Jun 25, 2015 ... Today, the world is swimming in oil, and prices have been sliced in half over the  past year. “Peak oil” theory ... Now, just five years later, we have a 2-3 million b/d  surplus. The main ... Not only has the world's oil supply failed to disappear, but  production has substantially expanded and will continue to do so.
We only have 2 percent of the oil reserves in the world, and we consume 25  percent of the world's oil on a daily basis. — PolitiFact National on Tuesday,  June 22nd, 2010. Half-True. True for some leases, and the dollar losses are a  work in progress. Edward Markey · "Right now every single one of the (oil)  companies here ...
39 percent of the oil we consumed in 2010 came from U.S. production. The U.S.  is the third largest oil-producing nation in the world, behind only Saudi Arabia  and Russia. The Energy Information Administration estimates that 110,000  barrels per day of offshore oil production were lost in 2010 due to the moratorium  and de ...
Tilford cites a litany of sobering statistics showing just how profligate Americans  have been in using and abusing natural resources. ... “With less than 5 percent of  world population, the U.S. uses one-third of the world's paper, a quarter of the  world's oil, 23 percent of the coal, 27 percent of the aluminum, and 19 percent of  the ...
It is often confused with oil depletion; however, peak oil is the point of maximum  production, while depletion refers to a period of falling reserves and supply.  Some observers, such as petroleum industry experts Kenneth S. Deffeyes and  Matthew Simmons, predict negative global economy implications following a post -peak ...
We only have 2 percent of the oil reserves in the world, and we consume 25 percent of the world's oil on a daily basis.