Tuesday, January 29, 2008

Canada Could Supplant the Middle East as the Primary Supplier of Oil to the US in the Future

World Oil Reserves by Country

Country                Reserves   Production   Reserve life 3 
(10**9bbl) (10**6 bpd) (years)
Saudi Arabia 260 8.8 81
Canada 179 2.7 182
Iran 136 3.7 101
Iraq 115 2.2 143
Kuwait 99 2.5 108
United Arab Emirates 97 2.5 107
Venezuela 80 2.4 91
Russia 60 9.5 17
Libya 41.5 1.8 63
Nigeria 36.2 2.3 43
United States 21 4.9 12
Mexico 12 3.2 10

Notes:
1. Estimated reserves in billions (10**9) of barrels. (Source: Oil & Gas Journal, January, 2007)
2. Production rate in millions (10**6) of barrels per day (Source: US Energy Information Authority, September, 2007)
3. Reserve life in years, calculated as reserves / annual production. (from above

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