,000,000 = $440m a day spent by the Chinese on Crude Oil. The largest producer is Saudi Arabia with 8m barrels a day produced = $880,000,000 a day ($880m) in revenue to Saudi Arabia.
\nThe numbers just show our desire for crude oil.<\/p>\n","protected":false},"excerpt":{"rendered":"
Our \u2018Crude Oil Addiction\u2019 is best described by our shear volume of consumption of this black gold. A co$tly addiction, l\u00a3t m\u00a3 \u00a3xplain\u2026.. Using BP\u2019s Statistical Review of World Energy, the world uses 80m barrels a day. Production approximately meets this demand. [1 barrel of crude oil costs about $110] The numbers are staggering: 80,000,000 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-42","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/42","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/42\/revisions"}],"predecessor-version":[{"id":43,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/42\/revisions\/43"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}